Sainsbury's Bank Dual Offer Credit Card Mastercard Review January 2020
There's no interest to pay on purchases or balance transfers for a lengthy period with this Sainsbury's rewards card.
You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on balance transfers
0% interest on purchases
|Balance transfers||0% for 27 months reverting to 20.95%|
|Balance transfer fee||3% (min. £3)|
|Purchases||0% for 27 months reverting to 20.95%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£0|
|Max credit limit||Not specified|
|Additional cards available||1|
|Incentive||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.|
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.
One of the few cards offering 0% periods on both purchases and balance transfers and earning rewards at the same time, this is a really solid deal.
If you’ve got a big purchase coming up but you’re also still clearing an outstanding credit card balance, this is one of the longest “matched” or “balanced” deals you can find on the market. It will give you plenty of time to clear your debt without charging any interest.
However, there’s a 3% (min. £3) balance transfer fee that isn’t exactly on the cheap side of things and makes this card less competitive when it comes to transferring big balances.
Once the 0% deals are over, any outstanding balance will accrue interest at the card’s standard rate (which isn’t especially low). You need a plan to make sure your debt is paid back before that happens. Draft a budget, stick to it and try to pay back something every month.
The rewards are also competitive, especially considering that there’s no annual fee to worry about. As you may have guessed, people who regularly shop at Sainsbury’s will be able to make the most of this card. You’ll earn Nectar points every time you shop there (on top of those you get on your regular Nectar card!). The rest of your card spending will also be earning Nectar points, although at a much lower rate.
What you’ll like
- Earn Nectar points on all your spending, and earn points at an enhanced rate when you use your card at Sainsbury’s.
What to watch out for
- There’s a balance transfer fee of 3% (min. £3).
- Depending on Sainsbury’s Bank’s assessment of your credit profile and circumstances, you might be offered a different interest rate or shorter 0% periods.
How does this compare with other “matched” deals?
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 Dual Offer 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.