advice needed on Sainsburys 27 month 0%

beemerGS

Apologies if this sounds like a stupid question, .. I'm in the final stage of getting a Sainsbury's Nectar Credit Card with the 27 month 0% period. But, I thought it could be used to make a large purchase and pay it back over 27 months without having to pay any interest.

But when I read the paperwork with the pre-contract credit information, the credit card agreement explanation and the credit card agreement all have exactly the same wording ... "If you used your card to make a purchase of £1200 at the start of the agreement and you repaid that amount by 12 equal monthly payments together with interest charges accrued for each month at the standard interest rate for purchases set out in condition 3.3, the total amount payable would be £1367.00. "

The table in 3.3 describes the interest rate % pa for balance transfers, cheques, cash advances and purchases etc. and describes a Special Promotion Period of 18 months for balance transfers and 27 months for cash purchases.

This seems to suggest that if you borrow money by making a purchase at the start of the agreement there is interest to pay, if you want to spread the repayments.

And advice gratefully received

BeemerGS
:beer:.

grumbler

The key words are "at the standard interest rate".

0% is promotional rate, not standard.
You don't pay any interest for the first 27 months.

beemerGS

thank you , much appreciated.