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New reward and 0% credit cards from Sainsbury’s

Double Nectar points or 0% balance transfer deal

Sainsbury’s Finance has launched two new credit cards, one offering 0% deals on new purchases and balance transfers for 12 months, the other double Nectar points on Sainsbury’s shopping for two years.

In order to apply for one of the new credit cards, consumers must have a Nectar card. These are free to obtain from Sainsbury’s.

Credit card one: Sainsbury’s Nectar credit card

The first new card, the Sainsbury’s Nectar credit card, has a standard interest rate of 12.9%, below the industry average. It offers double Nectar points on Sainsbury’s shopping in-store, online and in petrol filling stations for two years. However, there is no 0% promotional deal on balance transfers or purchases.

Credit card two: Sainsbury’s credit card

The Sainsbury’s credit card offers a 0% deal for the first 12 months on both purchases and balance transfers (3% balance transfer fee applies). After this period, the card has a standard APR of 15.9%.

Stuart McKeggie, head of Sainsbury’s credit cards, said: ‘Over the past few months, the credit card market has seen interest rates rise steadily. Our strategy is very much focused around encouraging more Sainsbury’s shoppers to take out our financial services products, and to do this we need to ensure that we continue to offer them exclusive deals that are extremely attractive.’

Sainsbury’s cards are competitive, but only if you use them wisely

Martyn Saville, Which? credit card expert, commented: ‘Both of the new Sainsbury’s credit cards are potentially good value, depending on how you use them. The Nectar credit card is competitive for regular Sainsbury’s shoppers, although the reward rate of one point per £5 spent elsewhere is well off the best cashback rates available on other cards.

‘The Sainsbury’s credit card, on the other hand, is competitive for 0% balance transfers and tops the Best Rate table for its 0%-on-purchases deal. The card’s standard APR of 15.9% means, however, that it is not suitable for borrowing beyond the 0% promotional period, nor does it award extra Nectar points.’

Get the best credit card for your needs

If you need advice to help you choose the best credit card for your needs, read the free Which? guide to choosing a credit card.

Once you know the best type of card for you, check out Which? Best Rate credit cards to find the most competitive deal available today, whether it’s a cashback card, a card for borrowing or the longest 0% deal on balance transfers.

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