Looking for a 0% balance transfer or 0% on purchases credit card?
Sainsbury’s have a number of credit cards available that offer various combinations of 0% on balance transfers and 0% on new purchases. So what does this mean?
Well, if you’ve built up a balance on an alternative credit card, a 0% balance transfer card would allow you to move this balance to a new credit card and pay it off interest free, over a period of time. If your balance is significant, this could save you money. Watch out for transfer fees which are often applied to the balance when it is moved across to the new card.
0% on new purchases means just that. Perhaps you fancy paying for next year’s holiday without having to pay any interest on the amount or maybe you want to do the Christmas shopping. With 0% interest on new purchases, you can pay with your credit card and not have to pay interest on the amounts as you repay them typically up to a defined time limit.
Let’s take a closer look at the cards available.
|
Card Name
|
Balance Transfer Interest Free Period
|
Transfer Fee
|
New Purchases Interest Free Period
|
Standard APR
|
|
Nectar only Long Balance Transfer
|
42 months
|
4.0%
|
3 months
|
18.9%
|
|
Nectar Exclusive Long Balance Transfer
|
40 months
|
2.42%
|
3 months
|
18.9%
|
|
Nectar Long Balance Transfer
|
40 months
|
2.89%
|
3 months
|
18.9%
|
|
Nectar Low Balance Transfer
|
33 months
|
0.69%
|
3 months
|
18.9%
|
|
Nectar No Balance Transfer Free
|
22 months
|
Free
|
3 months
|
18.9%
|
|
Nectar Dual
|
24 months
|
3.0%
|
24 months
|
18.9%
|
|
Nectar Purchase
|
18 months
|
2.89%
|
28 months
|
18.9%
|
The cards also give you 5,000 Nectar points when you spend £800 on Sainsbury’s shopping or fuel in the first three months. 2 Nectar points per £1 spent on Sainsburys shopping or fuel and 1 point per £5 spent elsewhere.
If perhaps, you just want a simple credit card with a lower basic rate of interest, Sainsbury’s also has a Nectar Low Rate credit card. This gives you all the nectar bonuses but comes with a 9.9% APR as opposed to 18.9% on other cards. However, the card is only available to new Sainsbury’s Bank credit card customers.
With all these cards you’ll need to hurry – the Nectar rewards offer is open until the 29 December 2016.