Sainsburys introduces new Nectar Credit Card

Tue, 25 Oct 2011
 
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Supermarket chain Sainsbury’s has launched a new Nectar Credit Card, offering customers a rate of just 6.9 per cent APR – the lowest on the UK market.

The new card, which is 1 per cent cheaper than the Simplicity product from Barclaycard, is available to existing Nectar Card customers and according to Sainsbury’s comes with a no fee balance transfer at the "lowest rate available on any card in the market".

Customers also get 0 per cent on balance transfers for 15 months (3 per cent balance transfer applies), 0 per cent on all purchases for 6 months, double Nectar points for every £1 spent on their card in Sainsburys for the first two years and one Nectar point for every £5 spent elsewhere.

Andrew Hagger of Monweynet.co.uk says: "With an APR of just 6.9 per cent this card is a much cheaper way to manage your cash flow than an overdraft ."

"Even if you can’t clear your statement balance in full every month the interest charges aren’t going to hit your pocket too hard."