From November 1, credit card holders will no longer earn two points for each £1 spent at the chain’s brands, but rather will get just one point for every £2. This applies to purchases across the supermarket’s brand, including shopping in Sainsbury’s, Argos, Habitat and Tu clothing.
Supermarket bosses said they would be writing to customers to make them aware of the policy change.
David Beard, editor-in-chief of Lendingexpert.co.uk, said changing the popular credit card benefit would be a major blow during the cost of living crisis.
He said: “Loyal Sainsbury’s Bank customers won’t like this change. To revise one of the credit card’s most loved benefits so dramatically in the middle of a cost-of-living crisis could be a harmful move for the bank.
“With so many other credit cards to choose from, I suspect customers might vote with their feet and go elsewhere.
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“We regularly review our offers to ensure we are making the biggest difference to the most customers and are writing to customers to explain that our Sainsbury’s Bank Credit Card points promotion is changing, for new and existing customers.
“While we understand this offer is popular with card holders, we are certain that all customers will continue to find great value and to save money with Sainsbury’s through our low priced food, competitive financial services and affordable Argos and Habitat brands.”
In efforts to tackle food waste, Sainsbury’s is to remove best before dates from 276 of its own brand products, including some fresh fruit and vegetables.
The chain has already removed the best before dates from over 1,500 lines, including bananas, apples, pineapples, pumpkins and indoor plants.
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