Finance Choices
Sainsbury's Credit Card
About Sainsbury
J. Sainsbury Plc is a well known and respected food retailer in the UK. However recent market diversification has seen J. Sainsbury expand to other markets, selling non food retail products and joining the financial services sector and offering many different financial products including UK credit cards. Sainsbury aims to provide customers with top quality products at affordable prices. Sainsbury?s roots can be traced back to 1869 when the first store was opened in London; they now have 583 stores of which 50 have in-store banking centres. They also run one of the most successful loyalty card schemes with over 50% of UK households participating in the scheme. Today in the UK a typical Sainsbury store offers over 34000 products to consumers.
Operating in the UK J. Sainsbury have five operating divisions, they employ around 150,000 and have a group turnover of over £18000 million in 2004. Of these workers 62% are female and 60% are part time. Sainsbury Bank begun life at the start of February 1997 in a venture which saw them join forces with The Bank of Scotland, common nowadays Sainsbury?s were the first UK supermarket to open a banking division. Over 2 million customers have enjoyed the benefits of banking with Sainsbury with their original idea. Sainsbury offer a wide range of financial products for which they have won several awards. The Bank was named ? Best Overall Provider? in 2003 by the Money Direct Awards and was singled out for performing excellently well in all the categories measured. They have also managed to achieve both of the following awards for an amazing five out of the last 6 years, ?Best Personal Loans Provider? and ?Best Home Insurance Provider?. Both were awarded by Your Money.
Sainsbury's Credit Card
Whatever you want, you should buy it with a Sainsbury's Bank Standard credit card. Whether you're into shoes, clothes, DIY or simply enjoy travelling, you can now shop for the next 12 months and not pay a penny in interest.
It's not just a great purchase rate, if you're paying high rates on existing outstanding credit or store card balances, wthey can help with this too. Switch them to your Sainsbury's Bank credit card and you'll only pay a lower rate on balances transferred within the first six months, until the balance is paid off. Any balances transferred after the six month period will attract their low standard rate.
At Sainsbury's Bank they believe a credit card should offer more than just great rates. That's why they'll be offering you a series of exclusive benefits including a fantastic voucher booklet saving you up to £150, including money off your shopping at Sainsbury's.
In addition to great rates and exclusive offers, you'll also earn 1 Nectar point for every full £2 you spend on your Sainsbury's Bank credit card. Nectar points can turn into almost anything.
Or, if you prefer your rewards in the form of cashback on your spending, that's no problem. Tell them and your account will be credited automatically at the end of each year with cashback.
Benefits of the Sainsbury's Credit Card
Perfect for people earning over £20,000 a year and this credit card offers a great range of benefits. Now you can shop online with complete confidence and peace of mind... thanks to Sainsbury's Bank Secure. Part of the global 'Verified by Visa' programme, this new service ensures that only you can use your Visa card to make purchases on the internet. An excellent card offering the best benefits on the market.
J. Sainsbury Plc is a well known and respected food retailer in the UK. However recent market diversification has seen J. Sainsbury expand to other markets, selling non food retail products and joining the financial services sector and offering many different financial products including UK credit cards. Sainsbury aims to provide customers with top quality products at affordable prices. Sainsbury?s roots can be traced back to 1869 when the first store was opened in London; they now have 583 stores of which 50 have in-store banking centres. They also run one of the most successful loyalty card schemes with over 50% of UK households participating in the scheme. Today in the UK a typical Sainsbury store offers over 34000 products to consumers.
Operating in the UK J. Sainsbury have five operating divisions, they employ around 150,000 and have a group turnover of over £18000 million in 2004. Of these workers 62% are female and 60% are part time. Sainsbury Bank begun life at the start of February 1997 in a venture which saw them join forces with The Bank of Scotland, common nowadays Sainsbury?s were the first UK supermarket to open a banking division. Over 2 million customers have enjoyed the benefits of banking with Sainsbury with their original idea. Sainsbury offer a wide range of financial products for which they have won several awards. The Bank was named ? Best Overall Provider? in 2003 by the Money Direct Awards and was singled out for performing excellently well in all the categories measured. They have also managed to achieve both of the following awards for an amazing five out of the last 6 years, ?Best Personal Loans Provider? and ?Best Home Insurance Provider?. Both were awarded by Your Money.
Sainsbury's Credit Card
Whatever you want, you should buy it with a Sainsbury's Bank Standard credit card. Whether you're into shoes, clothes, DIY or simply enjoy travelling, you can now shop for the next 12 months and not pay a penny in interest.
It's not just a great purchase rate, if you're paying high rates on existing outstanding credit or store card balances, wthey can help with this too. Switch them to your Sainsbury's Bank credit card and you'll only pay a lower rate on balances transferred within the first six months, until the balance is paid off. Any balances transferred after the six month period will attract their low standard rate.
At Sainsbury's Bank they believe a credit card should offer more than just great rates. That's why they'll be offering you a series of exclusive benefits including a fantastic voucher booklet saving you up to £150, including money off your shopping at Sainsbury's.
In addition to great rates and exclusive offers, you'll also earn 1 Nectar point for every full £2 you spend on your Sainsbury's Bank credit card. Nectar points can turn into almost anything.
Or, if you prefer your rewards in the form of cashback on your spending, that's no problem. Tell them and your account will be credited automatically at the end of each year with cashback.
Benefits of the Sainsbury's Credit Card
- Manage your finances online
- Credit Care available to protect your repayments in the event that you cannot work
- Card Care offering you peace of mind if your cards are lost or stolen
- Cash withdrawals from bank counters and over 800,000 ATM outlets worldwide
Perfect for people earning over £20,000 a year and this credit card offers a great range of benefits. Now you can shop online with complete confidence and peace of mind... thanks to Sainsbury's Bank Secure. Part of the global 'Verified by Visa' programme, this new service ensures that only you can use your Visa card to make purchases on the internet. An excellent card offering the best benefits on the market.
posted by Barbara Gordon at 8:53 AM
Sainsbury's Credit Card
10 Comments:
If you like to keep your bill payments up to date then Sainsbury's Standard Credit Card is a good card to have as you can get your balance and recent transactions on line at any time. This was a particularly brilliant service in my case as some fraudulent transactions occurred on the card and I was able to deal with them straightaway and the matter was resolved fairly quickly.
Sainsbury - one of the nations favourite supermarkets also has a financial services arm which is coming up with some very comepteitive products.
One of these is the Sainsbury Platinum Visa Card. It offers a fantastic intoructory rate of 0% on any purchases made within the first 12 months of account opening. Thats a whole year of interest free shopping! This is one of the longest introductory rates on the market. It doesn't offer 0% balance transfers but there is a lifetime balance transfer rate of 5.9% APR to save those rate switching headaches.
The standard rate is 15.9% APR which is not the lowest standard rate available but you'll have a whole 12 months to think about that while your spenidng on your 0% purchases rate! For every pound spent on the sainbury credit card you'll also get nectar points - the UK's largest loyalty scheme.
Hi Bruce and Barbara,
Just applied for my first credit card, using Barbara's article I plumped for the Sainsbury's one with 10 months 0% interest on purchases. Surprisingly they have said I can have a credit limit of £1100. I say surprisingly as I am a student with very little credit history.
Anyway I wanted to pick all your brains on what I can do with this £1100, am I able to use it to bring my current account back to £0? Or is it only for purchases? Maybe some of you have other ways of getting around this?
I'm intent on not wasting the £1100 and not knowing where it has got to. If there is no way of using the money without spending it then I think I would rather not use it at all.
In the long run I know I can pay the card off before the 10 months are over as I should have a graduate job come September, i'm guaranteed a decent paying job over the summer, and I'm currently waiting on a rather healthy cheque from the Taxman! So in simple terms this card is just a short term fix.
Oh and one quick question, Sainsbury's say that they will send me the agreement to sign within 10 working days and once I've returned that they shall send me my card out. Does anyone have any experience as to how long this process normally takes with Sainsbury's.
Many thanks in advance,
Alan.
Alan, you can only use the card for purchases if you want to use the 0%. If you carry out a balance transfer or withdraw cash you will be charged at a much higher interest rate until you pay off everything that you owe.
The best thing for you to do is make all of your purchases with it (everything from grocery shopping to larger purchases) instead of using cash or another card. Over the 10 months you will then be able to slowly keep hold of the cash you would have otherwise used in your bank account to offset your overdraft.
Thanks Barbara. Suppose if I get cash back at the supermarket or at the bar where I work then that will count as a purchase rather than a cash withdrawal?
Cash back is a cash advance with a credit card, matters are different with a debit card. Avoid getting cash from ATM machines as well. Cash advances attract an instant charge of 2% (£2 min) plus 1.53% per month (around 20% per annum). If you have 0% purchases on your card and then use your card for a cash advance then you will have messed up. In order to pay off the cash advance you will have to pay off all your 0% purchases. Cash advances are very poor value in my view. You also have to find 3% of the outstanding balance each month. If you miss a payment the whole 0% deal is off. Don't risk trashing your credit record. Also in an ideal world you will have savings, earning interest, that equal the balance on your 0% card. This is sometimes termed slow stoozing.
Thanks guys, that'll be my credit card newbie-ness on the cashback front.
Ok, so i have a Sainsbury's credit card, and so I haven't used it for a while, but I may do.
This week I received a letter proposing (more like giving me no choice) that they will close my card in 30 days and that in the interim they have reduced my credit limit to £100.
They state the reasons are to make way for new cardholders and new credit limits.
Are they all like this? I thought that you could keep a card for emergencies.
Many are taking the opportunity to close down dormant customer accounts. It costs them money to keep them open, both for the administration, plastic issue and for the cost of borrowing the funds to back up the credit limit. I'm sure you would not want to be denied an account as the bank had used up all its borrowing power based on customers who were not using their accounts - extreme I know but the principles are the same!
As they say, it can make way for other customers. They are in it to make money (as we are in it to save money!) and don't want a customer base who is not spending.
To me this is reminiscent of about 5 years ago when the building societies closed accounts where there was minimal balance or activity - it's still about profit, and you will get little choice, I'm afraid.
I'd recommend if you want to retain an account with an organisation, use it every so often.
nice blog
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