January 25th 2012
Focus on: Sainsbury’s new low rate credit card
There has been plenty of activity in the balance transfer credit card market recently, but relatively little movement when it comes to cards which offer consistently low standard rates – until now that is.
Low standard rate credit cards are worth considering if you won’t be able to clear your balance during the 0% introductory periods offered by other cards, and don’t want to switch your card again once it ends. You’ll pay interest but not as much as the rates charged on many credit cards.
Sainsbury’s has just thrown down the gauntlet to other providers by launching a new market-leading low rate ‘Transactor’ card with a representative annual percentage rate (APR) of just 6.9%, with no balance transfer fees. Here, we take a look at who the card is suitable for, and whether there are any catches to watch out for…
Sainsbury’s new low rate card, which is only available to customers with a Nectar card, offers a representative APR of 6.9% on new purchases and balance transfers, and importantly does not impose any balance transfer fees.