Sainsbury's Bank launches new credit cards

Sainsbury's Bank is launching two new market leading credit cards; a new Sainsbury's Nectar Credit Card and a new Sainsbury's Cashback Credit Card. The two new additions to the bank's credit card suite allow customers to choose the card that has the benefits and rewards that best suit their needs.

The new Sainsbury's Nectar Credit Card is the bank's most rewarding Nectar-based credit card to date. For the first three months from the account opening, shoppers using their card in-store at Sainsbury's (and swiping their Nectar card at the till) will earn up to five times the number of points normally earned (10 points earned per £1 spent). This is the equivalent of up to 5% back on a customer's shopping at Sainsbury's. Post-introductory period, Sainsbury's shoppers could earn the equivalent of up to 2% back on their shopping (four points earned per £1 spent).

Research commissioned by Sainsbury's Bank reveals that the new Sainsbury's Nectar Credit Card is the only card to offer rewards equivalent to 2% cashback as well as 0% interest on balance transfers and purchases. Indeed, only 12% of cards  on the market currently offer both a 0% introductory period on balance transfers and purchases as well as a reward scheme, showing that the card is one of the best all-round cards available.

The bank has also created a new cashback card. The Sainsbury's Cashback Credit Card offers 5% cashback on purchases made at Sainsbury's for the first three months (up to a maximum of £1,000 spend per month). Post-introductory period, card holders could also receive £5 cashback each month when they spend at least £250 at Sainsbury's and at least £250 at other outlets; this reward is also in place during the introductory period.

Research reveals that the new card is one of only four cards on the market that offer 5% cashback (all of which are for three month introductory deals) and one of only five cashback cards that also offer a 0% introductory deal on balance transfers as well as purchases.

Stuart McKeggie, Head of Sainsbury's Credit Cards said: "Both cards have been created with the Sainsbury's shopper in mind; we are offering our customers choice on how they earn and redeem their rewards. Our research shows that there are very few cards currently available that offer rewards of this value as well as offering competitive introductory periods and we're delighted to add them to our existing product suite."

The two new cards join two other competitive cards offered by Sainsbury's Bank. The Sainsbury's Gold Credit Card offers a range of attractive benefits for consumers when travelling and staying at home, it was the only one of its kind when launched in September 2010. Since its launch in September 2011, the Sainsbury's Low Rate Credit Card has remained market-leading, offering the lowest APR available on the market.

For more information, visit sainsburysbank.co.uk.