How to Apply for Tesco Bank Credit Card

If you are planning a large expenditure and wish to spread out your cost, then a 0% deal can help you achieve this easily. In fact, the Tesco Bank Purchases Credit card is designed for this specific function. Plus, it will earn you some attractive rewards along the way.

The card has a very long 0% APR period that is designed for its customers. In addition, you really do not need to have good credit to qualify for Tesco cards. They will, however, offer you a very high interest rate after the 0% period expires if your credit is bad.

So, if you have been thinking about getting one of Tesco’s many credit cards, we are about to tell you about their purchase card. We will also tell you about how it can help you make a large purchase and why you should think about it the next time you want to invest.

Tesco Bank on Twitter: "Tesco Bank launches new Purchase Credit ...
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Benefits of the Card

A Great Introductory Rate

They will give you a 0% introductory rate for up to 20 months. This is almost two years, within which you can complete payment for any large purchases you make.

Club Points

Additionally, you get to earn club points whenever you shop using the card. You will get one Clubcard point for every £4 you spend at Tesco. You can also collect these points when you shop online.

Even if you do not spend your money at Tesco, you will still receive Clubcard points at the rate of one point per £8 spent.

Fees and Charges

The Tesco Purchase Card holds the following charges.

  • An annual fee of £0
  • Representative APR – 19.9%.
  • Monthly payments – the minimum monthly payments are £25 or 1% of what is spent, whichever one is higher.
  • Balance transfer fee – this is charged at 2.9% in the first 3 months and then it reverts to a rate of 3.99%.
  • Foreign transactions – charged a 2.75% fee.
  • Cash advance fee – 3.99%.
  • Late payment fee – a charge of £12.
  • Exceeding limit fee – £12.

How to Apply for the Card

To apply for the Tesco card, you should log in to the company’s website and then provide them with the following information.

  • Your full legal name.
  • Your addresses for the last three years.
  • Your bank account and sort code.

However, before you apply, you will need to make sure that you are eligible for this card. To be eligible, you should be earning an income of at least £5,000. In addition, you need to be at least 18 years old and a resident of the UK. Furthermore, You should not have more than one Tesco credit card already if you want to be considered for this offer. Lastly, you cannot have applied for a credit card with Tesco in the last 30 days. 

Now, if you wish to transfer balances to Tesco, you must provide them with additional information about all the other credit cards in your possession.

Please check out the Tesco Bank Website to apply for the credit card. This process takes around 10 minutes online.

Contact Information

To contact the bank with questions or concerns, you can call 0845 300 4278. Alternatively, you can find their address at Interpoint Building 22 Haymarket Yards, Edinburgh EH12 5BH.

Is Tesco cashing in on my card fees?'
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Conclusion

This card has a clear attraction – the 0% introductory offer on purchases. If you wish to make a large purchase and pay it off slowly over the course of two years, then this card could be what you have been looking for.

Just ensure to clear the debt within 20 months, because their standard APR will kick in immediately after that. 

Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.