Slightly OT: Earn 10% interest on your Nectar balance with Nectar Hive

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• Boi says:

  16 Nov16 November 06:37

  very interesting…I will take a look. mine usually stay there for a long time as i forget to redeem them. I don’t like sainsburys but unfortunately it is within walking distance from my house!

• jonboy says:

  16 Nov16 November 06:40

  I’ve had my nectar points for years! never seem to earn enough to even think about them

• john says:

  16 Nov16 November 07:09

  Short term thinking.

  It may slow down the rate at which people burn them but at what cost to the future? People most likely to use this scheme will be sophisticated and motivated. At some point they will bring a now increased amount of points to bare.

  However, by then whomever sold this idea to management has their bonus and their promotion.

  The only sensible business remedy to this is a devaluation in the future.

  But thanks to points I am writing this from the Conrad Maldives having arrived part way on Qatar’s excellent A380. I should therefore try to put my cynicism aside and continue to plan how best to ‘burn ’em while you got ’em’.

  • Lady London says:

    16 Nov16 November 15:38

    “Short term thinking. It may slow down the rate at which people burn them but at what cost to the future? People most likely to use this scheme will be sophisticated and motivated. At some point they will bring a now increased amount of points to bare. However, by then whomever sold this idea to management has their bonus and their promotion. The only sensible business remedy to this is a devaluation in the future.”

    Absolutely brilliiant, cogent and bang-on sum-up, John 🙂

• James67 says:

  16 Nov16 November 07:11

  Doesn’t seem like an instant savings account to me. If the rate of nectar accrual by the major partner can be halved at a stroke then who’s to say future devaluation in a nectar points worth will not outstrip the 10% interest. That people don’t hoard nectar points is probably very sensible.

• Clive J says:

  16 Nov16 November 07:14

  I have around 7.5k Nectar points and may as well put them into this Hive, thanks for highlighting it.

  I assume it’s not possible to buy Nectar points or the tax authorities might view this as a quasi ISA.

• Stu R says:

  16 Nov16 November 07:41

  Whenever I shop in Sainsburys I get collared by the hard sell brigade trying to get me to take out a Nectar credit card with the promise of circa £120 of Nectar points per annum, enough to pay for Xmas dinner. Even when I tell them I’ve just booked two first class returns to Tokyo with BA worth £8,000 using my BA Amex, they still try to sell me their card …. what part of NO don’t they understand?

  On another note, I was recently notified that Sainsburys will only award 1 point per pound now (0.5p) rather than 2 (1p) and also the green Nectar points for bag re-use is discontinued. Nectar really isn’t worth the time or effort!

• Charlie says:

  16 Nov16 November 08:03

  There is a promotion that doubles the value of Nectar points when redeemed for certains types of things in store at a Sainsburys. There is one next week, and probably is the best use of Nectar, although the maximum that can be converted is £20, giving £40 spending power.

• Alvin says:

  16 Nov16 November 08:22

  “When you want to spend your points, you can transfer them instantly back into your main account” <— not exactly, it says in the T&C that while transferring into the Hive account is instant, transferring back into the "current account" may take 48 hours…

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