Sainsbury’s launches new rewarding credit card
Sainsbury’s has launched a new credit card which will reward customers every time they shop. The new card, which also offers an introductory rate of 0% APR on purchases and balance transfers, will provide Nectar points equivalent to 2% cash-back on Sainsbury’s purchases. Points can be earned against purchases in store including clothing, electrical appliances and groceries and also online at Sainsbury's To You and in Sainsbury’s petrol filling stations.
Donald MacLeod, Head of Cards, Sainsbury’s said: “Our new card is designed with the Sainsbury’s shopper in mind and will reward them for their loyalty. Sainsbury's offers much more than groceries and our card will reward them every time they shop. Less than half of all cards on the market reward customers and we're in a tiny minority to offer up to 2% cash back equivalent."
Analysis of industry data reveals that the average household spends around £2,605 a year at large supermarket chains. If this spend was all placed on the new Sainsbury's credit card, and was used in conjunction with a Nectar card it would equate to well over 10,000 Nectar points, around £52 cash back or Nectar treats such as an iPod travel docking station, a Bosch drill, Best Western Hotel deals or Blockbuster movie rental twice a month."
Someone spending the equivalent of £100 a week on Sainsbury’s purchases using the new card would receive Nectar points worth £104 at the end of the year for these purchases alone. The card also offers Nectar points equivalent to 0.1% cash back on non-Sainsbury’s related purchases, a reward that can be at least doubled if purchases are made with a Nectar partner.
About the new Sainsbury's credit card:
Rewards:
4 Nectar points awarded for every £1 spent on the card at Sainsbury’s - equivalent to 2% cash-back
2 points for every £10 spent elsewhere on the card - equivalent to 0.1% cash back
There is no limit to the amount of points customers can earn
Points can be redeemed against thousands of Nectar offers by simply visiting www.nectar.com
A regular booklet offering discounts worth around £60 p.a on a range of products available at Sainsbury’s stores
Regular exclusive wine offers
Features:
0% APR for 12 months on Sainsbury’s purchases
0% APR for three months on all non-Sainsbury’s purchases
0% APR for 10 months on balance transfers, subject to a 3% fee
A standard APR of 15.9%
No annual fee
Fraud protection at home, abroad and online
Convenient online servicing
New research from Sainsbury’s Bank reveals that only 41% of credit cards offer some form of financial reward for using them, but 22% of these limit the value of this.
In total, the research found that there are 17 cards offering a straightforward cash back scheme, but only four of them offer a rate of 1.01% or more on the amount spent on the card after the expiry of any introductory offer. Furthermore, the research found that only 43% of credit cards offer a financial reward to customers and also a 0% introductory offer on purchases and balance transfers.
As well as offering attractive features and benefits, Sainsbury’s credit cardholders can also manage their accounts online with their convenient 24/7 online payment service.
To find out more about the Sainsbury’s credit card, visit sainsburys.co.uk.