Tesco Bank Purchases Credit Card review 2021

Spread the cost of large purchases and enjoy 0% interest on your spending.

You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 20.94% (variable) p.a., your representative rate is 20.9% APR (variable).

23 months

0% interest on purchases

20.9%

Representative APR

3 months

0% interest on money transfers

£0

Account fee

Details

IssuerTesco Bank
NetworkMastercard
Purchases0% for 23 months reverting to 20.94%
Purchases interest-free period (days)56
Balance transfers0% for 3 months reverting to 20.94%
Cash advances29.95%
Incentive1 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.
Min credit limit£100
Max credit limitSubject to status
Additional cards available1

Review by


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.

Expert review

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 20.9%.

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.

The Tesco Bank Purchases Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.

Pros and cons

Pros

  • Almost two years to spread the cost of purchases
  • Earn Clubcard points on day-to-day spending
  • No annual fee

Cons

  • Applicants with low credit scores are unlikely to be eligible
  • Relatively high money transfer fee
  • You may be offered an opening credit limit as low as £100

How does it compare with other 0% purchases deals?

Table: sorted by representative APR, promoted deals first
Name Product Purchases Balance transfers Annual/monthly fees Representative APR Incentive Link
M&S Bank Shopping Plus Credit Card
0% for 22 months reverting to 21.9%
0% for 22 months
(2.9% fee)
£0
21.9% APR (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Check eligibility
Santander All in One Credit Card
0% for 20 months reverting to 17.9%
0% for 26 months
(0% fee)
£3 per month
23.7% APR (variable)
0.5% cashback after £1 of monthly spend. Cashback paid monthly into card account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 17.9% (variable) p.a. with a fee of £3 per month, your representative rate is 23.7% APR (variable).
Check eligibility
HSBC Purchase Plus Credit Card Visa
0% for 18 months reverting to 22.9%
0% for 18 months
(2.9% fee)
£0
22.9% APR (variable)
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
Check eligibility
M&S Bank Rewards Offer Mastercard
0% for 12 months reverting to 19.9%
0% for 12 months
(2.9% fee)
£0
19.9% APR (variable)
Double points on spend in M&S for first 12 months (2 points per £1). Then earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Check eligibility
Barclaycard Business Premium Plus Credit Card
0% for 6 months reverting to 14.9%
N/A
£150 per annum
49.4% APR (variable)
0.5% after £1 of yearly spend. Maximum of £400 cashback paid per year. Cashback paid Anniversary into Card Account. If less than £10 Cashback earned in any Cashback Year, it will not be credited to the account and will not be carried forward to the following year.
Representative example: When you spend £1,200 at a purchase rate of 14.9% (variable) p.a. with a fee of £150 per annum, your representative rate is 49.4% APR (variable).
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Tesco Bank Clubcard Plus Credit Card Mastercard
0% for 24 months reverting to 19.944%
21.814%
(3.99% fee)
£7.99 per month
37.7% APR (variable)
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. Card can also be used as a Clubcard to collect standard points at 1 point per £1 spent on shopping and 1 point per £2 spent on fuel. Points are converted to Tesco vouchers which can be used towards shopping or exchanged for Partner Rewards.
Representative example: When you spend £1,200 at a purchase rate of 19.944% (variable) p.a. with a fee of £7.99 per month, your representative rate is 37.7% APR (variable).
Tesco Bank Purchases Card
0% for 23 months reverting to 20.94%
0% for 3 months
(2.99% fee)
£0
20.9% APR (variable)
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 20.94% (variable) p.a., your representative rate is 20.9% APR (variable).
Sainsbury's Bank Dual 22 Month Offer Credit Card Mastercard
0% for 22 months reverting to 20.95%
0% for 22 months
(3% fee)
£0
20.9% APR (variable)
Earn 3 Nectar points per £1 spent in Sainsbury's and Argos. Earn 1 Nectar point for every £5 spent elsewhere. Earn 500 bonus points each time you spend £35 or more on Sainsbury's shopping with your credit card, up to ten times in your first 2 months, offer available for new customers.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
MBNA 0% Transfer and Purchase Credit Card
0% for 21 months reverting to 21.93%
0% for 21 months
(2.99% fee)
£0
21.9% 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 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
Lloyds Bank Platinum 0% Purchase and Balance Transfer Mastercard
0% for 21 months reverting to 21.94%
0% for 18 months
(2.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.94% (variable) p.a., your representative rate is 21.9% APR (variable).
Barclaycard Platinum All-Rounder Visa
0% for 21 months reverting to 21.9%
0% for 20 months
(2.9% fee)
£0
21.9% APR (variable)
Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive presale tickets on selected festivals with 10% off ticket prices.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Ulster Bank Purchase & Balance Transfer Credit Card Mastercard
0% for 20 months reverting to 21.9%
0% for 20 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Tesco Bank Clubcard Balance Transfer and Purchases Credit Card
0% for 20 months reverting to 20.94%
0% for 20 months
(1.99% fee)
£0
20.9% APR (variable)
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. Card can also be used as a Clubcard to collect standard points at 1 point per £1 spent on shopping and 1 point per £2 spent on fuel. Points are converted to Tesco vouchers which can be used towards shopping or exchanged for Partner Rewards.
Representative example: When you spend £1,200 at a purchase rate of 20.94% (variable) p.a., your representative rate is 20.9% APR (variable).
Royal Bank of Scotland Purchase & Balance Transfer Credit Card Mastercard
0% for 20 months reverting to 21.9%
0% for 20 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
NatWest Purchase & Balance Transfer Credit Card Mastercard
0% for 20 months reverting to 21.9%
0% for 20 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Virgin Money 19 Month All Round Credit Card Mastercard
0% for 19 months reverting to 21.9%
0% for 19 months
(2.9% fee)
£0
21.9% APR (variable)
Enjoy exclusive offers and rewards on the Virgin Red app.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Santander World Elite Mastercard
0% for 18 months reverting to 18.9%
0% for 18 months
(0% fee)
£15 per month
49.8% APR (variable)
0.5% cashback on £1 to £3000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid monthly into card account.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £15 per month, your representative rate is 49.8% APR (variable).
Sainsbury's Bank Nectar Reward Credit Card
0% for 17 months reverting to 20.95%
0% for 17 months
(3% fee)
£0
20.9% APR (variable)
Earn 10,000 Nectar points if £400 spent at Sainsbury's, Argos or Tu Clothing during first two months of opening. Earn up to 3 Nectar points per £1 spent at Sainsbury's and Argos. Earn 1 Nectar point for every £5 spent elsewhere. Earn 8,000 bonus points when you use your card to spend a total of £400 or more at Sainsbury's, Argos, Habitat or Tu Clothing during the 2 months after your account is opened.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
Halifax 0% Purchase and Balance Transfer Mastercard
0% for 17 months reverting to 21.93%
0% for 17 months
(2.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
first direct Gold Credit Card
0% for 17 months reverting to 16.9%
16.9%
(2.9% fee)
£0
16.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 16.9% (variable) p.a., your representative rate is 16.9% APR (variable).
Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard
0% for 17 months reverting to 21.93%
0% for 17 months
(2.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
TSB Platinum Purchase Card
0% for 15 months reverting to 21.95%
0% for 15 months
(1.45% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a rate of 19.95% (variable) per annum, your representative APR is 19.9% APR (variable).
Tesco Bank 15 Month All Round Clubcard Credit Card Mastercard
0% for 15 months reverting to 20.94%
0% for 15 months
(1.99% fee)
£0
20.9% APR (variable)
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. Card can also be used as a Clubcard to collect standard points at 1 point per £1 spent on shopping and 1 point per £2 spent on fuel. Points are converted to Tesco vouchers which can be used towards shopping or exchanged for Partner Rewards.
Representative example: When you spend £1,200 at a purchase rate of 20.94% (variable) p.a., your representative rate is 20.9% APR (variable).
Nationwide Member Credit Card All Rounder Offer
0% for 15 months reverting to 19.9%
0% for 15 months
(1.5% fee)
£0
19.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Virgin Money 12 Month All Round Credit Card Mastercard
0% for 12 months reverting to 27.9%
0% for 12 months
(2.9% fee)
£0
27.9% APR (variable)
Enjoy exclusive offers and rewards on the Virgin Red app.
Representative example: When you spend £1,200 at a purchase rate of 27.9% (variable) p.a., your representative rate is 27.9% APR (variable).
Post Office Classic Card
0% for 12 months reverting to 34.94%
0% for 12 months
(2.9% fee)
£0
34.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 34.94% (variable) p.a., your representative rate is 34.9% APR (variable).
Virgin Money Travel Credit Card
0% for 9 months reverting to 21.9%
0% for 9 months
(2% fee)
£0
21.9% APR (variable)
Enjoy exclusive offers and rewards on the Virgin Red app.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Lloyds Bank Platinum Low Fee 0% Balance Transfer Mastercard
0% for 9 months reverting to 21.94%
0% for 22 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.94% (variable) p.a., your representative rate is 21.9% APR (variable).
John Lewis and Waitrose Partnership Mastercard
0% for 9 months reverting to 18.9%
0% for 18 months
(2.9% fee)
£0
18.9% APR (variable)
Earn 5 points for every £4 spent in store or online at John Lewis, Waitrose and John Lewis Insurance. Earn 1 Point for every £4 spent elsewhere. Vouchers issued once customer reaches 500 points in Feb, Jun or Oct when vouchers are automatically issued to customers. Every 500 points is worth £5.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
HSBC Premier Credit Card
0% for 9 months reverting to 18.9%
0% for 18 months
(1.4% fee)
£0
18.9% APR (variable)
A selection of rewards from a range of partners. Earn 1 point for every £1 spent within the UK and earn 2 points for every £1 spent outside the UK. Points can be redeemed for shopping vouchers and frequent flyer miles.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
Halifax Low Fee 0% Balance Transfer Credit Card
0% for 9 months reverting to 21.93%
0% for 29 months
(2.7% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
Bank of Scotland Platinum Low Fee 0% Balance Transfer credit card
0% for 9 months reverting to 21.93%
0% for 22 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
HSBC Rewards Credit Card
0% for 6 months reverting to 21.9%
0% for 6 months
(2% fee)
£0
21.9% APR (variable)
Earn up to 10 points for every £1 spent at selected retailers and 1 point for every £5 spent elsewhere. Bonus 2,500 reward points on anniversary if £10,000 spent in previous year for first 5 years.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Barclaycard Platinum 24 Month Balance Transfer Credit Card
0% for 6 months reverting to 21.9%
0% for 24 months
(0.9% fee)
£0
21.9% APR (variable)
Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive presale tickets on selected festivals with 10% off ticket prices.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Barclaycard Platinum 15 Month No Fee Balance Transfer Visa
0% for 6 months reverting to 21.9%
0% for 15 months
(0% fee)
£0
21.9% APR (variable)
Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive presale tickets on selected festivals with 10% off ticket prices.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
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Approval for any credit card will depend 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.

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 losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £12). If you're planning a major expenditure, you could use a fixed-amount direct debit to ensure you've cleared the debt before the 0% period expires – simply divide your initial expenditure by 23 to see what you'll need to pay each month (this assumes you don't use the card for ongoing 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 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.

Frequently asked questions

What credit limit will I get with the Tesco Bank Purchases Card?

If Tesco Bank is able to offer you this deal, the offer 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 that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the Tesco Bank Purchases 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 Purchases 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 29.95%, which is 43% more than the standard purchases 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 Tesco Bank Purchases Card abroad?

Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£168.71), it'll cost you around £4.64 in fees.

What is the minimum payment on the Tesco Bank Purchases Card?

Each month you must pay at least 1% of your balance at that point or £25.00 – whichever of the two 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

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

Our experts score 0% purchase 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 0% deal, any perks/benefits the card offers, 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.

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