Sainsbury's Bank sold to Natwest

jackjones01

stclair said:

WillPS said:

More info here: https://www.sainsburysbank.co.uk/transfer-scheme

and also here: https://www.natwest.com/support-centre/sainsburysbank-transfer-scheme.html

Literally everything refers to NatWest, so I think you can rest assured it is going to be NatWest you end up with. Another interesting tidbit on that first link (my bold):

Once your account(s) have moved to NatWest systems, expected towards the end of 2025, it is proposed that:

• You’ll continue to be able to use your existing card, including Apple Pay and Google Pay, and PIN number. If your card expires, or is lost, stolen or damaged before your account(s) have moved on to NatWest systems, you’ll be issued a new Sainsbury’s Bank branded card, after that a new NatWest branded card will be issued to you. 

• There will be no change to:
  • Your credit card limit 
  • Your interest rate(s) and minimum payment requirements 
  • Any 0% offer in place, this will remain until the end of the promotional period
  • How you collect Nectar points
  • Any direct debits you have set up

I wonder how long that arrangement will continue for, and if Natwest will launch Nectar-earning cards of their own.

I received a letter today about the transfer with my updated T&Cs and it makes reference to NatWest Nectar Credit Card 

Yes me too … 

Chris_in_Ashtead

Does anyone have an idea as to which NatWest credit card will be offered to Sainsbury's customers?

If I had a choice I'd pick their Travel Reward credit card, but I don't know whether we'll have a choice or just be given one that they transfer us to.

WillPS

Chris_in_Ashtead said:

Does anyone have an idea as to which NatWest credit card will be offered to Sainsbury's customers?

If I had a choice I'd pick their Travel Reward credit card, but I don't know whether we'll have a choice or just be given one that they transfer us to.

Details are above. It's a "Nectar credit card", which appears to be a new product designed to closely match the old Sainsbury's Bank one. You might be able to ask to switch products, I have done so in the past. Travel Reward card is the only Visa in their lineup, which may be a problem.

jackjones01

WillPS said:

Chris_in_Ashtead said:

Does anyone have an idea as to which NatWest credit card will be offered to Sainsbury's customers?

If I had a choice I'd pick their Travel Reward credit card, but I don't know whether we'll have a choice or just be given one that they transfer us to.

Details are above. It's a "Nectar credit card", which appears to be a new product designed to closely match the old Sainsbury's Bank one. You might be able to ask to switch products, I have done so in the past. Travel Reward card is the only Visa in their lineup, which may be a problem.

I wonder if the NatWest card design will incorporate the nectar logo 

northernstar007

this has the worst rewards going
i also have the amex nectar card paying 2pts for each £1 
only good thing with the sainsbury card i have a 1.9% promotion offer for any transfers

Chris_in_Ashtead

northernstar007 said:

only good thing with the sainsbury card i have a 1.9% promotion offer for any transfers

That was an amazingly good offer. No other credit card came even close. I took a couple of thousand Pounds on it.

I'm not sure why they did it. Maybe to get borrowing up in advance of the NatWest takeover, although I'm not sure what that would have affected.

WillPS

Chris_in_Ashtead said:

northernstar007 said:

only good thing with the sainsbury card i have a 1.9% promotion offer for any transfers

That was an amazingly good offer. No other credit card came even close. I took a couple of thousand Pounds on it.

I'm not sure why they did it. Maybe to get borrowing up in advance of the NatWest takeover, although I'm not sure what that would have affected.

Presumably it gave them surity they'd hit some KPI threshold agreed as part of the takeover.

Similar things happened at Virgin Money when they were preparing to be taken over, double digit interest on deposits.

northernstar007

Chris_in_Ashtead said:

northernstar007 said:

only good thing with the sainsbury card i have a 1.9% promotion offer for any transfers

That was an amazingly good offer. No other credit card came even close. I took a couple of thousand Pounds on it.

I'm not sure why they did it. Maybe to get borrowing up in advance of the NatWest takeover, although I'm not sure what that would have affected.

i do currently have a £2800 balance on another card (my only debt), 0% ends in dec, i hope the current offer 1.9% is still on offer in dec
i do also have other cards offering me transfers 2.9% and also have the funds to pay this debt off but its making money in my savings account 

spinningsheep

I have a £1200 balance on my Sainsbury's card that's up in Feb, once this is paid off, do Natwest offer to "move" to a different card in their portfolio eg a travel reward one? 

Nasqueron

You'd do better asking NatWest then reporting back as I doubt that there is anyone on here who a) had a Sainsbury's card and b) already tried to switch it to a NatWest branded card