Sainsbury’s Dual Offer Credit Card

Are you looking for a top 0% credit card? Do you also fancy a competitive 0% introductory period for balance transfers? This card gives you both.

So it seems that you can have your cake and eat it, after all. You don’t have to choose between a solid 0% intro rate on balance transfers or new purchases with this card, the Sainsbury’s Dual Offer Card gives you both. You can almost taste the difference!

Credit Rating Requirement: Good/Excellent

What I like about the Sainsbury’s Dual Offer Card

The Sainsbury’s Dual Offer Card rewards give you the best of both worlds, whether shifting a balance or making new purchases, and for 20 months as well. All this and a generous Nectar rewards scheme too.

• 0% intro new purchases offer – For 20 months, you’ll pay 0% interest on new purchases with this card. That means you’ll be riding the 0% highway for nearly two years!
• 0% intro balance transfer offer – In addition, you can transfer your existing credit card balance and you will pay zero interest on it for the next 20 months (though note that there is a fee on balance transfers). That’s not too far from the longest 0% balance transfer cards on the market… and with this card you get even more.
• Bonus Nectar points – You can also claim up to 7,500 bonus Nectar points in the first two months. Shoppers get 750 bonus points each time they spend £35 or more at Sainsbury’s on their new card, up to a maximum 10 times in the first two months.
• Points wherever you shop – The rewards keep coming after that, at the rate of two Nectar points for every £1 spent on Sainsbury’s shopping and fuel. You also get points on spending elsewhere, at the rate of one point for every £5 spent.
• Other benefits – There is no annual fee on this card and you also get the standard 56 days interest-free credit on new purchases once the 20-month introductory period is over, provided you pay your balance in full and on time each month.
• Worth knowing – As with most 0% intro rate cards you must make all your minimum monthly payments on time, and never exceed your credit limit. If you slip up, Sainsbury’s may charge its standard APR for that month. Also, there is no 0% introductory rate on cash advances, instead you pay a 3% fee with a minimum £3 charge. Similar, there is no 0% period on cash, so you’ll be charged interest from the day you withdraw cash until it’s paid off. There is also a 4% fee for money transfers, with a minimum of £4.

Why trust me

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Harvey Jones

I’ve been a personal financial journalist for 30 years, writing for national newspapers, magazines and websites. I reported on the technology boom in the 1990s, and the subsequent bust. I covered the financial crisis, and the tentative recovery. Decades of writing about the big banks has taught me to be sceptical, to examine every pledge and promise, and look closely at the small print of their product offerings. I’m on the side of the consumer, alert to rip-offs while also keen to highlight top deals. There are plenty out there, if you know where to look.

What could be improved

The Sainsbury’s Dual Offer Card is fresh and fruity but there are still a few blemishes worth highlighting.

• Balance transfer fee – You have to pay a one-off fee when you transfer your balance, and it’s at the higher end of the scale at 3%. So if you shift over £1,500, you will have to fork out £45. That’s not the end of the world, but some cards have a smaller fee or none at all, so if you’re primarily looking for a balance transfer offer, it may be worth checking out no-fee alternatives before you apply.
• High APR on purchases – The card’s representative APR on purchases is marginally higher than the rest of the market, with most charging 18.9%. It’s only a minor difference, but even so, it’s worth noting. That’s not a problem if you plan to clear your balance in full every month, though.
• Foreign usage fees – If you use your card abroad you will pay a non-sterling transaction fee of 2.75%, adding £2.75 to every £100 you spend. You also pay a 3% fee on cash withdrawals, with a minimum £3 charge. You can get round that easily enough, by finding a separate credit card for your holidays with 0% foreign usage fees.

How does this Sainsbury’s Bank offer stack up?

The 0% new purchases rate on this card is a big selling point. Add to that a 20-month balance transfer offer, and you’re looking at a solid combo, especially when you consider that the longest balance-transfer cards are in the 28- or 29-month range. The Nectar points sweeten the deal even further.

As I mentioned earlier, you’ll face a fee on balance transfers here, but that is often the case with longer 0% balance-transfer periods. If you can get by with a shorter 0% balance-transfer period, you should be able to find a card without a balance-transfer fee.

The Sainsbury’s Dual Offer Card credit score

Sainsbury’s Bank will assess your application based on a number of factors, including the information on your application form and if an existing banking customer, what they already know about you. They will also examine your credit report, which is a history of your personal borrowing history over the last six years. Providers are only obliged to give their tempting headline rates to 51% of applicants, those with past credit problems may get an inferior deal, or be rejected altogether. As ever, it helps if you credit history is squeaky clean.

How to apply

You can apply online and also by phone or post. You need to supply standard details such as your current address and phone number, as well as your address history for the previous three years, employment status, length of time you’ve been with your current bank and finally, details of any balance transfer to be applied to your new card. It’s worth assembling all the information you are likely to need before making your application. If worried about your credit record, it might be worth checking that in advance.

Is the Sainsbury’s Dual Offer Card right for you?

I have one quibble with this offer. Do you really need such a lengthy introductory rate on both a balance transfer and new purchases? If you have credit-card debt, you really should be spending the intro period paying that down. If you simultaneously go on a spending spree on new purchases, you are pulling in two different directions at once. It could be seen as an invitation to take on yet more debt. So it’s important to remember that this still has to be paid back one day. This could be something to consider before you sink your teeth into this juicy deal.

That said, the long 0% intro period on purchases could be great if you’ve got a big purchase, or series of purchases, on the horizon. And it’s even better if you are looking to consolidate a bit of higher-rate credit-card debt from elsewhere, and thereby make use of the balance-transfer offer. But frankly, thanks to the Nectar rewards scheme, the card could be good for anyone that wants to get rewarded just for pulling out their plastic!

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