Sainsbury Bank offers two card options

Two new credit cards have been introduced by Sainsbury Bank. These new cards not only provide the feature of attractive interest rates but also a reward scheme which makes them distinct from others. The cards on offer have the cash back option and another option in which every purchase gives the card holder Nectar points to be redeemed later on. APR in both cards is just 7.8 % for balance transfers and purchases.

In the case of the cash back credit card, there is an introductory period of one month during which card holder gets a 5 percent cash back amount with an upper limit of £1,000. The purchases however have to be at Sainsbury stores only. At the end of three months, the cash back amount is £5 for every £500 worth of shopping done in a month. For the cash back offer one must also ensure that purchases worth £250 have been transacted at Sainsbury stores either retail or online.

In case of the second card where one gains points, the three month introductory offer gives the card holder a five times normal Nectar points for every purchase at Sainsbury shops. Card holders get four points after the introductory offer period lapses. The offer on Nectar points is also valid in case of customers using the card at Sainsbury petrol stations.

Sainsbury shoppers would benefit the most from both these cards so far as the reward point or cash back offers go considering other cards offer cash back or reward points charging more than 17 percent as the APR. The catch that one needs to be aware of is that the cash back of Nectar points would be lost if one does not clear ones outstanding credit in total every month.

For those who are looking for cards against which they can borrow at low interest rates, then these two cards do seem perfect. But there may be other cards available with no or very low cash back or point rewards schemes and lower interest rates than 7.8 percent on the debts.

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