Sainsbury’s Bank Purchase Offer Credit Card review March 2020
Pay off your purchases over time and earn rewards as you shop with the Sainsbury's Bank Purchase Credit Card Mastercard.
You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on purchases
Up to 7,500 points
|Balance transfers||0% for 3 months reverting to 20.95%|
|Balance transfer fee||3% (min. £3)|
|Purchases||0% for 20 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.
If you’re anticipating a large expenditure, then a card with a long interest-free period on purchases can let you spread the cost over a manageable timeframe, without it costing you any more.
Play your cards right and you could also end up with a big Nectar points bonus in your first few months – that’s in addition to an ongoing offer of Nectar points every time you use your card at Sainsbury’s (which is itself in addition to the points you already earn when you hand over or swipe your regular Nectar card). Provided you don’t get addicted to collecting points and end up making purchases you wouldn’t have otherwise, this card could be a smart choice.
And in case you already have an outstanding balance with another card issuer, this card also comes with an introductory interest-free period on balance transfers. Just beware of the transfer fee.
Pros and cons
- Earn Nectar points on all your spending, and earn points at an enhanced rate when you use your card at Sainsbury’s.
- Transfer existing card debt and enjoy a 3-month break from interest.
- 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 rate or shorter 0% periods.
How does this card compare with other similar cards on the market?
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.
If you’re interested in this Sainsbury’s credit card because you want to spread the cost of a hefty expense, say, a new car or a wedding, then once you know what that’s going to cost you, you could divide that figure by 20 to ensure you clear the debt before the 0% period expires.
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 Purchase 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.