Sainsbury’s offers 0% APR on purchases for 12 months

Sainsbury’s Bank today announces that it has increased its offer of 0% APR on purchases on its Standard and Platinum credit cards from 10 months to 12 months.

With ‘long-term’ interest free periods for purchases on the decline, the Bank is one of only four providers to offer this.

Donald MacLeod, Head of Cards at Sainsbury’s Bank said: “We are determined to offer customers one of the most attractive credit cards available and today’s 12 month interest free announcement is an example of our commitment to this. We are the only provider to combine a low life-time balance rate with no fee and a lengthy 0% offer."

Sainsbury's Bank's research into credit cards offering interest free periods on purchases found:

The number of credit cards offering 0% on introductory purchases has increased by 93% over the past three years from 75 to 145.

Cards offering ‘long-term’ interest free periods of 10 months or longer has fallen by 36% from 11 in August 2004, to only seven in August 2007.

During this period, the number of cards offering this for 12 months or longer fell from 11 to five.

In addition to providing one of the longest 0% periods currently available, the Sainsbury’s Bank Platinum card also offers a low lifetime rate of 5.94% for balances transferred within the first six months and will not charge a balance transfer fee. Cardholders can also manage their accounts online with their convenient 24/7 online payment service.