Sainsbury’s launches 15-month 0% all-round credit card

You can now enjoy 15 months of 0% interest on both purchases and balance transfers with the new Nectar credit card.

Sainsbury’s has revamped its credit card range, launching a new Nectar credit card that offers 0% interest on both purchases and balance transfers for 15 months.

That makes it one of the best options around if you’re looking at some big purchases, while the fact that it doubles your Nectar points on all Sainsbury’s shopping makes it even more attractive to regular shoppers at the supermarket.

However, it’s not quite the best all-round credit card.

I want to spread payments on my purchases!

If you’re only interested in a long 0% period for your spending, then the new Sainsbury’s Nectar card is an excellent option.

Its 15 months is one of the longest interest-free periods around, while you earn Nectar points even when you shop elsewhere – one point for every £5 spent. It also comes with a competitive representative APR of 16.9%.

So Sainsbury’s is now one of a handful of providers offering 15 months free from interest when you use your card for spending. However, it falls short of the Tesco Clubcard and Halifax Purchase cards.

I want time to pay off my existing debts as well as my new purchases

One of the selling points of the Sainsbury’s Nectar card is that it offers an equally long period of 0% interest on balance transfers as it does on new purchases. So if you have existing credit card debt and also face the prospect of a big purchase or two, an all-round credit card like this can save you money and hassle!

Let’s take a look at how the best all-round credit cards shape up in terms of their balance transfer fee, which is the percentage of the debt you want to transfer you'll be charged to move it.

So while Sainsbury’s offers the joint longest 0% period, it falls behind the rest due to the balance transfer fee it charges. And that larger fee can be pretty significant. On a £3,000 transfer, you would pay a fee of £90 on the Sainsbury’s card, compared to just £24 with the Halifax All in One card.

Once again, while the Sainsbury’s Nectar card is a competitive card if you want to use it for both purchases and balance transfers, unless you’re a dedicated Sainsbury’s shopper you can do better elsewhere.

And if you need longer to pay off your existing card debt, you’re best off getting a dedicated balance transfer credit card. The longest 0% period is now an incredible 30 months! For more read The best 0% balance transfer credit cards.

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The best 0% balance transfer credit cards

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