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 15 Month All Round Credit Card review 2020
A good all-rounder which offers interest free periods on balance transfers, purchases and money transfers.
You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on balance transfers
0% interest on purchases
0% interest on money transfers
|Balance transfers||0% for 15 months reverting to 21.814%|
|Balance transfer fee||1.99% for 15 months reverting to 3.99% (min. £3)|
|Purchases||0% for 15 months reverting to 19.944%|
|Purchases interest-free period||Up to 56 days|
|Money transfers||0% for 15 months reverting to 21.814%|
|Min credit limit||£100|
|Max credit limit||Subject to status|
|Additional cards available||1|
|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.|
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’re looking to take a break from interest on an outstanding card balance, but need a card that you can also use for upcoming purchases (or even transfers from the card to another account), this card is worth a closer look.
As with all Tesco Bank credit cards, you could even earn a few Clubcard points along the way – and you’ll earn these at a higher rate when you use the card at Tesco.
It’s a solid all-rounder… but for a limited time only. After the card’s 0% periods have expired, it’s likely to be time to shop around for a better value or more rewarding deal. If you only need a credit card to do one thing (like spread the cost of an upcoming large purchase, save money on interest or earn reward points), then a more specialised card from Tesco or another issuer might be more suitable.
Pros and cons
- Customers report excellent customer service when dealing with Tesco Bank
- Over a year of 0% interest to focus on reducing existing card debt
- Over a year to spread the cost of purchases
- Over a year of 0% interest on funds you transfer out from the card
- Earn Clubcard points on day-to-day spending
- No annual fee
- 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 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.
If you’re planning on making one or a few large purchases when you open the card, you can divide the cost of these by 15 and set up a direct debit for this amount. As the card has a 15-month 0%-on-purchases deal attached to it, this will ensure your balance is cleared before you have to begin paying interest on your debt (assuming you don’t use the credit card to fund any more purchases).
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for this Tesco credit card
If you’ve compared cards and want to apply, 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.