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Sainsbury’s credit cards launch boosts finance unit

J SAINSBURY has today launched two new credit cards in an extension of its personal finance services.

The first card, the Sainsbury’s Nectar Credit Card, offers users an APR of 12.9 per cent on purchases and balance transfers, and double Nectar points on their shopping, and in petrol filling stations for two years.

Meanwhile the Sainsbury’s Credit Card offers 0 per cent APR for the first 12 months on purchases and also on balance transfers.

The typical APR of 15.9 per cent on both purchases and balance transfers, according to the supermarket chain.

Customers require a Nectar card to apply for the new products. Stuart McKeggie, head of Sainsbury’s credit cards said: “The credit card market has seen interest rates rise steadily

“Our strategy is very much focused around encouraging more Sainsbury’s shoppers to take out our financial services products.”