Sainsbury’s Balance Transfer Credit Card review 2019

Take advantage of an interest-free period with Sainsbury's Bank's longest balance transfer deal.

Sainsbury’s customers can earn extra Nectar points as they shop, while managing their existing debts with this versatile card.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).

29 months

0% interest on balance transfers

19.9%

Representative APR

£0

Account fee

Up to 7,500 points

Intro bonus

Details

IssuerSainsbury's Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 29 months reverting to 19.95%
Balance transfer fee3% (min. £3)
Purchases0% for 3 months reverting to 19.95%
Purchases interest-free periodUp to 56 days
Money transfers25.95%
Cash advances25.95%
Min. credit limit£0
Max credit limitNot specified
Additional cards available1
IncentiveEarn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.

Expert review

Chris Lilly

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

This headline-grabbing deal offers Sainsbury’s fans an opportunity to get their finances on track with a long break from interest on balances transferred to the card.

Provided you can get approved, it is a very respectable balance transfer deal – just watch out for that percentage-based balance transfer fee of 3% (min. £3) (you could be better-served by a no-fee deal).

What’s more, as well as earning you Nectar points every time you use it, you’ll also earn bonus Nectar points on large Sainsbury’s shops for a limited period, on top of the standard Nectar rewards with every Sainsbury’s shop or fuel. Crucially, the points you can earn using a Sainsbury’s Bank credit card are in addition to the points you earn when you hand over or swipe your regular old Nectar card.

The card even boasts a short interest-free period on purchases… so what’s not to like? Well, it’s probably fair to say that Sainsbury’s bank is using some of the oldest tricks in the book to persuade cardholders to spend more on the card. And who can blame them? It’s how the Bank makes money after all. But all those incentives mean that you’ll have to exercise some self-control if you opt for this card and your primary focus is clearing existing debt. If you haven’t cleared that debt when the 29 months is up, the card’s infinitely-less-competitive standard rate kicks in. Ouch.

Played correctly, however, this card can see you come out on top – and now you know how to make that happen.

Pros and cons

Pros

  • Earn Nectar points on all your spending, and earn points at an enhanced rate when you use your card at Sainsbury’s.
  • Approved applicants will enjoy the full 29-month 0% period (other cards may be offered to some applicants with a shorter 0% period than advertised).

Cons

  • To transfer a balance there’s a fee of 3% (min. £3).
  • Try not to rack up additional debt through chasing points – it’s rarely worth it.

How does this card compare with other similar cards on the market?

Table: sorted by length of 0% balance transfer offer, promoted deals first
Updated November 21st, 2019
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Representative example
0% for 20 months reverting to 19.9%
2.9% (min. £5)
0% for 20 months reverting to 19.9%
£0
19.9% p.a. (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 29 months reverting to 19.95%
3% (min. £3)
0% for 3 months reverting to 19.95%
£0
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 29 months reverting to 19.95%
3% (min. £3)
0% for 3 months reverting to 19.95%
£0
19.9% p.a. (variable)
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 29 months reverting to 20.93%
2.75% for 2 months reverting to 5%
20.93%
£0
20.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 20.93% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 29 months reverting to 21.9%
3% for 2 months reverting to 5%
0% for 3 months reverting to 21.9%
£0
21.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).

Compare up to 4 providers

Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (08085 40 50 60), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply for the Sainsbury's Bank Balance Transfer Credit Card Mastercard

If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.

Finder credit card ratings

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Our team evaluates credit cards to determine their value against similar products on the market.

We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles etc. – how costly it is to use day-to-day and whether it offers much in the way of extras.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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