Sainsbury’s Bank Nectar Reward Credit Card review 2020

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Earn additional Nectar points on all purchases and bonus introductory offer with this reward card.

With a generous rewards points scheme and 0% balance transfer period, the Sainsbury’s Bank Nectar credit card is a well-rounded and low-cost reward card.

You say: ★★★★★We say: ★★★★★

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).

Earn 3 points

per £1 spent with select partners

Earn 1 point

per £5 spent elsewhere

Up to 10,000 points

Intro bonus

20.9%

Representative APR

Details

IssuerSainsbury's Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 17 months reverting to 20.95%
Balance transfer fee3% (min. £3)
Purchases0% for 17 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 10,000 Nectar points if £400 spent at Sainsbury's, Argos or Tu Clothing during first two months of opening. Earn up to 3 Nectar points per £1 spent at Sainsbury's and Argos. 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

If you’re an avid Sainsbury’s shopper or Argos advocate, the Sainsbury’s Nectar Reward credit card can help you get more out of your purchases.

You can earn up to 3 Nectar points for every £1 spent at Sainsbury’s and Argos, and even earn a bonus 10,000 Nectar points if you spend £400 at those stores in the first two months.

But those who are unlikely to do much of their spending at these stores may find the reward scheme a bit lacklustre, with regular purchases only earning 1 Nectar for every £5 spent.

As well as a decent Nectar points programme, you’ll also get a generous 0% balance transfer period, competitive purchase rate and no annual.

This makes the Sainsbury’s Nectar credit card an impressively solid all-rounder, even for those who may not be able to get the most out of the reward scheme.

Pros and cons

Pros

  • Over a year of 0% interest to focus on reducing existing card debt
  • Over a year to spread the cost of purchases
  • Earn points on day-to-day spending
  • Up to 10,000 points introductory bonus
  • No annual fee

Cons

  • Minimum annual income requirement of £10,000
  • Relatively high money transfer fee

How does it compare?

Sainsbury's Bank's card

Data indicated here is updated daily
Name Product Max. intro bonus Earn-rate with brand Default earn-rate Annual/monthly fees Rep. APR Link Incentive Representative example
Sainsbury's Bank Nectar Reward Credit Card
Sainsbury's Bank Nectar Reward Credit Card
10,000 points
3 points per £1 spent
1 point per £5 spent
£0
20.9% (variable)
Earn 10,000 Nectar points if £400 spent at Sainsbury's, Argos or Tu Clothing during first two months of opening. Earn up to 3 Nectar points per £1 spent at Sainsbury's and Argos. 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).
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Other popular reward cards

Table: sorted by representative APR, promoted deals first
Data indicated here is updated daily
Name Product Max. intro bonus Earn-rate with brand Default earn-rate Annual/monthly fees Rep. APR Link Incentive Representative example
M&S Bank Transfer Plus Mastercard
500 points
1 point per £1 spent
1 point per £5 spent
£0
19.9% (variable)
Check eligibility
More Info
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).
M&S Bank Reward Plus Mastercard
500 points
2 points per £1 spent
1 point per £5 spent
£0
19.9% (variable)
Check eligibility
More Info
Double points on spend in M&S for first 12 months (2 points per £1). Then 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).
M&S Bank Shopping Plus Mastercard
500 points
1 point per £1 spent
1 point per £5 spent
£0
19.9% (variable)
Check eligibility
More Info
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).
American Express Platinum Cashback Everyday Card
£100
1% cashback
1% cashback
£0
22.2% (variable)
Go to site
More Info
New Cardmember offer: Get 5% cashback on your purchases (up to £100) for the first 3 months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a., your representative rate is 22.2% APR (variable).
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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

You can make manual repayments through Sainsbury's Bank's app, by logging in to your online banking or over the phone (08085 40 50 60). Alternatively you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) 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

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.

Frequently asked questions

Can I withdraw cash using the Sainsbury's Bank Nectar Reward Credit Card?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Sainsbury's Bank Nectar Reward Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250, and you'll incur a fee of £7.50.

The interest rate on this part of your balance will be 25.95%, which is 24% more than the standard purchases rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the Sainsbury's Bank Nectar Reward Credit Card abroad?

Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£177.37), it'll cost you around £4.88.

What is the minimum payment on the Sainsbury's Bank Nectar Reward Credit Card?

Each month you must pay at least 2.25% of your balance at that point or £5.00 – whichever of the two figures is greater. So if you had, say, £200.00 outstanding, you'd pay £5.00, and if you had £888.89 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it makes it much harder to get debt-free before that introductory 0% period expires.

Can I request an additional Sainsbury's Bank Nectar Reward Credit Card?

Yes, you can request one more. There's no fee for additional cards. Plus, with additional cards, you could earn Nectar points at a faster rate. Bear in mind that card debt accrued by additional cardholders is the sole responsibility of the account holder – not the additional cardholder.

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