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Tesco Bank Credit Cards

Tesco Bank offers a number of credit cards with features such as 0% purchase, balance transfer and money transfer capability. All of Tesco's credit cards let you earn Clubcard loyalty points on eligible purchases, but you won't earn points on balance or money transfers.

Choosing a card for you will depend on your individual needs and financial situation. There may be a better card with better features that we do not mention here.

Tesco Bank Credit Cards

In analyzing Tesco Bank's offerings, we considered fees, promotional periods, rates and other features.

Purchases: Tesco Bank Purchases Card (0% for 17, 23 or 29 Months)

The Tesco Bank Purchases card charges 0% interest payments on upcoming purchases. Depending on your individual situation, you will receive a 17, 23 or 29-month 0% promotional period. Once this period ends (either because it naturally comes to an end or because you miss a monthly payment or exceed your credit limit at any point), remaining balances are charged at your normal APR (18.9% variable).

You will continue to earn Tesco Clubcard points even during the promotional period, so long as you stay under your credit limit and pay at least the monthly minimum payment on time. These additional Clubcard points yield rewards rates around 0.25% on Tesco spend and 0.125% outside Tesco (in addition to points you normally earn through the Tesco loyalty program.)

Summary

  • 0% on purchases for 17, 23 or 29 months
  • 0% on balance transfers for 3 months
  • 2.9% balance transfer fee
  • Earn 1 Clubcard point for every £4 spent at Tesco
  • Earn 1 Clubcard point for every £8 spend elsewhere
  • No annual fee
  • 18.9% variable APR

Balance Transfers: Tesco 0% Balance Transfer Fee Card (24 Months)

The Tesco no-fee balance transfer offers a 24-month 0% interest promotional period on initial balance transfers. If you use the card for new spend, there is a one-month 0% interest period on purchases but after this you will be charged interest on new balances at a rate of 18.9% to 23.9%. While you won't earn Tesco Clubcard points on your balance transfers, you can earn them on purchases: earn 1 Clubcard point for every £4 spent (£4 minimum) in Tesco and 1 point for every £8 spent (£8 minimum) outside Tesco. These points are in addition to points you'd earn through the Clubcard loyalty card.

Summary

  • No balance transfer fee (0%)
  • 0% interest on balance transfers for 22 months (or 18 or 14 months)
  • 3.94% money transfer fee
  • 0% interest on money transfers for 12 months
  • Offers good for transfers made within first 90 days
  • Earn 1 Clubcard point for every £4 spent at Tesco
  • Earn 1 Clubcard point for every £8 spend elsewhere
  • No Clubcard points on balance transfers
  • No annual fee
  • 18.9% variable APR

Balance Transfers: Tesco Balance Transfer Card (36 months)

Tesco Bank's 36-month balance transfer offer provides up to 36 months of no interest on transferred balances. Balances transferred during the initial 90-day period will pay a fee of 2.69%. Some applicants will receive a shorter promotional period of 30 or 24 months. Like other Tesco Bank cards, you won't earn Tesco Clubcard points for balance transfers but you will earn points on new purchases. Expect rewards rates around 0.25% on Tesco spend and 0.125% outside of Tesco.

Summary

  • 2.69% balance transfer fee
  • 0% interest on balance transfers for 36 months (or 30 or 24 months)
  • 3.94% money transfer fee
  • 0% interest on money transfers for 36 months (or 30 or 24 months)
  • Offer good for balances transferred within first 90 days
  • Earn 1 Clubcard point for every £4 spent at Tesco
  • Earn 1 Clubcard point for every £8 spend elsewhere
  • No Clubcard points on balance transfers
  • No annual fee
  • 18.9% variable APR

Low APR: Tesco Low APR Credit Card

The Tesco Low APR Credit Card charges an ongoing rate of 5.9% APR (variable), a lower-than-average interest rate versus most credit cards. In the following chart, you can see the interest rates over time on the Low APR card and the Tesco Purchases card (assuming the full 28-month promotional period.) When deciding between this Low APR card and a purchases card, consider how likely you are to miss a payment—not paying your minimum monthly payment on time in any month brings a 0% promotional period to a premature end.

chart comparing the interest rates on the Tesco Low APR Credit Card and the Tesco Purchases Card
APR on Tesco Low APR Card and Tesco Purchases Card

Summary

  • 0% on purchases for one month
  • Earn 1 Clubcard point for every £4 spent at Tesco
  • Earn 1 Clubcard point for every £8 spend elsewhere
  • No annual fee
  • 5.9% APR (variable, up to 11.9%)

Free Travel Insurance and Higher Rewards Rate: Tesco Low APR Credit Card

The Tesco Premium Credit Card costs users £150 per year. For this fee, cardholders get a higher rewards rate (earning more Clubcard points for every £ spent), the possibility of earning a 5,000 Clubcard point bonus per year (subject to £5,000 of annual Tesco spend) and access to free Tesco travel insurance.

Summary

  • £150 annual fee
  • Earn 1 extra Clubcard point for every £1 spent at Tesco
  • Earn 1 extra Clubcard point for every £4 spend elsewhere
  • Annual Bonus: Earn 5,000 Clubcard points when you spend £5,000 at Tesco a year (includes in store, online and Tesco fuel)
  • Travel insurance for primary cardholders under the age of 70 and their immediate family; covers trips up to 31 days and 17 days of winter sports
  • 19.9% APR (variable)

Summary of Tesco Cards

For...CardQuick Overview
No Interest on PurchasesTesco Bank Purchases Card0% on purchases for up to 29 months
Cheapest Balance TransferTesco 0% Balance Transfer Fee Card0% on balance transfers for up to 24 months. 0% fee.
Longer to Pay Existing DebtTesco Balance Transfer Card0% on balance transfers for up to 36 months. 2.69% fee.
Lower Interest RateTesco Low APR Credit Card5.9% APR (variable)
Free Travel Insurance & Higher Rewards RateTesco Premium Credit Card18.9% APR (variable)

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