Credit Card Help (Sainsbury's)

Popeye84

Morning all,

I have recently had a letter from Sainsbury's sent out to me with information about their credit card and 0% balance transfers for the next 12 months.

I currently have £400 on a Nationwide Gold Card which I am trying to clear and not using anymore. I can afford to pay between £50 - £100 of a month at the moment but I also end up being around £400 - £500 overdrawn each month as well.

I was wondering if it would be a good idea to balance transfer to Sainsbury's and if it is possible to transfer the overdraft onto it as well?

Is this an easy proccess?

Any information would be gratefully received.

Thanks

ironlady2022

Yes you can balance transfer from Nationwide to Sainsburys, you need the following information to pay
-16 digit ref no on nationwide card
-sort code (generic)
-account number (generic)

The latter 2 should be able to be found on the back of your statement. As with your overdraft, you need to ask Sainsburys if they offer a 'super balance transfer' - not all credit cards do, if they do, they will charge you a higher fee 3-4% and put the amount in your current account / designated account. The difference being a super balance transfer gives you physical cash in your account and you can do whatever you want with it.

Popeye84

Thanks for you help.

I havent had to balance transfer before so will look into the details. I know it isnt a massive amount to transfer but will make my life a little bit easier.