Sainsbury's Bank sold to Natwest

WillPS

https://www.about.sainsburys.co.uk/news/latest-news/2024/20-06-2024-sale-of-core-banking-business-to-natwest-group

Unlike Barclays purchase of Tesco Bank, it doesn't seem this deal includes ongoing usage of the Sainsbury's name, so Sainsbury's Credit Card customers will become Natwest (or I suppose maybe RBS or Ulster Bank) customers.

Gandalf644

WillPS said:

Unlike Barclays purchase of Natwest,................

Barclays bought Natwest????

WillPS

Gandalf644 said:

WillPS said:

Unlike Barclays purchase of Natwest,................

Barclays bought Natwest????

Corrected, thank you!

km1500

Sainsburys paid NW to take the bank off their hands

furryday23

Hmm, this is annoying. I collect quite a few nectar points with my shopping on their credit card! I also had my Natwest account closed about 8 years ago! Not sure what this will mean for me! 

WillPS

furryday23 said:

Hmm, this is annoying. I collect quite a few nectar points with my shopping on their credit card! I also had my Natwest account closed about 8 years ago! Not sure what this will mean for me! 

You'd collect a lot more on a Nectar Amex...

northernstar007

ive also got both nectar amex card and sainsburys card, i try to get everything on the amex card which can be linked to paypal inc council tax also now pay my octopus energy payments and esso fuel on paypal (use the esso app you get extra bonus points most months), and get a good rate of points 2 points per £1 so it does amout up
but for the sainsburys card i might have spent max £50 in the last 12 months its simply not worth it £100=20 nectar points=10p, its always on zero balance i have a good limit 5k so just using it to keep my credit file looking good
i can can see me closing it soon i have no use for it at all

WillPS

northernstar007 said:

ive also got both nectar amex card and sainsburys card, i try to get everything on the amex card which can be linked to paypal inc council tax also now pay my octopus energy payments and esso fuel on paypal (use the esso app you get extra bonus points most months), and get a good rate of points 2 points per £1 so it does amout up
but for the sainsburys card i might have spent max £50 in the last 12 months its simply not worth it £100=20 nectar points=10p, its always on zero balance i have a good limit 5k so just using it to keep my credit file looking good
i can can see me closing it soon i have no use for it at all

If you're looking for a Mastercard backup route to earning Nectar, then the Barclaycard (free) Avios card is the best bet. 1 Avios per £ spent, no annual fee. Can set BA Exec Club to auto-convert at 1 Avios = 1 Nectar point.

Trouble is, it's only 0.5% (effectively) since BA nerfed the rate recently. Not terrible, but hard to recommend when Chase's 1% debit card cashback and Santander's Edge Credit Card 1%/2% in first year with £3/month fee are available.

jackjones01

It looks like they’ve stopped accepting credit card applications: 

https://www.sainsburysbank.co.uk/credit-cards/support