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Credit Cards - Sainsbury's announces new 0% offer - 19/02/2008

Sainsbury's has announced that it will extend its zero per cent interest rate on its credit card to 12 months.

The card's old 10 month interest-free period for new customers was replaced yesterday - with immediate effect.

Research from the credit card provider has shown that 24 per cent of UK credit cards offer zero per cent interest for balance transfers along with a zero per cent period for purchases.

The Sainsbury's card offers zero per cent on purchases for people buying within their stores - although customers are warned that purchases elsewhere are subject to interest on the card.

Rewards linked to the supermarket's Nectar scheme are also offered on the credit cards.

Donald MacLeod at Sainsbury's commented: "We believe extending the interest-free period on balance transfers as well as offering great rewards and zero per cent on Sainsbury's purchases will make our card even more appealing.

"Only 21 per cent of cards including the Sainsbury’s Card, offers zero per cent on balance transfers for 12 months or more, an interest free period on purchases and a reward scheme."

Longer zero per cent balance transfer periods on credit cards are currently offered by Virgin (15 months) and Tesco (13 months).

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