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Sainsburys launches two credit cards

Wed, 07 Apr 2010

Sainsbury's has introduced two new credit cards targeted at shoppers looking for rewards.

The Sainsbury's Nectar Credit Card offers 12.9 per cent APR on purchases and balance transfers while double Nectar points are also given on shopping and petrol for two years.

Meanwhile the Sainsburys Credit Card offers zero per cent APR for the first 12 months on purchases and balance transfers, while the typical APR is 15.9 per cent.

Stuart McKeggie, head of Sainsbury's Credit Cards, said that the company was aiming to provide customers with competittve cards at a time when interest rates from many other providers are higher than they were a couple of years ago.

He added: "Our strategy is very much focused around encouraging more Sainsbury's shoppers to take out our financial services products, and to do this we need to ensure that we continue to offer them exclusive deals that are extremely attractive.

"We are confident our new credit cards will be well received by Sainsbury's shoppers."

A recent survey found that the average British person has a credit card debt of £1,747 through spending on items such as clothes, shoes, gadgets and furnishings.

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