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New Sainsbury’s Bank Credit Card Combines Attractive Purchases And Balance Transfer Offer With Long-term Rewards

28 October 2013

Sainsbury’s Bank is today (Monday 28th October) launching a new credit card that offers an attractive 0% on both purchases and balance transfers for 15 months(2) combined with long-term rewards(3).

As one of less than a third (32%) of credit cards to offer these three benefits combined, the new Sainsbury’s Nectar Credit Card is one of the best all round cards currently available(1). Furthermore, the new card’s 15 months 0% on purchases(2) is significantly longer than the market average of 5.5 months(1).

Cardholders receive double Nectar points on their Sainsbury’s shopping – both in-store and online – equivalent to 2% back on their shopping when paying with their Sainsbury’s Nectar Credit Card and using their Nectar card at the same time(3). For example, those spending £49 a week in-store at Sainsbury’s could, over a year, earn Nectar points equivalent to the value of a week’s free shopping(4). Customers are also rewarded every time they use the card elsewhere – at home or abroad – as for every £5 spent, one Nectar point is received(5).

At Sainsbury’s petrol filling stations, customers paying with a Sainsbury’s Nectar Credit Card receive two points per £1 spent on fuel (plus one point per litre when swiping their Nectar card).

Simon Ranson, Head of Banking at Sainsbury’s Bank, said: “We strive to provide our customers with great quality products that offer competitive pricing as well as rewards. With a combined 15 month purchases and balance transfer offer together with double Nectar points at Sainsbury’s, it will be difficult for loyal Sainsbury’s customers to find a better credit card elsewhere.”

To find out more about the new Sainsbury’s Nectar Credit Card call 0800 313 4596, log onto sainsburybank.co.uk, or pick up a leaflet in your nearest Sainsbury’s supermarket.  Customers applying for a Sainsbury’s credit card should have their Nectar card ready when they apply.

From today, the Sainsbury’s Cashback Credit Card and Sainsbury’s Cashback Low Rate Credit Card will no longer be available to new customers.

To gain maximum benefit from having a credit card, customers should aim to pay off their balance in full each month.

Ends

 

For more information, please contact:

Emma Murphy / Tom Wilson, Citigate Dewe Rogerson on 0207 282 1072 / 2842

Lorna Gilmour, Sainsbury’s Bank on 0131 338 2863

Notes to editor:

(1)       Sainsbury’s Bank commissioned MoneyComms on behalf of its Credit Card division. Analysis conducted by Andrew Hagger on 22nd October 2013 comparing the UK credit card market

(2)       16.9% Representative APR. Customers must pay at least the minimum payment by the due date and stay within their credit limit  to keep their promotional rate

(3)       Customers using their Sainsbury’s Nectar Credit Card in-store or online at Sainsbury’s earn 2 points per £1 spent and 2 Nectar points per £1 spent when using their Nectar card. Therefore, the combined post-introductory reward is 4 points earned per £1 spent; this is equivalent to 2% back on Sainsbury’s shopping. Points are not available on a limited range of Sainsbury’s goods and services. Travel Money purchases are not eligible for points. Nectar points are awarded to customers by Sainsbury’s Supermarkets Limited and Sainsbury’s Bank plc. Nectar points may take up to six weeks to appear on customers’ accounts. More information is available at sainsburysbank.co.uk

(4)       Week’s free shopping earned by combining base points earned in-store/online at Sainsbury’s when swiping Nectar card at the till and earning bonus points when purchasing with the Sainsbury’s Nectar Credit Card. For example, £49 per weekly spend over a year earned 10,912 Nectar points = £50 approx to redeem in-store.

Points can be collected wherever Mastercard is accepted.