Sainsbury’s Bank has three different Nectar-earning MasterCard cards. Most of the time, we don’t think much of them here at Shopper Points when looked at purely from a points earning perspective.
One version offers a low rate on balance transfers, one version has a low interest rate and the other has a bonus deal on new purchases.
All three versions of the card earn Nectar points when you spend. However, as you can read on this page of Shopper Points the Nectar points earning rate is not great. You earn just 1 Nectar point for every £5 you spend. Since every transaction is being rounded down to the nearest £5, you will earn no points at all on purchases of £4.99 or less even though you are spending money. This is very poor indeed.
At least there is now a sign up bonus of 5000 Nectar points. This comes with a catch, however, as I will explain below.
As there is no annual fee, it might be worth taking another look at the credit cards.
Here are the three options:
- The balance transfer credit card gives you up to 40 months 0% interest – but after that period the APR is 18.9% variable
- The purchase credit card offers up to 28 months 0% interest – APR is also 18.9% variable afterwards
- The low rate credit card offers an APR of 5.9% variable
In order to qualify for the 5000 Nectar points you need to be a new customer and MUST spend £800 within the first three month. Here is the catch – the £800 must be spent in Sainsbury’s stores or petrol stations. General spend elsewhere does not count.
That means you will HAVE to use your card for a while and cannot just take it out for the points sake and cut it in pieces to prevent yourself from using it. You can put it away in a drawer, or cancel it, once you’ve spent the £800 of course.
The offer of 5,000 bonus Nectar points now runs until 29th December 2016.
Depending on what credit card you are looking for you might want to look at the American Express Nectar card Rob wrote about which is a lot better, both in terms of bonus and Nectar earning rate. This card is only free for the first year but, of course, there is no requirement to keep it after the first year either. The sign up bonus on the American Express Nectar credit card is an attractive 20,000 Nectar points and the APR during the first free year is 19.9% variable.Want to earn more Clubcard or Nectar points? Click here to visit the Shopper Points home page for the latest news and offers. Come back every day for new deals or join our email list.
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