Confused.com - Sainsbury’s Gold Credit Card

Chris Griffiths, head of Credit Cards at Confused.com, said: "It's good news for consumers who are planning to go away that another provider has launched a competitive card geared for travelling.  With no foreign exchange fees on purchases and no charge for cash withdrawals abroad, the new Sainsbury's Gold Credit Card offers a great way for customers travelling abroad this autumn to handle their foreign spending.

"The card has a low rate of 9.94% p.a. variable on purchases and balance transfers, and no balance transfer fees, and has the added bonus of annual travel insurance for the family included as a card feature.  Users can also earn double Nectar points on Sainsbury's shopping, and still get fee free cash withdrawals in the UK - features that may encourage card holders to use the card while at home as well.

"The card does have a £5 monthly fee, equivalent to £60 a year, so the benefits come at a price, and customers should bear that in mind when considering how useful travel insurance or Nectar points will be for them specifically.  Users should also remember that while a cash advance is fee free, it is only interest free if you pay your balance in full and on time each month, and that any interest that is charged is at a higher rate.

"Although Nationwide recently withdrew the card use abroad benefits on its FlexAccount current account, the Santander Zero card, recently launched Halifax Clarity Card and this new offering from Sainsbury's demonstrates the ongoing competitiveness of this market.  Customers looking for a new credit card should always shop around, weighing up features and benefits to the cost of the product, to find the credit card that best meets their needs."