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Credit card claim: Sainsbury's tries to entice customers with new credit cards

Sainsbury's Bank is hoping to entice more customers with its launch of two new credit cards.

Claiming to offer the lowest standard interest rate available for purchases and balance transfers, not to mention a 7.8 per cent APR representative variable, Brits must still be aware of credit charge risks.

While headline grabbing deals are enticing, the same rules should always apply when shopping around for credit.

Nevertheless, the bank is laying down the gauntlet to its competitors as the only provider to offer credit cards with an interest rate under eight per cent APR, combined with generous rewards.

Research from Sainsbury's previously revealed that the average APR on a credit card offering some form or reward or cashback is 17.58 per cent. This is 9.58 percentage points higher than what Sainsbury's Bank is offering.

Andrew Hagger from MoneyComms commented: "The combination of a low interest rate and a generous reward programme will appeal to savvy shoppers who are striving to make every penny count in this tough economic climate."

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801576415-ADNFCR

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