TSB Classic Credit Card review September 2019

Kick-start your credit history with this credit builder that offers 0% interest on purchases and balance transfers, available exclusively in-branch.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 26.95% (variable) p.a., your representative rate is 26.9% APR (variable).

10 months

0% interest on balance transfers

10 months

0% interest on purchases

26.9%

Representative APR

£0

Account fee

Details

IssuerTSB
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 10 months reverting to 26.95%
Balance transfer fee2.95% for 3 months reverting to 3%
Purchases0% for 10 months reverting to 26.95%
Purchases interest-free periodUp to 56 days
Cash advances26.95%
Min. credit limit£500
Max credit limitNot specified
Additional cards available1

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

For those looking to build or rebuild a positive credit record, TSB’s Classic Credit Card offers a chance to consolidate higher-rate balances you might have on other cards, and also to spread the cost of upcoming purchases.

As you might expect from a “credit builder”, the Classic card comes with no annual fee to worry about, plus opening credit limits (which are tailored to the applicant) are relatively small and the standard rate is relatively high. However, if you clear your balance in full each month, you won’t pay interest on purchases – you’ll benefit from up to 56 days of 0% interest each billing cycle.

Don’t forget that if you opt to take advantage of the balance transfer offer, there’s a fee of 2.95% for 3 months reverting to 3%, and that after any introductory offer periods have expired, your balance will start to accrue interest at a not-so-competitive rate.

How does this card compare with other credit builders?

The Classic card

Updated September 17th, 2019
Name Product Annual/monthly fees Min. credit limit Max credit limit Min income Rep. APR Incentive Representative example
£0
£500
Not specified
Not specified
26.9%
Representative example: When you spend £1,200 at a purchase rate of 26.95% (variable) p.a., your representative rate is 26.9% APR (variable).

Compare up to 4 providers

Other credit builder credit cards

Table: sorted by representative APR, promoted deals first
Updated September 17th, 2019
Name Product Annual/monthly fees Min. credit limit Max credit limit Min income Rep. APR Incentive Representative example
£0
£250
Subject to status: £1,000
Not specified
24.7%
Stay in control of your account with online servicing, a mobile app, SMS and email alerts.
Representative example: When you spend £1,000 at a purchase rate of 24.7% (variable) p.a., your representative rate is 24.7% APR (variable).
£0
£500
Subject to status: £1,500
£15,000
24.9%
No fees for making purchases or withdrawing cash abroad – currencies are converted at the standard Mastercard exchange rate.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
£0
£250
Subject to status: £1,000
Not specified
29.3%
Representative example: When you spend £1,000 at a purchase rate of 29.3% (variable) p.a., your representative rate is 29.3% APR (variable).
£0
£250
Subject to status: £1,000
Not specified
29.8%
You could get a credit limit increase after your 5th statement and further increases every 5 months, up to £4,000.
Representative example: When you spend £1,000 at a purchase rate of 29.84% (variable) p.a., your representative rate is 29.8% APR (variable).
£0
£100
Subject to status: £600
£10,000
34.9%
Earn Asda vouchers every time you shop - 1% cashback on all Asda spend, 0.2% on all other transactions. Once £2.5 is earnt a voucher can be downloaded to spend in Asda stores.
Representative example: When you spend £1,200 at a purchase rate of 34.9% (variable) p.a., your representative rate is 34.9% APR (variable).
£0
£150
Subject to status: £1,000
Not specified
39.9%
Representative example: When you spend £1,000 at a purchase rate of 39.94% (variable) p.a., your representative rate is 39.9% 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 835 3846), 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 TSB Classic 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.

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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