In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews

TSB Platinum Purchase Card review

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TSB Platinum Purchase Card
4.0
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 24.95% (variable) p.a., your representative rate is 24.9% APR (variable).
0% interest on balance transfers
12 months
0% interest on purchases
12 months
Account fee
£0

Our verdict

Take control of your spending with this dual interest-free period on purchases and balance transfers.

If you're about to make some big purchases, while paying off existing card debt, this could be a handy card to have in your wallet.

Despite being billed as a card for spreading the cost of purchases, it also boasts an introductory period of up to 12 months 0% interest on balance transfers. It’s not the longest you can find among the so-called “matched” credit cards, but it’s still very good.

There's no annual or monthly account fee, but if you do decide to transfer a balance from an old card, you'll incur a fee of 2.95% for 3 months reverting to 5%. This makes it less than ideal if the balance you need to transfer is quite big, in which case you might be better off with a card that focuses more on balance transfers than on purchases.

Finally, you might want to set an alarm for when the intro period is over. This card’s revert rate isn’t especially convenient, so you really need to pay off your balance before then, in order to avoid being charged any interest. Also, at that point this card won’t have much in it for you and it may be time to shop around for a new one.

Pros

  • A year of 0% interest on balances transferred to focus on reducing your card debt
  • A year to spread the cost of purchases
  • No annual fee

Cons

  • Applicants with low credit scores are unlikely to be eligible

In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews

Details

Product Overview

Issuer TSB
Network Mastercard
Annual/monthly fees £0
Balance transfers 0% for 12 months reverting to 24.95%
Balance transfer fee 2.95% for 3 months reverting to 5%
Purchases 0% for 12 months reverting to 24.95%
Purchases interest-free period Up to 56 days
Cash advances 30.95%
Minimum credit limit £500
Maximum credit limit Subject to status
Additional cards available 1
Potential costs 4.0 ★★★★★
Doing its job 4.0 ★★★★★
Extras 4.0 ★★★★★
Overall Finder score 4.0 ★★★★★

Fees and charges

Minimum monthly payment 1% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance.
Annual/monthly fees £0
Balance transfer fee 2.95% for 3 months reverting to 5%
Foreign usage charge (EU) 2.95%
Foreign usage charge (rest of world) 2.95%
Cash advance fee 3% (min. £3)
Late payment fee £12
Duplicate statement fee £0
Exceeding limit fee £12
Additional card fee £0
Dormancy fee £0

Application Requirements

Minimum Age 18
Availability Available to new customers

The TSB Platinum Purchase 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?

TSB's card

1 - 1 of 1
Name Product Finder score Finder score Balance transfers Money transfers Purchases Annual/monthly fees Representative APR Link Incentive Representative example
TSB Platinum Purchase Card
4.0
★★★★★
★★★★★
Expert analysis
0% for 12 months
(2.95% fee)
N/A
0% for 12 months reverting to 24.95%
£0
24.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 24.95% (variable) p.a., your representative rate is 24.9% APR (variable).
loading

Other popular matched 0% deals

Table: sorted by length of 0% offer
Name Product Finder score Finder score Balance transfers Money transfers Purchases Annual/monthly fees Representative APR Link Incentive Representative example
Royal Bank of Scotland Purchase & Balance Transfer Credit Card
4.0
★★★★★
★★★★★
Expert analysis
0% for 19 months
(2.99% fee)
26.9%
(3% fee)
0% for 19 months reverting to 24.9%
£0
24.9% APR (variable)
Go to site
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
NatWest Purchase & Balance Transfer Credit Card
4.0
★★★★★
★★★★★
Expert analysis
0% for 19 months
(2.99% fee)
26.9%
(3% fee)
0% for 19 months reverting to 24.9%
£0
24.9% APR (variable)
Go to site
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
MBNA 0% Transfer and Purchase Credit Card
3.5
★★★★★
★★★★★
Expert analysis
0% for 21 months
(3.49% fee)
0% for 12 months
(4% fee)
0% for 21 months reverting to 24.94%
£0
24.9% APR (variable)
Earn up to 15% cashback on purchases through Smart Rewards at popular retailers.
Representative example: When you spend £1,200 at a purchase rate of 24.94% (variable) p.a., your representative rate is 24.9% APR (variable).
Ulster Bank Purchase & Balance Transfer Credit Card Mastercard
3.5
★★★★★
★★★★★
Expert analysis
0% for 19 months
(2.99% fee)
26.9%
(3% fee)
0% for 19 months reverting to 24.9%
£0
24.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
loading

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.

Repayment options

You can make manual repayments through TSB's app by logging in to your online banking or over the phone (0345 835 3846). 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 could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 12 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).

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

How to apply for this TSB deal

If you've compared cards and settled on the TSB Platinum Purchase Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.

Frequently asked questions

What credit limit will I get with the TSB Platinum Purchase Card?

If TSB offers you this deal, it will specify a personalised credit limit based on TSB's assessment of your situation. The minimum limit offered on this card is £500, and TSB does not specify a maximum. Once you've had the card for a while and shown TSB you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the TSB Platinum Purchase 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 TSB Platinum Purchase Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.

The interest rate on this part of your balance will be 30.95%, which is 24% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the TSB Platinum Purchase Card abroad?

Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£172.28), it'll cost you around £5.08 in fees.

What is the minimum payment on the TSB Platinum Purchase Card?

Each month, you must pay at least 1% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £450.00 outstanding, you'd pay £5.00, and if you had £2,000.00 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.

Finder credit card scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score matched/balanced credit cards to determine their value against similar products on the market. We look at a number of important factors, like the length of the introductory offer, balance transfer fees, any restrictions to the offer, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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