Sainsbury credit card 0% shopping offer

Anthony--_4

Looking at the information on the latest Sainsbury card offer of 12 months interest free shopping at Sainsbury I couldn't find anywhere what sequence is used for repayments.

My query to their customer services produced the following; "...we will use all payments you make first to pay off amounts that we do not charge interest on. Then we pay off amounts that we charge interest on, starting with those which we charge interest on at the lowest rate, then those with interest at the next lowest rate and so on up to the highest rate of interest.".

So, be careful. I think it isn't possible to make an informed decision on how to use the card without knowing that.

It still looks like a good deal if you shop in Sainsbury anyway and want to use it for Sainsbury shopping ONLY.

Phantom_Flan_Flinger

Anthony-- wrote: »

It still looks like a good deal if you shop in Sainsbury anyway and want to use it for Sainsbury shopping ONLY.

That's how I see it too.

UK007BullDog

AND it is paid off every month, otherwise the food shop could turn very very expensive!

Anthony--_4

UK007BullDog wrote: »

AND it is paid off every month, otherwise the food shop could turn very very expensive!

How can that be "expensive"? If only using it for Sainsbury shopping then there is a whole year of interest-free use to be had (less minimum monthly payments). Or is there a catch in there?

UK007BullDog

Well if you rack it up and in a years time cannot pay it off you are stuck with a huge shopping bill.

Anthony--_4

Yeah agreed. But in all that time you've been putting the money by in a savings account and earning interest. Poetic justice would make it a Sainsbury savings account

Bokkens

Anthony-- wrote: »

Yeah agreed. But in all that time you've been putting the money by in a savings account and earning interest. Poetic justice would make it a Sainsbury savings account

<LI class=ulist1>0% for the first 12 months on Sainsbury's shopping* <LI class=ulist1>0% for the first 3 months on all other shopping <LI class=ulist1>0% for the first 12 months on balance transfers (+3% fee)<LI class=ulist1>Don't forget it is a ideal stoozing card