Related Credit Card Article

"New credit card launched by supermarket giant"

By Reno | September 9th, 2010 | Credit Cards

Consumers in the UK have a wide range of credit cards to choose from these days, and there are cards that offer different benefits for different consumers based on their needs and preferences. One thing that consumers want is a card that offers them value for money on their borrowing as well as features that fit in with their needs.

Supermarket giant Sainsbury’s has now launched a new credit card offering that could appeal to many consumers who are looking for a card that can be used with ease both at home and whilst abroad. The new card from Sainsbury’s is the Gold credit card, and this comes with a typical APR of 18 percent.

The new card from Sainsbury’s also offers consumers an APR of 9.94 percent on all balance transfers and purchases. There are many benefits that come with this credit card, and this includes a family travel insurance plan, interest free cash withdrawals, and no foreign exchange transaction fees. There are no cash advance fees on the card.

With many people using their credit cards not only to make purchases but to take out cash in the current climate this new credit card from the supermarket giant could prove ideal for many borrowers. Research was recently carried out by Sainsbury’s showing that £153 million a month is taken out from cash point machines by credit card holders. Hundreds of millions more is taken out by those going abroad on holiday.

An official from Sainsbury’s Credit Cards said: “It is excellent for travelling because there are no usage fees and it offers great travel insurance. It’s excellent at home because of its competitive APR and double Nectar point rewards.”

Tags: Credit Cards, Personal finance, Credit Cards, Sainsbury

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