Hey guys, there’s a great new credit card deal from Sainsbury’s Bank.
It’s basically a three-in-one credit card: 0% on both balance transfers and purchases, plus rewards.
• Called the 29 month “Matched” offer purchase credit card, it offers 29 months at 0% on balance transfers and 29 months at 0% on purchases.
• Customers get 2 Nectar points per £1 spent on Sainsbury's shopping and 1 Nectar point for every £5 spent elsewhere.
Bonus points
If you apply by 21 May and use your Sainsbury’s credit card to pay for your Sainsbury's shopping or fuel four or more times in your first month, you’ll get 5,000 bonus Nectar points.
Watch to watch out for
You need to be a new Sainsbury’s Bank credit card customer.
There’s a 3% balance transfer fee (minimum £3).
After the 0% periods end the card has an APR of 18.9% – but, obviously, there’s no reason to ever pay it if you switch cards in 29 months’ time.
Make sure you pay at least the minimum payment each month – otherwise you risk the 0% deals and bonus Nectar points being cancelled.
And my own personal word of warning: If your current debt situation means you need a long 0% balance transfer deal, question whether you should continue spending on a credit card at all. Used sensibly, 0% cards can be a good way to spread costs but you should be aiming to pay off your debts, not add to them.
Why I like it
Although the card isn’t quite the best on offer for a dual 0% card (Santander offers 30 months on both with a lower BT fee of 2.75%), the Nectar points make it a hot deal.
Most cards offer either 0% deals or rewards, not many offer both.
Top comments
brown_ambassador
5 May 1719#5
If you're transferring in a reasonable sized balance, a quick Google search shows for example the TSB Platinum 28 month 0% and ZERO fee (e.g. £5k transferring, that's £150 fee vs £0 fee). Far better in this scenario to get a low or no fee Bal Trx card, then have a great cashback card for spending (e.g. Amex). You usually get a window of up to 3 months to do your BT's, so can always transfer over your monthly spending for those months to the BT card if you have spare limit.
morpheus
5 May 177#11
How does the OP's deal differ from this deal which seems to have 0 balance transfer fee:
Just notice that my link goes to a 28 month 0% balance transfer, so one month less than the OP. Personally i'd definitely give up the extra month to save the fee.
bonzobanana
5 May 174#19
Christ one nectar point for every £5 spent. £2500 of purchases nets you £2.50 in points. Effectively 0.1% back in points value :laughing:
Marekj
5 May 173#45
They have a profile of the type of customer they want to lend to at any given point. The arbitrary Experian/Equifax/Call Credit ratings really are meaningless. They will look at what is on your file, certainly, but they may not be in the market for a customer with an 'excellent' rating, who pays off their balance in full every month, and thus, will generate very little money for them in the long run.
This is why an applicant with an 800 score may be accepted over an applicant with a perfect 999. Take your rating as an indication of the general health of your credit profile, but don't be fooled into thinking lenders utilise these scores - they have their own profiling and scoring system that they use to make a decision.
All comments (91)
novak100
5 May 171#1
what are the 5000 nectar points worth of? can I spend them in their online shop for example, to buy a game?
Mogolent to novak100
5 May 17#2
£25 heh
writergirl74 to novak100
5 May 17#7
5000 points are worth £25 and can be spent in more than 100 retailers including Sainsbury (obviously ), Virgin Trains and Eurostar.
qalih
5 May 173#3
With an "excellent" credit rating, I've never been accepted by sainsburys, tried twice in 2 years.
RetiredGuy to qalih
5 May 171#16
My Experian score is just 9 points from the maximum and I too was declined just this week
Nick2013 to qalih
5 May 17#34
Same
user777 to qalih
5 May 17#35
what do you mean by "excellent"?
there is no such thing as credit rating (don't fall for this crap) but if you mean the meaningless credit score attached to your credit file by CCA then my noddle score is 613 and I have been accepted by Sainsbury
Gavin01
5 May 172#4
ive got excellent credit rating as well and just got turned down!
gunner90 to Gavin01
5 May 17#13
Likewise 2 months ago. God knows how one qualifies for it.
From_the_Midlands to Gavin01
5 May 17#27
Complain to them. Ask them to check your application manually. If you have managed credit well in the past, they'll turn their decline decision over.
brown_ambassador
5 May 1719#5
If you're transferring in a reasonable sized balance, a quick Google search shows for example the TSB Platinum 28 month 0% and ZERO fee (e.g. £5k transferring, that's £150 fee vs £0 fee). Far better in this scenario to get a low or no fee Bal Trx card, then have a great cashback card for spending (e.g. Amex). You usually get a window of up to 3 months to do your BT's, so can always transfer over your monthly spending for those months to the BT card if you have spare limit.
morpheus to brown_ambassador
5 May 172#9
Cheers for that heads-up mate. I've got £8k on an Amex 0% that ends in September. I have the cash to pay it off (have done since the start, i've just been using it for my regular monthly purchases and leaving the cash in the bank to earn a bit of interest) but if I can balance transfer without a fee like on the card you suggest, I can keep the £8k in my account to earn a bit more interest for an extra 2 years.
muffboy to brown_ambassador
5 May 171#40
Well said, I have NEVER EVER paid a balance transfer fee, 3%! forget it!
smellyonion
5 May 17#6
looks abit poor, unless you want a spending card. The transfer fee kills it for any other use.
coldjim
5 May 171#8
takes a while for the card to actually get to you. i applied last week and have signed the form they send out. still waiting on the card though... taking forever! :/
daveo78 to coldjim
5 May 17#23
Mine took about 3 weeks.
It said 7-10 days but took longer. I had arranged to take delivery of a car and put a large portion of it on this (zero-cost loan) and kept having to put it off. Managed to get the card days before VED bands were updated - just in time.
saykred to coldjim
5 May 17#29
I second this. I would not recommend applying for this if you are in a rush.
They messed me around a lot after accepting my application and were taking too long so I had to cancel.
luvsadealdealdeal
5 May 171#10
not having done one, how do you actually do a balance transfer?
let's say you have this card with a £5000 limit, and £4500 owing on another credit card
do you contact Sainsburys credit card people or your first credit card's people?
how does the money owed move from one a/c to another?
does the fee get added onto your owed balance @ Sainsbury's?
writergirl74 to luvsadealdealdeal
5 May 171#17
akajay07 to luvsadealdealdeal
5 May 17#21
Either by phone or online, you let the new credit card provider know that you want to want to transfer a balance, give details of the old card and they do all the leg-work. Yes, the fee gets added on. There are plenty without a fee though.
Personally, for balance transfers, I prefer the look of the Tesco 0% Balance Transfer Fee Credit Card. Up to 24 months 0% interest, no fee and £29 Quidco cashback potentially available. From past experience, Tesco appear to be pretty generous with credit limits too.
morpheus
5 May 177#11
How does the OP's deal differ from this deal which seems to have 0 balance transfer fee:
Just notice that my link goes to a 28 month 0% balance transfer, so one month less than the OP. Personally i'd definitely give up the extra month to save the fee.
![Fresh Breakfast Meat Box (Using code) @ Campbells Meat [Haggis / Lorne Sausage / Bacon / Black Pudding & More]](/images/topics/208684_1.jpg)
![[Xbox One] Q. u. b. e: Director's Cut on Deals with Gold](/images/topics/208716_1.jpg)
Opening post
It’s basically a three-in-one credit card: 0% on both balance transfers and purchases, plus rewards.
• Called the 29 month “Matched” offer purchase credit card, it offers 29 months at 0% on balance transfers and 29 months at 0% on purchases.
• Customers get 2 Nectar points per £1 spent on Sainsbury's shopping and 1 Nectar point for every £5 spent elsewhere.
Bonus points
If you apply by 21 May and use your Sainsbury’s credit card to pay for your Sainsbury's shopping or fuel four or more times in your first month, you’ll get 5,000 bonus Nectar points.
Watch to watch out for
You need to be a new Sainsbury’s Bank credit card customer.
There’s a 3% balance transfer fee (minimum £3).
After the 0% periods end the card has an APR of 18.9% – but, obviously, there’s no reason to ever pay it if you switch cards in 29 months’ time.
Make sure you pay at least the minimum payment each month – otherwise you risk the 0% deals and bonus Nectar points being cancelled.
And my own personal word of warning: If your current debt situation means you need a long 0% balance transfer deal, question whether you should continue spending on a credit card at all. Used sensibly, 0% cards can be a good way to spread costs but you should be aiming to pay off your debts, not add to them.
Why I like it
Although the card isn’t quite the best on offer for a dual 0% card (Santander offers 30 months on both with a lower BT fee of 2.75%), the Nectar points make it a hot deal.
Most cards offer either 0% deals or rewards, not many offer both.
Top comments
https://www.sainsburysbank.co.uk/credit_cards/micro/cca_nobtfee28s_micro?sid=717s&dfaid=AGG_ALL_091501
EDIT:
Just notice that my link goes to a 28 month 0% balance transfer, so one month less than the OP. Personally i'd definitely give up the extra month to save the fee.
This is why an applicant with an 800 score may be accepted over an applicant with a perfect 999. Take your rating as an indication of the general health of your credit profile, but don't be fooled into thinking lenders utilise these scores - they have their own profiling and scoring system that they use to make a decision.
All comments (91)
there is no such thing as credit rating (don't fall for this crap) but if you mean the meaningless credit score attached to your credit file by CCA then my noddle score is 613 and I have been accepted by Sainsbury
It said 7-10 days but took longer. I had arranged to take delivery of a car and put a large portion of it on this (zero-cost loan) and kept having to put it off. Managed to get the card days before VED bands were updated - just in time.
They messed me around a lot after accepting my application and were taking too long so I had to cancel.
let's say you have this card with a £5000 limit, and £4500 owing on another credit card
do you contact Sainsburys credit card people or your first credit card's people?
how does the money owed move from one a/c to another?
does the fee get added onto your owed balance @ Sainsbury's?
Personally, for balance transfers, I prefer the look of the Tesco 0% Balance Transfer Fee Credit Card. Up to 24 months 0% interest, no fee and £29 Quidco cashback potentially available. From past experience, Tesco appear to be pretty generous with credit limits too.
https://www.sainsburysbank.co.uk/credit_cards/micro/cca_nobtfee28s_micro?sid=717s&dfaid=AGG_ALL_091501
EDIT:
Just notice that my link goes to a 28 month 0% balance transfer, so one month less than the OP. Personally i'd definitely give up the extra month to save the fee.