Tesco Bank Low APR Credit Card review September 2019

If short-lived 0% deals aren't your thing and you're more interested in a low, ongoing (albeit variable) rate, this card's hard to beat.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 5.94% (variable) p.a., your representative rate is 5.9% APR (variable).

1 month

0% interest on balance transfers

0%

Balance transfer fee

1 month

0% interest on purchases

5.9%

Representative APR

Details

IssuerTesco Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 1 months reverting to 6.054%
Balance transfer fee0% for 1 month reverting to 3.99%
Purchases0% for 1 months reverting to 5.94%
Purchases interest-free periodUp to 56 days
Money transfers0% for 1 months reverting to 6.054%
Cash advances24.942%
Min. credit limit£250
Max credit limitSubject to status
Additional cards available1
Incentive1 Tesco Clubcard point per £4 spent (£4 minimum) in Tesco and 1 Clubcard point per £8 spent (£8 minimum) outside Tesco in each purchase transaction. Exclusions apply. Clubcard points collection rates are subject to change. Must have available credit. Clubcard points are converted to Clubcard vouchers which can be used on your shopping in Tesco, or get even more value through Clubcard Rewards Partners.

Expert review

Chris Lilly

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’re looking to keep things simple with a straightforward, cheap credit card and you collect Clubcard points, the Clubcard Credit Card with Low APR is a very strong contender.

Because the rates are low indefinitely, you don’t need to set any calendar reminders for expiring introductory deals. Just bear in mind that the rate is variable (meaning that Tesco Bank will periodically change it at their discretion) and, crucially, can be tailored to the individual applicant.

If you want to save interest on significant existing credit card debt, or if you’re looking to spread the cost of a large upcoming expenditure, there are better options (at least in the shorter-term) available from both Tesco Bank and other card issuers. There are numerous 0% interest offers available, which are great while the interest-free period lasts, but usually best ditched after that point.

As with all Tesco Bank credit cards, you’ll be able to earn additional Tesco Clubcard reward points on your day-to-day spending, and you’ll earn these at a higher rate when you shop at Tesco. There’s also a token, short introductory interest-free period on balance transfers and purchases.

Compare low rate credit cards

Table: sorted by representative APR, promoted deals first
Updated September 19th, 2019
Name Product Purchases Balance transfers Annual/monthly fees Rep. APR Incentive Representative example
0% for 1 months reverting to 5.94%
0% for 1 months reverting to 6.054%
£0
5.9% p.a. (variable)
1 Tesco Clubcard point per £4 spent (£4 minimum) in Tesco and 1 Clubcard point per £8 spent (£8 minimum) outside Tesco in each purchase transaction. Exclusions apply. Clubcard points collection rates are subject to change. Must have available credit. Clubcard points are converted to Clubcard vouchers which can be used on your shopping in Tesco, or get even more value through Clubcard Rewards Partners.
Representative example: When you spend £1,200 at a purchase rate of 5.94% (variable) p.a., your representative rate is 5.9% APR (variable).
9.9%
6.9%
£0
9.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).
9.9%
N/A
£0
9.9% p.a. (variable)
Earn 2,500 bonus Membership Rewards points when you spend £1,000 in your first 3 months, and 1 point for virtually every £1 spent thereafter.
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).
9.9%
6.9%
£0
9.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).
6.9%
6.9%
£0
6.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 6.9% (variable) p.a., your representative rate is 6.9% APR (variable).
4.9% for 48 months reverting to 8.9%
4.9% for 48 months reverting to 8.9%
£0
8.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 8.9% (variable) p.a., your representative rate is 8.9% APR (variable).
9.95%
9.95%
£0
9.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.95% (variable) p.a., your representative rate is 9.9% APR (variable).
9.9%
9.9%
£0
9.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).

Compare up to 4 providers

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.

Repayment options

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

Frequently asked questions

Will I earn Clubcard points with Tesco Bank’s Clubcard credit card?
As with all of Tesco Bank’s credit cards, with this card you’ll be eligible for additional Clubcard points on your day-to-day spending. You’ll earn 1 point per £4 spent with Tesco and 1 point per £4 spent elsewhere. You can compare it with other reward cards from Tesco and other issuers using our rewards card comparison table.
What’s the best credit card with low APR?
The best low rate card for you will depend on how you intend to use the card. Interest rates can be tailored to the applicant and may vary depending on individual circumstances, so it’s a smart idea to use an eligibility checker before you apply. Generally, though, Tesco Bank’s credit cards Clubcard credit card holds up very well against the competition. If you want to compare low rate credit cards from different providers, here’s our guide.
What will my credit limit be?
Your credit limit will be confirmed by Tesco Bank once you’ve completed your application and it’s been approved. As the exact figure will vary depending on your personal circumstances, Tesco Bank can’t give you an exact figure before your application has been received.
Can I lower my interest rate?
It’s highly uncommon for an interest rate to be changed at the customer’s, rather than the provider’s, discretion. The best course of action is to make sure you’re happy with the interest rate offered by your credit card company before accepting the card. If it’s too late for this, though, you could try and negotiate a lower rate with your provider. As this is so uncommon, though, it’s unlikely to work. The best thing to do is to transfer your balance to a card with a lower rate.

How to apply for the Tesco Bank Clubcard Credit Card with Low APR

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.

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Our team evaluates credit cards to determine their value against similar products on the market.

We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles etc. – how costly it is to use day-to-day and whether it offers much in the way of extras.

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although 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, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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