This Sainsbury's Bank* card offers the same 0% period as the Lloyds card above. You'll also get £20 cashback if you apply via our link and transfer at least £1,000 within one month - so if you're transferring between £1,000 - £3,400 the cashback will cancel out the fee.
Oddly, it charges a 1.5% fee when you do the transfer, but then refunds 0.91% within 60 days.
Need-to-knows
To be eligible for the £20 cashback, you need to apply before 13 Sep and make a balance transfer of at least £1,000 within the first month of opening the account.
If you're accepted, you'll definitely get the full 33mths at 0%. Sainsbury's isn't one of the lenders that will accept you, and then offer fewer 0% months.
After the 0% period ends, it’s 18.9% interest. But poorer credit scorers will get either 21.9%, or 28.9%.
If you transfer your balance after the first three months you'll pay 3% fee (min £3).
Always pay at least the minimum monthly repayment, or you'll lose the 0% deal.
Don't spend/withdraw cash on this card. It usually isn't at the cheap rate and cash withdrawals hit your credit file.
Cheaper than zero fee cards if transfering less than £3,400
So If you're transfering £1,700 then £10 of the cashback would pay off your balance so worth it evenif you have 12 months to go etc...
18 comments
terriclarkfan
18 Aug 17#1
Does Sainsbury's bank accept balance transfers FROM Marks & Spencer credit card? Sainsbury's seems to be administered by Bank of Scotland, but I can't determine if M&S is a truly separate bank.
jayman1986 to terriclarkfan
18 Aug 17#2
Considering M&S bank is owned by HSBC I don't think it would affect balance transfer to Sainsburys Bank which is no longer affiliated with Halifax Bank of Scotland which in it self is owned by Lloyds Banking Group......
kev8899 to terriclarkfan
18 Aug 17#3
Marks and spencer is Hsbc. You should be all good
terriclarkfan
18 Aug 17#4
Thanks to both of you for the clarification.
golf_r32
19 Aug 17#5
Just be aware that Sainsbury's seem to lag behind in technology... No contactless with this card and the website to manage your account is poor.
ollie87 to golf_r32
19 Aug 17#7
Don't see how this is an issue. You'd have to be a loon to use a balance transfer card to buy things.
donkey_spotter
19 Aug 17#6
"You'll also get £20 cash back if you apply via our link and transfer at least £1k" ... guys just be really careful, anyone can upload on hukd and the link could be misleading sainsburys.co.uk and seinsburys.co.uk...just watch out and always double check etc is all I'm saying. Have a good weekend x
FlahertyDeals
19 Aug 17#8
Poor limits. If need healthy limit is opt for the 33 month MBNA card
jansenspencer to FlahertyDeals
19 Aug 17#12
I've no opinion on the MBNA card, but strongly disagree about the "poor limits" statement. Care to elaborate?
FlahertyDeals to jansenspencer
19 Aug 17#13
In my experience for myself and assisting others. 50k salary and good credit
MBNA routinely offer 15k limits
Sainsbury's 3k limits
Appreciate each individual different
jansenspencer to FlahertyDeals
19 Aug 17#15
Fair enough - I know someone (not me) who got over £10k limit in similar circumstances to those you described, so I assume there's some "quirks" in the model they use
Nick2013
19 Aug 17#9
Hot. Although, my credit rating is near enough 5 out 5 but I never get accepted for anything financial from Sainsbury's
Gollywood
19 Aug 17#10
I have this. Good for balance transfers but pants after that.
No App. Very basic online service. Doesn't show pending transactions.
Basically, if I had my time again, I'd have never taken this card
martinwallis to Gollywood
19 Aug 17#11
Why would you take out this card for any other reason than to use for the initial balance transfer?
FlahertyDeals
19 Aug 17#14
Voted hot incidentally :smile:
FlahertyDeals
19 Aug 17#16
Indeed. Could be that for unknown reason I do not fit their profile. I find it a bit odd you cannot request required limit as part of application and if unable to offer does not complete application.... MBNA have always been very generous with limit and limit increases so I've found them worth the extra .% to move balances. I always run a 30k interest free balance. Wonder when BOE will stop the 'excessive' lending practices of credit card providers
3ak
19 Aug 17#17
HOT. Would have went for it but prefer the m&s deal posted few days ago with 50 quid vouchers.
trumpeter
19 Aug 17#18
Just make sure you pay it all off 1 month early. Because the day interest is due to start Sainsburys will start charging it, even if you clear the full balance by the due date. And the next month there will be some interest on the interest.
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Opening post
Oddly, it charges a 1.5% fee when you do the transfer, but then refunds 0.91% within 60 days.
Need-to-knows
18 comments
MBNA routinely offer 15k limits
Sainsbury's 3k limits
Appreciate each individual different
No App. Very basic online service. Doesn't show pending transactions.
Basically, if I had my time again, I'd have never taken this card