Sainsbury’s Bank No Balance Transfer Fee Credit Card review 2020

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If you want to clear your credit card debt sooner rather than later, then a no-fee balance transfer deal is a sensible first post of call.

Although it’s not the longest interest-free balance transfer deal available from Sainsbury’s, this card comes with the added appeal of not having a transfer fee – handy if you’re bringing across a hefty balance.

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).

18 months

0% interest on balance transfers

0%

Balance transfer fee

20.9%

Representative APR

£0

Account fee

Details

IssuerSainsbury's Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 18 months reverting to 20.95%
Balance transfer fee0% for 3 months reverting to 1% (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 3 Nectar points per £1 spent in 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 want to clear your credit card debt sooner rather than later, then a no-fee balance transfer deal is a sensible first post of call. You’ll usually find that these deals don’t come with the very longest 0% periods around, but if Sainsbury’s Bank’s respectable offer of 18 months gives you long enough to get debt-free (divide your outstanding debt by 18 to see what you’d need to pay each month), then great. If not, check out longer offers.

New customers can also take a break from interest on purchases for 3 months, so if clearing debt is the long-term goal but further spending in the short-term is unavoidable, you’re covered.

As well as Nectar points each time you shop or re-fuel at Sainsbury’s, there’s a very appealing introductory bonus Nectar points offer. What’s more, the points you 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.

All these benefits without needing to stump up annual fee… So what’s the catch? Well, aside from the fact that there are longer 0% deals on the market, the real kicker here (as with most balance transfer deals) is a pretty punishing revert rate. Once your 0% period has expired (by which point that Nectar welcome bonus will be a distant memory) any outstanding debt will suddenly become quite expensive. At that point, unless you’re religiously clearing your full balance each month, it’ll likely be time to switch.

Pros and cons

Pros

  • Over a year of 0% interest to focus on reducing existing card debt
  • Three months to spread the cost of purchases
  • No balance transfer fee
  • Earn points on day-to-day spending
  • Up to 7,500 points introductory bonus
  • No annual fee

Cons

  • Minimum annual income requirement of £10,000
  • Applicants with low credit scores are unlikely to be eligible
  • Relatively high money transfer fee

Compare against other cards with introductory no-fee periods

Table: sorted by length of 0% balance transfer offer, promoted deals first
Data indicated here is updated daily
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Link
Santander All in One Credit Card
0% for 26 months reverting to 15.9%
0% for 26 months reverting to 3% (min. £5)
0% for 26 months reverting to 15.9%
£3 per month
21.7% (variable)
0.5% after £1 of monthly spend. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 15.9% (variable) p.a. with a fee of £3 per month, your representative rate is 21.7% APR (variable).
More Info
Santander Everyday Credit Card
0% for 18 months reverting to 18.9%
0% for 18 months reverting to 3% (min. £5)
0% for 3 months reverting to 18.9%
£0
18.9% (variable)
Retailer offers - 5 Welcome offers of up to 25% cashback at well-known retailers (must switch on Retailer Offers within 60 days of activating card).
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
More Info
Sainsbury's Bank No Balance Transfer Fee Credit Card Mastercard
0% for 18 months reverting to 20.95%
0% for 3 months reverting to 1% (min. £3)
0% for 3 months reverting to 20.95%
£0
20.9% (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 3 Nectar points per £1 spent in 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).
More Info
Santander World Elite Mastercard
0% for 18 months reverting to 18.9%
0% for 18 months reverting to 3% (min. £5)
0% for 18 months reverting to 18.9%
£15 per month
49.8% (variable)
0.5% on £1 to £3000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £15 per month, your representative rate is 49.8% APR (variable).
More Info
Danske Bank Standard Mastercard
0% for 5 months reverting to 22.85%
0%
0% for 5 months reverting to 22.85%
£0
22.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 22.85% (variable) p.a., your representative rate is 22.9% APR (variable).
More Info
TSB Advance Credit Card Mastercard
0% for 3 months reverting to 7.95%
0% for 3 months reverting to 3%
0% for 3 months reverting to 7.95%
£0
7.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 7.95% (variable) p.a., your representative rate is 7.9% APR (variable).
More Info
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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 No Balance Transfer Fee Credit Card

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.

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