Looking for a credit card that allows you to make instant purchases with zero interest? Want something that lets you in on exclusive deals and rewards? Ever thought of turning to Tesco?
Tesco Bank provides a wide range of credit cards designed to fit your everyday needs and lifestyle. Aside from paying ZERO annual fees, you also get access to rewards and payment plans unlike any other.
If you are interested in learning more about Tesco credit cards, keep reading. In this article we’re going to zone in on the Tesco Bank Purchases Credit Card and how to apply online.
Tesco Bank Credit Card Features and Benefits
One of the most enticing offerings by Tesco Bank is their Tesco Bank Purchases Credit Card. To understand the perks this brings you, let’s take a closer look at what the card has to offer.
Known as their longest 0% interest credit card, you will be given the chance to make big purchases with absolutely zero interest. This means you won’t have to shell out extra money just to buy big-ticket items for up to 28 months.
Even better, you get to collect Tesco Clubcard points almost everywhere you use your card. As a Tesco patron, you will also get your usual points at Tesco. For every £4 spent in Tesco and for every £8 spent elsewhere, you’ll earn 1 Clubcard point. Use your accumulated points to redeem vouchers you can use in-store or with partner establishments.
Through their online and mobile banking services, you will gain access to your accounts everywhere you go. This allows you to make direct payments towards your bills and other purchases.
How to Apply for a Tesco Bank Credit Card
To apply for a Tesco Bank Purchases Credit Card, simply fill out the online credit card application form found on the Tesco Bank website. To be eligible, you must be at least 18 years old and must have an annual income of at least £5,000. You must also hold NO more than 1 Tesco Bank Credit Card under your name.
Some of the paperwork that will be asked for during your application includes your address history from the past three years, annual income details and a breakdown of your monthly take-home pay, other credit cards, and your bank account number.
After submitting your application, it is likely that the bank will give you their decision in under 10 minutes. If approved, your credit limit may range anywhere from £250 to £3,000 depending on your financial status.
Tesco Bank Credit Card Fees and Charges
Owning a Tesco Bank Purchases Credit Card comes with financial responsibility. Here are some of the main fees for this particular credit card…
- Annual Fee: NO annual membership fees
- Monthly Interest Rate: Ranges from 1.527% to 2.008% (after the introductory rate of 0% for 28, 22, or 16 months from account opening)
- Late Payment Fee: £12
- Over-limit Fee: £12
- Cash Withdrawal Fee: 3.99% or £3 (whichever is higher)
Tesco Bank Address & Contact
2 South Gyle Crescent
Contact: 0131 203 5000
Overall, a Tesco Bank Credit Card is a great choice if you’re looking for a low-interest credit card that gives you rewards for almost all your purchases. Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.