Sainsburys Credit Card

Sainsburys Bank credit card review: Sainsburys

IF you need more inducement than Jamie Oliver's cheeky little face to switch your credit card (really? but he's so cheeky!) then you're in luck with the Sainsbury's credit card.

Sainsbury's credit card holders have access to three high-quality 0% interest offers: no interest on Sainsbury's purchases for 12 months and no interest on other purchases or transferred balances for nine months.

Unfortunately, though, Sainsbury's telecoms and energy purchases aren't included and neither are cash advances made with the card.

Another downside is that the Sainsbury's purchases offer is a little longer than the other 0% deals.

You could get round this easily by getting hold of a Nectar card free of charge.

That'll allow you to apply for the Sainsbury's Credit Card for Nectar Cardholders with 12 months 0% on all purchases and balance transfers.

On the other hand, as long as you remember that payments are applied to 0% balances first and clear other balances before using the card in those last three months to spread the cost of a Sainsbury's shop, you'll be fine.

Most importantly, after the 0% offers have finished the Sainsbury's credit card is still a good deal.

The high-ish 15.9% means that'll be most suited to those who usually clear their balance in full every month but you have 59 days to clear the balance without running up interest charges, much longer than most credit cards.

In conclusion, even if you're not a huge Sainsbury's shopper the Sainsbury's credit card could save you money whether you want to reduce another credit card debt or just spread out the cost of some shopping.

Interest Rates and Fees
		Notes..
Typical APR	15.9% APR (variable)	15.9% APR (variable), 19.9% APR (variable) and 21.9% APR (variable) The rate you receive will depend upon an assessment of your circumstances. In any month where interest is incurred between 1p and 50p, you will be charged a minimum of 50p instead. The typical APR is the rate most people are offered.
Introductory Purchases	0% for 9 months	You'll also receive 0% on Sainsbury's purchases for 12 months. Payments will be applied towards 0% Sainsbury's purchases before 0% balance transfers or other 0% purchases.
Balance Transfers	0% for 9 months	Payments will be applied towards 0% Sainsbury's purchases before 0% balance transfers.
Balance Transfer Fee	3% (£3 minimum)
Cash Withdrawal Rate	24.93% p.a. (variable)
Cash Withdrawal Fee	3% (£3 minimum)
Annual Fee	None	-
Foreign Transaction Fee	2.75%	This fee will be charged if you make a purchase or cash withdrawal in a foreign currency.

Cardholder Services & Extras
Online Account Management		You can log in to the Sainsburys Bank web site and manage your Sainsburys credit card account online.
Internet Fraud Guarantee		As long as you follow the precautions, you won't be held liable for any online banking activity you haven't authorised.
Fraud Monitoring
Identity Protection
MasterCard SecureCode		An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers.
Purchase Protection Insurance
Purchase Delivery Insurance
Comprehensive Travel Insurance
Travel Accident Insurance
Travel Inconvenience Insurance
Assistance Abroad
Emergency Card Replacement
Other Extras	- Card replacement if lost - Additional cards available for family members over 18 years old.
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Identitycare - Repayment cover - Card protection.

Payments & Payment Details
		Notes..
Credit Limit	£500 minimum	Maximum credit limit is subject to status.
Interest Free Period	Up to 59 days	Actual interest free period will be displayed on your statement. The interest free period is for purchases if you pay the balance in full and on time. There is no interest free period on balance transfers, cheques or cash advances.
Minimum Monthly Payment	2.25% (£5 minimum)	The minimum monthly payment will be the greater of: - 2.25% of your outstanding balance, OR - £5.
Allocation of Payments	Lowest rate balances » Highest rate balances (Default sums » Balance transfers » Purchases » Cheques » Cash advances). Except during periods of 0% interest where Sainsbury's purchases will be paid off first.	If you do not pay off your statement balance in full, your payment will be applied first towards balances where no interest is charged, then those at lower rates before those at higher rates. Where two balances are charged at the same rate of interest, your payment will be applied to transactions in the following order: default sums, balance transfers, purchases, cheques and then cash advances. During the 0% introductory offer, payments will be applied towards 0% Sainsbury's purchases first, and then 0% balance transfers and then 0% purchases.
Default Charges	£12	- Late Payment Fee: £12 - Overlimit Fee: £12 - Returned Payment Fee: £12 - Letter Fee: £10
Copy of Statement Fee	£5	This is the fee you will be charged for duplicate statements.

Card Details
		Notes..
Online Application	Yes
Card Type	Classic
Payment Company	MasterCard	The company who provides the payment technology and infrastructure to allow you to use this credit card. Retailers and ATM machines displaying the 'MasterCard' logo will accept this credit card.
Card Issuer	HBOS	The bank who issues this credit card.
Card Advertiser	Sainsbury's Bank	The company who advertises and promotes this credit card.

Review Continued...

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