Approval for any credit card will depend on your status. The APR shown represents 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.
Tesco Bank Purchases Credit Card review July 2020
Spread the cost of large purchases and enjoy 0% interest on your spending.
You say: ★★★★★We say: ★★★★★
Doing its job: 5/5
In a nutshell:
0% interest on purchases
0% interest on money transfers
|Purchases||0% for 18 months reverting to 19.944%|
|Purchases interest-free period (days)||56|
|Balance transfers||0% for 3 months reverting to 21.814%|
|Incentive||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.|
|Additional cards available||1|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
If you have a large expenditure coming up and you want to spread the cost, a 0% purchases deal lets you do so at no expense. And while these cards aren’t usually associated with earning rewards, all Tesco Bank credit cards can earn you Clubcard points on your spending. That means Tesco Bank effectively pays you to choose it as your card issuer… but there are a couple of catches to beware of.
First up, it’s fairly crucial to note that the card’s APR and the length of the 0% period can be tailored to the applicant. In other words, if you don’t have excellent credit, there’s a decent chance Tesco Bank will offer you a higher interest rate (that kicks in after the 0% period ends) and/or a shorter 0% period.
During the 0% period, if you miss a repayment date, then you’ll lose your promotional rate. There are also a few exceptions to the 0% deal – such as cash advances (that’s withdrawing cash using the card).
If you don’t clear your debt before the end of the 0% period, then any outstanding balance will start to accrue interest at the card’s less-impressive revert rate of 19.9%.
But exceptions aside, this is a relatively straightforward and sensible way to spread the cost of a major outlay (perhaps a new car, a holiday or even a wedding), provided you use the card correctly and pay what you need to each month to clear your balance before the end of the 0% period.
How does this card compare with other similar cards on the market?
When it comes to repayments, you can make manual repayments online or over the phone (0345 300 4278), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee 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|
How to apply for the Tesco Purchases Credit Card
You can apply for this card online in around 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. Don’t forget to include the details of any other people you’d like to be cardholders.
Finder credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts score 0% purchase credit cards by comparing them to each other. We look at a whole lot of factors, but the most important ones are the length of the 0% period and any fees and costs.
If you want to learn more, the fine prints of our credit card scoring methodology are available on this page.