Sainsbury's credit card: 0% on balance transfers for 10 months

Tuesday, 27 January 2009 06:04

Sainsbury's is offering a new credit card with zero per cent interest after new research which shows that many people expect to struggle to pay off Christmas debt.

The new Sainsbury's credit card offers 0 per cent APR on purchases and balance transfers for the first ten months, as well as other potential benefits.

New research from Sainsbury's Finance shows that while 56 per cent of people think they can clear Christmas expenditure within a month, 177,000 believe it could take over a year.

A further 4.9 million people believe they will still be paying for their seasonal spending after two to three months, which could explain why Sainsbury's Credit Cards receive more applications in January than any other month.

Donald MacLeod, head of cards at Sainsbury's, said: "A year is a particularly long time to still be paying for festive debt so if you think it's going to take you a while its worth taking stock and coming up with a plan for managing it."

In addition, customers using the new credit card in tandem with a Nectar card can gain 4 Nectar points for every £1 spent in Sainsbury's - giving nectar points equivalent to 2 per cent cashback on purchases in the store.

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