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1% or 2.25% minimum payments with sainsburys 0%16months purchases c.c?
moneysavinggirl40
Posts: 449 Forumite
in Credit cards
Does anyone understand the terms and condition for minimum payment on Sainsburys 0% Nectar purchase card, i would copy text but struggling so i have copied link
http://www.sainsburysbank.co.uk/library/default/pdf/cca_sainsburys-purchase_cc_april_2014.pdf
Hope it works..
Can you understand/explain the 1% and the 2.25%?
http://www.sainsburysbank.co.uk/library/default/pdf/cca_sainsburys-purchase_cc_april_2014.pdf
Hope it works..
Can you understand/explain the 1% and the 2.25%?
0
Comments
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If its 0% interest then it will be 2.25% of the balance.
The 1% only comes in to factor if 1% of balance plus interest/charges were higher than 2.25%, (e.g. if your APR was 20% that would be interest equivalent to 1.5% plus the 1% of balance i.e. 2.5%)A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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