Sainsbury's Credit Card - Balance Transfer & Spending?

Currently in the process of shifting some credit card debt onto a new 0% offer. My apartment's service charge is almost £1000 per year and as the management always want a payment in full, I took this out earlier on in the year on a 0% card with Virgin Money to pay the instalments as and when I want/can afford to.

As this is nearly repaid, Instead of dipping into my savings to pay for my car insurance this time round, I plan to do the same and pay it monthly.

Cutting to the chase, I've just found a great 0% offer on a Sainsbury's card, and their introductory Nectar offer on Sainsbury's shops also appeals to me as I tend to do my shopping there anyway. But Im wondering if I was to make a BT there and then spend on it gradually, is that when I'd occur interest?

Comments

  • Dobbibill
    Dobbibill Posts: 4,133
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    If you opted for 0% on purchases then no - if you went for the 0% on BTs then yes as you won't be adhering to the golden rule of paying off in full.
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  • Jlawson118
    Jlawson118 Posts: 1,132
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    Dobbibill wrote: »
    If you opted for 0% on purchases then no - if you went for the 0% on BTs then yes as you won't be adhering to the golden rule of paying off in full.

    So the current offer is 0% on balance transfers for 20 months. Plus 0% on purchases for 3 months. So essentially if I was to BT and purchase and not paid off the full CC balance within 3 months, that's when interest would kick in?
  • Dobbibill
    Dobbibill Posts: 4,133
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    Interest on purchases would kick in after the 3 months - be mindful this is 3 months from account opening not necessarily 3rd statement.

    Any reason you won't be using the card you are clearing to make purchases if you are planning to clear all purchases on the due date anyway? That way you can leave the BT card alone and not get into a potential pickle.
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • PRAISETHESUN
    PRAISETHESUN Posts: 3,681
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    To make life easy, it's generally recommended not to mix BT and purchases on the same card. That said, you need to pay particular attention to your T&Cs and the order in which they will allocate payments for your particular card.

    Generally speaking, providers will allocate payments to statemented balances first (ie. any amount you BT) before unstatemented balances. Of the statemented balances, most providers will allocate payments to the highest interest rate portion first. If your promo rate ended after 3 months, anything under that category of spend would revert to the standard rate and then any payments SHOULD go towards that balance, but it'd be worth checking.
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