Sainsbury's Nectar 0% Balance Transfer Credit Card 33 Months + Nectar ponts @ Sainsburys
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Sainsbury's Nectar 0% Balance Transfer Credit Card 33 Months + Nectar ponts @ Sainsburys

24
Found 25th Sep 2014
Just saw this while shopping in Sainsburys and saw its longest 0% balance transfer ive seen it just shy of 3 years there is a 2.89% fee for first 3 months for transfers then 3% after

Our Sainsbury's Nectar Balance Transfer Credit Card lets you collect even more Nectar points when you shop at Sainsbury's. Just remember to pay with your Sainsbury's Nectar Credit Card and swipe your Nectar card.

0% balance transfers for the first 33 months from account opening
(2.89% fee applies during the first 3 months from account opening, then 3% onwards)
0% on purchases for the first 6 months from account opening
Collect double Nectar points on your Sainsbury's shopping*
Collect 2 Nectar points per £1 spent on Sainsbury's fuel*
One Nectar point for every £5 spent on your card elsewhere
No monthly or annual fee
No cash advance fee on Sainsbury's Travel Money purchases

24 Comments

Cracking deal.

Heat, but it depends on the maximum balance you get and the minimum fee you pay for successful stoozing

vns146

Heat, but it depends on the maximum balance you get and the minimum fee … Heat, but it depends on the maximum balance you get and the minimum fee you pay for successful stoozing



So is this a good card for stoozing? How much limit have people been getting and what are the minimum payments?

Cheers

Offerred £4000. Not great but should reduce my interest on my mortgage by a bit over 33 months. £115 fee but should save me about £420 if minimum payment was £10 month. Not bad for doing nothing but setting up a direct debit
Edited by: "jezzery" 25th Sep 2014

vns146

Heat, but it depends on the maximum balance you get and the minimum fee … Heat, but it depends on the maximum balance you get and the minimum fee you pay for successful stoozing



Years of hassle for a bit of interest below inflation level.. Complete waste of time and potential of that money.

BenderRodriguez

Years of hassle for a bit of interest below inflation level.. Complete … Years of hassle for a bit of interest below inflation level.. Complete waste of time and potential of that money.



Yes not worth it for a savings account but worth it if you are paying 6% on a mortgage like the one account where you can reduce your mortgage amount. Minimum payment is £5 so even better.

Sorry for being stupid...If its 0% for 33 months, what does this bit mean: "(2.89% fee applies during the first 3 months from account opening, then 3% onwards)"?

goldennugget1

Sorry for being stupid...If its 0% for 33 months, what does this bit … Sorry for being stupid...If its 0% for 33 months, what does this bit mean: "(2.89% fee applies during the first 3 months from account opening, then 3% onwards)"?

Let's say that you transfer £1000 from an existing credit card you have to this one. They will charge you £28.90 (2.89%) to transfer your money to your new credit card, from then on you will be charged no interest whatsoever for 33 months, please note you'll be subject to the usual credit card minimum payments.

goldennugget1

Sorry for being stupid...If its 0% for 33 months, what does this bit … Sorry for being stupid...If its 0% for 33 months, what does this bit mean: "(2.89% fee applies during the first 3 months from account opening, then 3% onwards)"?



It means you pay a fee of either 2.89% or 3% of the balance which you transfer, depending on how soon after opening the account you make the transfer.

goldennugget1

Sorry for being stupid...If its 0% for 33 months, what does this bit … Sorry for being stupid...If its 0% for 33 months, what does this bit mean: "(2.89% fee applies during the first 3 months from account opening, then 3% onwards)"?



There is an initial fee for transferring the money. So if you transfer a debt of £4000 to this card, then you will pay 2.89 fee which will come out of the £4000 you borrow. So will be £115 so you will only get about £3800. Then all you have to do is set up a minimum direct debit to cover the repayments (£5 per month) and then make sure you pay of the remaining total after the 33 months (when 0% runs out.) So total cost of borrowing £3800 (at a reducing rate of £5 per month) over 33 months is £115

Edited by: "jezzery" 25th Sep 2014

Barclaycard has better offers: 33m with 2.79% fee and £15 rebate, or 34m with 2.99% fee and £15 rebate.

Seft

Barclaycard has better offers: 33m with 2.79% fee and £15 rebate, or 34m … Barclaycard has better offers: 33m with 2.79% fee and £15 rebate, or 34m with 2.99% fee and £15 rebate.


Yes I've got that one too

thanks jezzery

Banned

miss a minimum payment and int. free period will cease - be waned, set up d.d minimum to cover you tush

Banned

further more you will lose certain prestige handing over a 'sainsburys' card to the waiter

jezzery

There is an initial fee for transferring the money. So if you transfer a … There is an initial fee for transferring the money. So if you transfer a debt of £4000 to this card, then you will pay 2.89 fee which will come out of the £4000 you borrow. So will be £115 so you will only get about £3800. Then all you have to do is set up a minimum direct debit to cover the repayments (£5 per month) and then make sure you pay of the remaining total after the 33 months (when 0% runs out.) So total cost of borrowing £3800 (at a reducing rate of £5 per month) over 33 months is £115



Min payment is the greater of £5 or 2.25%, so on £4000 the initial minimum payment would be £90 for the first month and only decreases slightly each month.

Seft

Barclaycard has better offers: 33m with 2.79% fee and £15 rebate, or 34m … Barclaycard has better offers: 33m with 2.79% fee and £15 rebate, or 34m with 2.99% fee and £15 rebate.



I just got accepted for this one which is slightly better I think, still good deal.

I have still to transfer my Natwest balance over though but I think I have 30 day's to that.

Heat added!

jezzery

Yes not worth it for a savings account but worth it if you are paying 6% … Yes not worth it for a savings account but worth it if you are paying 6% on a mortgage like the one account where you can reduce your mortgage amount. Minimum payment is £5 so even better.



Didn't think of that, but probably won't work for 1st time buyers, most banks won't be happy with using CC for deposit? Unless I'm wrong on that, pls correct me if so.

****$ have declined me what do you need a £50,000 income or something

BenderRodriguez

Years of hassle for a bit of interest below inflation level.. Complete … Years of hassle for a bit of interest below inflation level.. Complete waste of time and potential of that money.



I agree.
About 10 yrs ago, we had interest on savings of over 4% (for ISAs).
We could then pocket the diffference using the credit card balance transfer.

These days however, if savings accounts rates so low, it's a lot of work for little gain.

Bear this in mind if you are applying just to use this in Sainsbury's in the long term. From 11 April 2015, Sainsbury's are changing the way you earn Nectar points, so you'll earn 1 point for every £1* you spend in store and online at Sainsbury's. You'll also no longer receive 1 Nectar point for every bag you reuse in store.
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