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Sainsbury’s 0% interest credit card still competes

Sainsbury’s 0% interest credit card still competes

Category: Credit cards
Date: 19/06/2018

Sainsbury's Bank has reduced the introductory 0% interest term on its balance transfer and purchase credit card, but added the possibility to make money transfers, which means it retains its position in the Best Buys and earns a high rating.

The basics…

The Sainsbury's Bank Dual Offer Credit Card MasterCard now boasts an introductory interest-free term of 26 months on both purchases and balance transfers, with an introductory balance transfer fee of 3.00% (min £3.00).

The finer details…

Money transfers are charged at 25.95% per year with a 4% fee (min. £4). After the introductory periods have ended, balance transfers will be charged at an annual rate of 19.95% with the same 3% fee, while standard purchases will be charged at 19.9% APR.

There is no card fee, and as an added bonus, new customers will be able to earn 500 bonus Nectar points each time they spend £20 or more on Sainsbury's shopping (up to 10 times in the first two months with a total of 5,000 points on offer until 30.07.2018). Aside from this, loyal Sainsbury's shoppers will be delighted by the two Nectar points earned on every £1 spent on Sainsbury's shopping or fuel, with one Nectar point earned for every £5 spent elsewhere.

Borrowers must be at least 18 years old, and should remember that rates are representative and will depend on your credit rating.

Why we like it…

The added ability to make money transfers has made this card a true all-rounder, while its introductory terms are still highly appealing. The Nectar points on offer furthermore make it particularly enticing to Sainsbury's shoppers, which is why it has kept its competitive place in the Best Buy chart for its sector and deserves a high Moneyfacts rating.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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