Tesco Bank balance transfer credit cards 2020

Tesco Bank currently boasts some of the longest 0% balance transfer deals on the market.

Updated

If you’re looking to transfer a sizeable credit card balance in order to take a break from paying interest on it, Tesco Bank should definitely be on your radar. Many of Tesco Bank’s credit cards also offer lengthy 0%-on-purchase deals alongside their balance transfer offers and allow you to earn Tesco Clubcard points on purchases. Some cards also allow 0% money transfers from your credit card to your current account, which could be useful if you’re consistently stuck in your overdraft.

Tesco Bank 0% balance transfer credit cards

Table: sorted by representative APR, promoted deals first
Data indicated here is updated daily
Name Product Balance transfers Money transfers Purchases Annual/monthly fees Rep. APR Link Incentive Representative example
Tesco Bank Balance Transfer Card
0% for 22 months
(2.98% fee)
0% for 12 months
(3.99% fee)
19.944%
£0
19.9% (variable)
More Info
1 point 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.
Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a., your representative rate is 19.9% APR (variable).
Tesco Bank All Round Card
0% for 15 months
(1.99% fee)
0% for 15 months
(3.94% fee)
0% for 15 months reverting to 19.944%
£0
19.9% (variable)
More Info
1 point 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.
Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a., your representative rate is 19.9% APR (variable).
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How do Tesco balance transfers work?

  1. You can apply for a Tesco credit card via the Tesco Bank website. The application takes around 10 minutes to complete. You’ll need to provide personal information, bank details and information about the balances you want to transfer.
  2. You’re promised a decision on your application within 10 minutes. It’s possible you may be approved for a credit card with different terms depending on how your personal circumstances were assessed.
  3. You’ll receive your card within five to seven days. You’ll have to activate it by calling Tesco Bank or using its mobile app.
  4. Once you activate your card, Tesco Bank will begin the process of transferring existing balances over to your new card. This can take two to three working days. You should continue making payments to your old credit card until the transfer is complete.
  5. You can arrange additional balance transfers whenever you like, but the 0% introductory deal only applies to balances transferred within 90 days of activating your card.

How long does a Tesco balance transfer take?

Balance transfers you request during your card application won’t take place until your credit card is activated. You can expect the process to take two to three days, once your card has been activated. Additional balance transfers will also take between two to three days to complete.

How should I compare Tesco balance transfer deals?

Here are some of the key features you’ll want to look at when deciding which Tesco Bank balance transfer offer might be the best option for you:

  • Length of 0% period. Tesco Bank has one of the longest fee-free 0% balance transfer deals on the market. If this card has a 0% period long enough for you to clear your balance, it’s likely to be your best choice. If you need a longer 0% deal, there are other cards to choose from. Bear in mind that longer 0% deals come with larger balance transfer fees, so go with the shortest deal that’ll allow you to pay off your balance in full.
  • Balance transfer fee. This is expressed as a percentage of the balance being transferred. The fee is deducted from your credit card balance.
  • 0%-on-purchase deals. Many Tesco Bank credit cards also have lengthy 0% deals on purchases. If this appeals, opt for a card that includes it. Remember, your 0% deals on purchases and balance transfers might have different lengths.
  • Standard rate. This is the rate you’ll pay on purchases and balance transfers outside of your 0% periods.

Bottom line

If you’re hoping to have a break from paying interest on your debt with a balance transfer credit card, check out Tesco Bank’s offerings.

Lengthy 0% balance transfers tend to come with bigger balance transfers fees so be sure to compare deals to make sure you find a credit card that works for you and your situation.

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