By: Kate Anderson | Updated: 5th December 2020.
The Sainsbury’s Bank Purchase Credit Card offers a long introductory 0% interest period for purchases, as well as 0% on balance transfers and bonus Nectar reward points. If you are looking for a card that offers a decent introductory period plus the ability to earn reward points, then read on.
The Sainsbury’s Purchase Credit Card is a solid option for those looking for a long introductory 0% period for purchases. The card does have a balance transfer offer as well, giving users 0% interest on balances transferred from other cards. However this is only three months and carries a 3% fee.
20 months 0% interest on purchases
Up to 7,500 bonus Nectar points over first 2 months
KEY SCORES:
This card is right in the mix with the longest introductory 0% interest periods on purchases currently on the market, at 20 months. Add to that bonus Nectar points and it is an enticing offer for regular Sainsbury’s shoppers who are looking to spread the cost of a new purchase over more than two years.
The Sainsbury’s Bank Purchase Credit Card’s main offer is the long interest-free period on purchases, but there is more to this card.
I worked on the front line of personal-finance best buys for over eight years at one of the world’s largest research companies, Nielsen. I reported daily on the developments of the 2008 financial crisis and beyond, keeping up with the changing financial landscape and providing insights to all the major banks in the UK. I know the key players in the market and the tactics behind how they behave. All of which I will apply to highlight the best deals and give honest reviews to help you in your search.
The Sainsbury’s Bank Purchase Credit Card is straightforward in its 0% purchases offer, but it could be improved in other areas.
With the headline introductory period of 20 months interest free on purchases, the Sainsbury’s Bank Purchase Credit Card is right up there compared with what is on the market currently. It is worth noting that some cards, including the Sainsbury’s Dual Offer Credit Card, have a 0% balance transfer period that matches that of the card’s purchases offer, but if you are not looking to make a balance transfer, then you couldn’t ask for much more. Added to that, if you are a regular Sainsbury’s shopper, then the potential for Nectar reward points may sway you in favour of this card.
The bank does state that applications will be treated on an individual basis and that the interest rate and credit limit offered will be determined by the details supplied. You must be a new Sainsbury’s Bank credit card customer in order to qualify for the promotion and be a UK resident of 18 years of age or more, as well as having an annual income of £10,000 or more. Additionally, applicants must not have been declined credit in the last month and must have no history of county court judgements (CCJs) or bankruptcy.
You can apply online or you can call Sainsbury’s Bank and provide the code ‘PURCHASE WEB’ to the operator.
If you already have a Nectar card, you will be asked to provide your Nectar card number during the application process.
You will also need to provide a mobile phone number and email address, as well as your personal details, residential address and details of your annual income.
The Sainsbury’s Bank Purchase Credit Card has one major selling point: one of the longest 0% interest introductory periods for purchases currently available. The card is one to consider if you are looking to make a large purchase and spread the cost over more than two years without having to pay interest. If you are already a Sainsbury’s shopper this may influence your decision, because not only can you earn Nectar points through your Sainsbury’s shopping, but you could also earn up to 7,500 bonus Nectar points in the first two months. However, if you are in need of a balance transfer offer in addition to the long interest-free period on purchases, then there are other cards available more suited to your needs.
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