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Market Leading Longest 29Mths 0% on Purchases / 18Mths 0% on Balance Transfers on The Nectar Purchase Credit Card + 5000 bonus Nectar Points @ Sainsburys Bank
Market Leading Longest 29Mths 0% on Purchases / 18Mths 0% on Balance Transfers on The Nectar Purchase Credit Card + 5000 bonus Nectar Points @ Sainsburys Bank

Market Leading Longest 29Mths 0% on Purchases / 18Mths 0% on Balance Transfers on The Nectar Purchase Credit Card + 5000 bonus Nectar Points @ Sainsburys Bank

Sainsburys bank are currently offering The Nectar Purchase Credit Card which is the market leading longest on 0% on purchases and offers the following:

0% interest on purchases for your first 29 months
0% interest on balance transfers for your first 18 months (3% balance transfer fee applies. Minimum £3 at all times)
No annual fee
Apply online

Collect points with your card

Like all our credit cards, this one lets you collect Nectar points wherever you shop. You’ll pick up 2 Nectar points for every £1 you spend on Sainsbury’s shopping and fuel, and 1 Nectar point for every £5 you spend elsewhere.

***********5,000 bonus Nectar points offer***************

Apply by 26th March 2017, and your points could add up even faster when you shop at Sainsbury’s. Spend £250 or more on your Sainsbury’s shopping and fuel in your first month and pay with your Sainsbury’s Bank Credit Card, and you’ll collect an extra 5,000 bonus Nectar points. You could use your points to treat yourself and your family without stretching your budget in the year ahead*.
To keep your promotional rate you must pay at least the minimum payment by the due date and stay within your credit limit. Nectar points collected using your Credit Card are in addition to the points you collect from swiping your Nectar Card or using it online during a transaction.

Hope that this helps a few people out.

28 Comments

Heat added & ordered thanks

don't need it atm but head added

Great find

Dumb question, what's the minimum payment usually? And then do you have to pay that minium each month to keep the 0% interest?

Never had a credit card but thinking of getting one too build my credit rating..

jrawlins28

Dumb question, what's the minimum payment usually? And then do you have … Dumb question, what's the minimum payment usually? And then do you have to pay that minium each month to keep the 0% interest? Never had a credit card but thinking of getting one too build my credit rating..



​usually 2pc or so, there's a min payment DD u can set up so don't need to worry

jackvdbuk

​usually 2pc or so, there's a min payment DD u can set up so don't need t … ​usually 2pc or so, there's a min payment DD u can set up so don't need to worry


Better to set a fixed price DD at a level £1 higher than the minimum payment, that way it wont be marked as promo/minpay on your credit record.

WillPS

Better to set a fixed price DD at a level £1 higher than the minimum … Better to set a fixed price DD at a level £1 higher than the minimum payment, that way it wont be marked as promo/minpay on your credit record.



​is this correct? handy to know if so!

jrawlins28

Dumb question, what's the minimum payment usually? And then do you have … Dumb question, what's the minimum payment usually? And then do you have to pay that minium each month to keep the 0% interest? Never had a credit card but thinking of getting one too build my credit rating..



From the summary box:
"The greater of:-
a) An amount equal to the total of interest, default charges, your monthly fee and 1% of the balance shown in your statement
b) 2.25% of the balance shown in your statement
c) £5 (or the full balance if less than £5)
plus any amount that you owe that is over your credit limit"

So a balance of £500 would have a minimum payment of £11.25 but obviously this would then take over 44 months to pay off and you would therefore begin paying interest as it wouldn't be paid off within the interest free period (29 months)

If wanting to build credit, use this for normal things like grocery shopping, car fuel etc as you would already be buying these things anyway and therefore can pay the full balance each month.

Go and buy a new flat screen tv for £600 that you didn't budget for and spending on a credit card can become a habit.
Edited by: "voodoo85" 18th Jan

5000 nectar points, isn't that fifty quid? The 3% fee could wipe that out depending on how much you are transferring.
Getting points in purchases could be handy.

WillPS

Better to set a fixed price DD at a level £1 higher than the minimum … Better to set a fixed price DD at a level £1 higher than the minimum payment, that way it wont be marked as promo/minpay on your credit record.



Not heard of this before?

I have been paying min amount on credit cards for the last 3.5 years, including doing a balance transfer to start a new one.... It hasn't affected my credit score.

dinosteveus

5000 nectar points, isn't that fifty quid? The 3% fee could wipe that out … 5000 nectar points, isn't that fifty quid? The 3% fee could wipe that out depending on how much you are transferring. Getting points in purchases could be handy.


nope it's only £25, plus you have to spend £250 at sainsbury's in first month to get it.

thermomonkey

Not heard of this before? I have been paying min amount on credit cards … Not heard of this before? I have been paying min amount on credit cards for the last 3.5 years, including doing a balance transfer to start a new one.... It hasn't affected my credit score.



Likewise. My credit score was 999 last week (the highest you can get) and I've been paying the min payment on my credit card for over four years.

thermomonkey

Not heard of this before? I have been paying min amount on credit cards … Not heard of this before? I have been paying min amount on credit cards for the last 3.5 years, including doing a balance transfer to start a new one.... It hasn't affected my credit score.


You don't have a single 'credit score' - if it's visible on your credit record then it could impact your credit score with any one lender depending on their algorithm.

If Experian (I presume it's them as they score up to 999) are indicating that your score is 999 then that only shows that their algorithm's do not take it in to account.

I agree it's a very minor consideration but it's worth £1 a month to avoid having a flag put on your credit record that lenders are more likely to construe negatively than positively (if they consider it at all).

Has anyone got any experience of using a 0% credit card to pay off vehicle finance? If I could pay the finance off with this card I'd save myself a nice wedge over the remaining term of my contract? I guess it depends if there is a fee from the finance company to pay off the existing debt by credit card. Maybe I've just answered my own question.

thermomonkey

Not heard of this before? I have been paying min amount on credit cards … Not heard of this before? I have been paying min amount on credit cards for the last 3.5 years, including doing a balance transfer to start a new one.... It hasn't affected my credit score.


Ive heard of this before on MSE, but personally doesnt bother me that much haha

vdob91

Has anyone got any experience of using a 0% credit card to pay off … Has anyone got any experience of using a 0% credit card to pay off vehicle finance? If I could pay the finance off with this card I'd save myself a nice wedge over the remaining term of my contract? I guess it depends if there is a fee from the finance company to pay off the existing debt by credit card. Maybe I've just answered my own question.



Like you say, depends on whether they accept CC as payment towards balance and even then, they may charge an early settlement fee/admin fee or charge ~2% for payment by credit card (as opposed to debit card)

Obviously if you know the answers to these then you can calculate whether you will still save money by going down this route

Hmm interesting. Thanks for the replys... And yes I use experian!

my offer is only 1000 nectar points, but no spend so a £5

I got my agreement through for this today and there are multiple mentions of "making a £1200 purchase right away." Is this something that you have to do to "activate" the 0% rate similar to some other cards or have I picked this up wrong?

Original Poster

gmc2806

I got my agreement through for this today and there are multiple mentions … I got my agreement through for this today and there are multiple mentions of "making a £1200 purchase right away." Is this something that you have to do to "activate" the 0% rate similar to some other cards or have I picked this up wrong?


I believe that this an illustration of the cost if you was to spent £1200, all credit cards you that illustration

Hope that answers your question

Does this also include Sainsburys Homebase ???

£250 on Sainsbury's shopping in a month...
that would be quite a challenge (for me)

thermomonkey

Not heard of this before? I have been paying min amount on credit cards … Not heard of this before? I have been paying min amount on credit cards for the last 3.5 years, including doing a balance transfer to start a new one.... It hasn't affected my credit score.


Definitel
themadgoose

​is this correct? handy to know if so!


Definitely not true my credit score is 989 out of a possible 999 and ive been paying minimum payments for the last 6 to 7 years on credit cards

Banned

i got the card its got a £5200 balance on it lets go shopping

sainsburysbank.co.uk/cardsbonus1000

Will get you a fiver of points

3 weeks from applying to getting PIN and card (which I think is on a longish side).
It comes without contactless feature which for some might be a positive factor.
For me however it is a negative point
Edited by: "user777" 20th Feb

I didn't hear a thing from them until today. Applied 3 weeks ago. Sent me an agreement to sign. Only needed £5k for a transfer but they gave me £8k.

So if purchases are made and the minimum payment is made the 0% interest will be intact for the whole promotional period? On the terms it state's (if anyone can confirm or am I reading this wrong?) that on the individual purchase's that amount needs to be settled with 60 days otherwise it start's to accrue interest regardless of any promotional 0% ??
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