Tesco Bank Clubcard Plus Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 19.94% (variable) p.a. with a fee of £7.99 per month, your representative rate is 37.7% APR (variable).
- 0% interest on purchases
- 24 months
- Foreign transaction charge
- 0%
- Interest-free each billing period
- Up to 56 days
Our verdict
If you're a Clubcard Plus subscriber, this card can offer you fee-free spending overseas, 24 months of 0% interest on purchases and Clubcard Points on all of your day-to-day spending.
For those who haven't heard of it, Clubcard Plus is Tesco's equivalent of Amazon Prime. You pay a monthly fee and, if you're a regular enough customer, it could save you money.
You need to be a Clubcard Plus subscriber to apply for this card. Provided that's you, this card has an impressive amount to offer. Its most significant benefit is perhaps the fee-free non-sterling transactions, which most cards would charge around a 3% commission for. Next up is 24 months of 0% interest on purchases. Put these two benefits together and you've got a great way to spread out the cost of a large expenditure like, say, a holiday. It's also a sensible credit card to take with you on holiday.
Another significant perk is the opportunity to earn Clubcard Points on all your spending. You'll get 1.25 points per £1 spent in store and 1 point per £8 spent elsewhere.
As you can probably tell, this card is really one for the existing Tesco devotees. On its own, it probably doesn't offer enough to be able to justify taking on the £7.99 monthly cost of Clubcard Plus. But if you're already in the Clubcard Plus ecosystem, the card offers hard-to-beat versatility and, if used correctly, it could cost you nothing to keep. In fact, it's worth noting that the card's advertised representative APR looks high (potentially high enough to put some people off), but that's actually because it factors in the cost of your monthly Clubcard Plus subscription fee.
Similarly, if you always go to Tesco for your weekly shop and you already stand to benefit from the perks that the Clubcard Plus programme has to offer, then this card could well be good enough to make your mind up.
Pros
- Customers report excellent customer service when dealing with Tesco Bank
- Two years to spread the cost of purchases
- Avoid currency conversion charges when spending abroad
- Earn Clubcard points on day-to-day spending
Cons
- £7.99 monthly account fee
- Relatively high balance transfer fee
- Relatively high money transfer fee
- You may be offered an opening credit limit as low as £100
Details
Product Overview
| Issuer | Tesco Bank |
| Network | Mastercard |
| Representative APR | 37.7% |
| Annual/monthly fees | £7.99 per month |
| Balance transfers | 21.81% |
| Balance transfer fee | 3.99% |
| Purchases | 0% for 24 months reverting to 19.94% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 21.81% |
| Cash advances | 24.94% |
| Minimum credit limit | £100 |
| Maximum credit limit | Subject to status |
| Additional cards available | 1 |
| Incentive | 5 points per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco. Must have available credit to earn points. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points. |
| Potential costs | 4.2 ★★★★★ |
| Doing its job | 5.0 ★★★★★ |
| Extras | 3.7 ★★★★★ |
| Overall Finder Score | 4.6 ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £25 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance plus any arrears; or any amount owed over credit limit plus over limit fees; or double the total interest and defualt fees plus £5 and any arrears. |
| Annual/monthly fees | £7.99 per month |
| Balance transfer fee | 3.99% |
| Money transfer fee | 3.99% |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 3.99% (min. £3) |
| Late payment fee | £12 |
| Replacement card fee | £0 |
| Duplicate statement fee | £0 |
| Exceeding limit fee | £0 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 18 |
| Minimum income | £5,000 |
| Residency | UK residents |
| Availability | Available to new customers |
The Tesco Bank Clubcard Plus Credit Card is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
How does it compare?
Tesco Bank’s card
Other cards offering fee-free spending abroad
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
How to apply for the Clubcard Plus Credit Card
You can apply for this card online in a matter of minutes. First, you'll need to log into your Clubcard Plus account. You'll then be prompted to provide three years of address history and details about your income and outgoings. You'll usually get an instant decision on your application and, if successful, will receive the physical card within two weeks.
Repayment options
You can make manual repayments through Tesco Bank's app by logging in to your online banking or over the phone (0345 300 4278). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | Fixed amount | Fixed percentage | Full amount |
|---|---|---|---|
What happens if I unsubscribe from Clubcard Plus?
If you cancel your Clubcard Plus subscription, your card will still remain active for at least 12 months. Ultimately, you’ll need to close the account, but you have a decent buffer period to arrange an alternative or to clear your balance.
Frequently asked questions
What credit limit will I get with the Tesco Bank Clubcard Plus Credit Card?
If Tesco Bank offers you this deal, it will specify a personalised credit limit based on Tesco Bank's assessment of your situation. The minimum limit offered on this card is £100, and Tesco Bank does not specify a maximum. Once you've had the card for a while and shown Tesco Bank you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Tesco Bank Clubcard Plus Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Tesco Bank Clubcard Plus Credit Card is 3.99% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a rather painful fee of £9.98.
The interest rate on this part of your balance will be 24.94% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
What is the minimum payment on the Tesco Bank Clubcard Plus Credit Card?
Each month, you must pay at least 1% of your balance at that point or £25.00 – whichever of the 2 figures is greater. So if you had, say, £2,450.00 outstanding, you'd pay £25.00, and if you had £10,000.00 outstanding, you'd pay £100.00.
Paying only the minimum required amount each month is generally not advisable as it makes it much harder to get debt-free before that introductory 0% period expires.
Finder credit card ratings
Our team evaluates credit cards to determine their value against similar products on the market.
We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles, etc – how costly it is to use day-to-day and whether it offers much in the way of extras. Learn more about our credit card rating methodology.
