Sainsbury’s Bank to Offer Two New Credit Cards to Consumers
Stock Chart for J Sainsbury PLC (SBRY)
Sainsbury’s Bank Plc will offer two new credit cards beginning Sept. 11, doubling the number of cards it provides, the company said in a press release today.
The Sainsbury’s Nectar Credit Card will allow customers to receive five times the amount of loyalty points they would normally receive from transactions at the store. The other card, the Sainsbury’s Cashback Credit Card, will offer 5 percent cash back on purchases made in the store for the first three months.
“With around 25 percent of all retail credit card transactions taking place in supermarkets, now is a very exciting time to launch a new credit card proposition,” said Hannah Bernard, interim chief executive officer of Sainsbury’s Bank.
J Sainsbury Plc (SBRY), the U.K.’s third-largest grocery chain, was the first major British supermarket to open a bank when it created Sainsbury’s Bank in February 1997.
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