Sainsbury’s credit card increases 0% introductory period

Sainsbury's Finance has increased the 0% introductory period on purchases on its credit card from three months to ten months and has reduced its typical APR from 16.9% to 15.9%, going against the current trend in the credit card market.

Research released in July revealed that credit card firms have slashed the number of zero per cent purchase deals by a fifth in the past year, and have increased rates across the industry to an all-time high of 18%, after an increase in 0.5% in the previous 12 month period.

Stuart McKeggie, Head of Sainsbury's Credit Cards said: "By increasing the 0% period on our card and decreasing the typical APR we are bucking the trend and hopefully offering borrowers a bit of respite in what is still a tough economic climate for many people.

"However, when choosing a credit card we would urge people to consider the rewards on offer as well as the rate and introductory deals. People should shop around for a card that offers a sustainable reward that is easy to redeem and suits their spending habits. A family spending £100 every week at Sainsbury's on our card would receive £104 worth of Nectar points each year on this expenditure alone."

The Sainsbury's credit card offers Nectar points equivalent to 2% cash-back on Sainsbury's purchases. There is no limit to the amount of points customers can earn and these can be easily redeemed at a Sainsbury's checkout or any other company that is part of the Nectar scheme. Card holders can also receive Nectar points on non Sainsbury's purchases as well. Of those cards offering a cash-back deal to new customers, on the first £3,000 the average non-introductory rate is 0.45% on universal spend, and no cards offer over 1% on universal spend.

To find out more about the Sainsbury's credit card, visit sainsburys.co.uk.