Sainsbury’s Finance has launched a new Sainsbury’s Nectar credit
card.
The new card offers a 15 month 0% introductory
offer on balance transfers and a 6 month 0% introductory offer on
purchases as well as a reward scheme. The card supersedes
Sainsbury’s Finance’s existing Nectar credit card, which will no
longer be available to new customers.
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The issuer supported the launch with some
research, which indicated that only 13% of credit cards available
in the UK offer both a 0% introductory offer on balance transfers
and purchases.
For rewards schemes, the figure decreased
to less than 2% of cards that offer rewards equivalent to 2%
cashback as well as 0% introductory offers on balance transfers and
purchases.
Similar to the existing card, the Nectar
credit card will offer double Nectar points on Sainsbury’s shopping
in store, online and in petrol filling stations for 2 years, giving
customers an extra 2 points for every £1 spent, the equivalent of
1% cashback on top of their usual Nectar card points.
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By GlobalData
