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Tesco Bank Foundation Clubcard Credit Card Mastercard Review September 2019
Helping you to improve and rebuild your credit rating while collecting Tesco Clubcard points on spending.
Representative example: When you spend £1,200 at a purchase rate of 27.542% (variable) p.a., your representative rate is 27.5% APR (variable).
27.5%
Representative APR
£0
Account fee
Up to 56 days
Interest-free each billing period
£250
Minimum credit limit
Details
| Issuer | Tesco Bank |
|---|---|
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 27.542% |
| Balance transfer fee | 3.99% |
| Purchases | 27.542% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 39.941% |
| Cash advances | 39.941% |
| Min. credit limit | £250 |
| Max credit limit | Subject to status: £1,500 |
| Additional cards available | 3 |
| Incentive | Collect 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. Must have available credit to collect Clubcard points. Clubcard points are turned into Clubcard vouchers every 3 months or sooner using Faster Vouchers. Clubcard vouchers can be used in Tesco or with Clubcard Reward Partners to get even more value on dining out, hotel stays and travel. |
If you’ve got poor credit and are hoping to improve it, the Tesco Bank Foundation Clubcard Credit Card Mastercard is one of just a handful of “credit building” cards on the market that lets you collect rewards while helping you to improve your credit score. You can collect Tesco Clubcard points as you spend, and you’ll collect these at a higher rate when you shop at Tesco.
The card offers a number of tools to help you protect and improve your credit score, including text/email alerts and the mobile app.
Expect to start small with a low, manageable credit limit, which could increase over time if you manage your account well.
How does this card compare with other similar cards on the market?
Table: sorted by representative APR, promoted deals first
Updated September 21st, 2019
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 |
|---|---|---|---|
How to apply for the Tesco Bank Foundation Clubcard Credit Card Mastercard
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.