Sainsbury’s Bank Low Balance Transfer Fee Credit Card review November 2019

Like its rivals Barclaycard and Virgin Money, Sainsbury's Bank now offers a spread of balance transfer deals in the hope that one of them will be just right for you.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).

26 months

0% interest on balance transfers

20.9%

Representative APR

£0

Account fee

Details

IssuerSainsbury's Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 26 months reverting to 20.95%
Balance transfer fee1.99% (min. £3)
Purchases0% for 3 months reverting to 20.95%
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

Slotting into the middle of Sainsbury’s Bank’s range of balance transfer deals, this card offers a 26-month window in which you won’t pay interest on your transferred balance in return for a reduced balance transfer fee (which is a percentage of the balance you wish to transfer).

Naturally, when seeking to clear existing card debt, you should look for no-transfer-fee deals first. The trouble is that these tend to not have the longest 0% interest periods. If you really need as long as possible at 0%, then a transfer fee might be worth swallowing.

Sainsbury’s Bank specifies that some applicants may be offered a shorter 0% period, depending on individual circumstances (typically if you have a limited or less-than-perfect credit history).

Like all Sainsbury’s cards, this offer comes with the opportunity to earn Nectar points. Transferred balances won’t earn Nectar points though, only additional spending will. So if your main objective is clearing your card debt, try not to be tempted into using your card to make purchases, just to collect a few points. Once the 26 months are up, any outstanding balance will start to accrue interest at the card’s standard rate of 20.9% (that’s a variable rate, so it may well have moved by that point).

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

Sainsbury’s card

Updated November 21st, 2019
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Representative example
0% for 26 months reverting to 20.95%
1.99% (min. £3)
0% for 3 months reverting to 20.95%
£0
20.9% 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 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).

Compare up to 4 providers

The competition

Table: sorted by representative APR, 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).
0% for 28 months reverting to 19.94%
3% (min. £3)
0% for 6 months reverting to 19.94%
£0
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 28 months reverting to 21.814%
2.98% for 28 months reverting to 3.99% (min. £3)
0% for 3 months reverting to 19.944%
£0
19.9% p.a. (variable)
1 point per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco. Must have available credit to earn points. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points.
Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 28 months reverting to 19.9%
2.85% (min. £5)
0% for 6 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 or 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).

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). Alternatively, you can set up a direct debit. A direct debit is a great idea because it means you won’t forget to make a repayment and either damage your credit score, get hit with a penalty fee or lose any promotional rates as a result.

If you transfer a balance to this card, you could divide that balance by 26 and set up a direct debit for that amount each month. This will ensure you are debt-free before the 0% interest period expires. If you do this, bear in mind these payments won’t factor in any additional spending on the card, and also that once you’ve cleared the balance, you’ll then want to adjust the direct debit.

You can arrange regular direct debit payments 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 Low Balance Transfer Fee Credit Card

If you’ve compared cards and want to apply, complete the secure online application form to start, which 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.


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