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 2021
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 20.94%|
|Balance transfer fee||1.99% for 15 months reverting to 3.99% (min. £3)|
|Purchases||0% for 15 months reverting to 20.94%|
|Purchases interest-free period||Up to 56 days|
|Money transfers||0% for 15 months reverting to 29.947%|
|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.
The Tesco Bank All Round 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
- 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?
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 either damaging your credit score, getting hit with a penalty fee (£12) 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|
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).
How to apply for this Tesco credit card
If you've compared cards and settled on the Tesco Bank All Round 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 Tesco Bank All Round 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 All Round Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Tesco Bank All Round 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 All Round Card abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£173.24), it'll cost you around £4.76.
What is the minimum payment on the Tesco Bank All Round 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.