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Compare Tesco Bank Credit Cards

Updated: 28th September 2021

Tesco is much more than a supermarket. At the Tesco Bank arm, you will find a range of credit cards which largely focus on interest-free periods. There is seemingly a Tesco credit card for just about everybody, designed to meet a range of borrowing needs. And you’ll have the added bonus of earning Tesco Clubcard points along the way.

We’ve reviewed the cards in the Tesco Bank portfolio, looking at the length of the introductory offers, interest rates, fees and Clubcard rewards to come up with our favourites.

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Here are The Motley Fool’s picks for the best Tesco credit cards

Credit card offers from our affiliate partners appear first and are ordered from highest rating to lowest, followed by other top-rated offers. You can read more about our ratings and page sort here. Offers from affiliate partners are marked with a *.

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Great for: 0% on purchases and balance transfers, no balance-transfer fee
4.5 stars question mark

The Tesco Bank 12 Month All Round Credit Card succeeds by being just what the name says: a good all-round option. You can find longer 0% interest periods elsewhere, but 12 months of 0% on purchases, balance transfers, and money transfers is a nice combination. No balance transfer fee adds to the appeal, as does the ability to earn Clubcard points.

Read full review >

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 0% interest for 12 months on purchases
  • 0% interest for 12 months on balance transfers and money transfers made in the first 90 days
  • No annual fee
  • No balance transfer fee (3.94% money transfer fee)
  • 1 Tesco Clubcard point for every £1 spent at Tesco and for every £8 spent elsewhere

REPRESENTATIVE EXAMPLE

Representative rate 19.9% APR (variable)
Purchase rate 19.9% p.a. (variable)
Based on borrowing £1,200

what we like

  • 0% interest for 12 months on purchases
  • 0% interest for 12 months on balance transfers and money transfers made in the first 90 days
  • No annual fee
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    19.9%
  • INTRO OFFER:

    0% interest for 12 months on purchases, balance transfers and money transfers

KEY SCORES:

  • 4/5 Perks
  • 3/5Fees
  • 4/5APR

HIGHLIGHTS

  • 0% interest for 12 months on purchases
  • 0% interest for 12 months on balance transfers and money transfers made in the first 90 days
  • No annual fee
  • No balance transfer fee (3.94% money transfer fee)
  • 1 Tesco Clubcard point for every £1 spent at Tesco and for every £8 spent elsewhere

REPRESENTATIVE EXAMPLE

Representative rate 19.9% APR (variable)
Purchase rate 19.9% p.a. (variable)
Based on borrowing £1,200
Great for: Long 0% balance transfer period
3.5 stars question mark

Tesco’s Balance Transfer Card gives successful applicants 22 months of 0% interest on balance transfers. That’s very near the longest on the market. There is a 2.99% balance transfer fee to be paid, but that’s typical of 0% offers of this length. The card also offers 12 months 0% on money transfers, with a 3.99% fee, and Tesco Clubcard points, making it a very well-rounded offer.

Read full review >

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 22 months 0% interest on balances transferred in the first 90 days
  • 12 months 0% interest on money transfers made in the first 90 days
  • 5 Tesco Clubcard points for every £4 spent at Tesco
  • 1 Tesco Clubcard point for every £8 spent elsewhere
  • No annual fee

REPRESENTATIVE EXAMPLE

Representative rate 20.9% APR (variable)
Purchase rate 20.9% p.a. (variable)
Based on borrowing £1,200

what we like

  • 22 months 0% interest on balances transferred in the first 90 days
  • 12 months 0% interest on money transfers made in the first 90 days
  • Collect Tesco Clubcard points on all spend
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    20.9%
  • INTRO OFFER:

    0% interest for 22 months on balance transfers in the first 90 days

    0% interest for 12 months on money transfers in the first 90 days

KEY SCORES:

  • 4/5 Perks
  • 3/5Fees
  • 4/5APR

HIGHLIGHTS

  • 22 months 0% interest on balances transferred in the first 90 days
  • 12 months 0% interest on money transfers made in the first 90 days
  • 5 Tesco Clubcard points for every £4 spent at Tesco
  • 1 Tesco Clubcard point for every £8 spent elsewhere
  • No annual fee

REPRESENTATIVE EXAMPLE

Representative rate 20.9% APR (variable)
Purchase rate 20.9% p.a. (variable)
Based on borrowing £1,200
Great for: Long 0% interest on purchases and rewards
3.5 stars question mark

Tesco Bank’s Purchases Card is a solid choice if you’re looking for a good period for 0% interest on your spending, as 18 months stacks up pretty well with competitors. The card gets even better if you’re a Tesco customer, since it’ll help you rack up Tesco points. You’ll get 5 Clubcard points for every £4 you spend at Tesco and 1 Clubcard point for every £8 that you spend elsewhere.

Read full review >

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 0% interest on purchases made over the first 18 months
  • 5 Clubcard points per £4 spent in Tesco and one point for every £8 spent elsewhere

REPRESENTATIVE EXAMPLE

Representative rate 20.9% APR (variable)
Interest rate on purchases 20.9% p.a. (variable)
Assumed credit limit £1,200

what we like

  • 0% interest on purchases made over the first 18 months
  • 5 Clubcard points per £4 spent in Tesco and one point for every £8 spent elsewhere
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    20.9%
  • INTRO OFFER:

    0% purchases for 18 months

KEY SCORES:

  • 4/5 Perks
  • 2.5/5Fees
  • 4/5APR

HIGHLIGHTS

  • 0% interest on purchases made over the first 18 months
  • 5 Clubcard points per £4 spent in Tesco and one point for every £8 spent elsewhere

REPRESENTATIVE EXAMPLE

Representative rate 20.9% APR (variable)
Interest rate on purchases 20.9% p.a. (variable)
Assumed credit limit £1,200
Great for: Building and rebuilding credit
3 stars question mark

If you are looking for a credit rebuilder card that offers you more than just access to credit, the Tesco Bank Foundation Card does just that. It offers free access to Noddle Premium services and Tesco Clubcard benefits, as well as a comparatively low APR and manageable credit limits.

Read full review >

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • No annual fee
  • Free service to help manage credit rating
  • Collect Tesco Clubcard points

REPRESENTATIVE EXAMPLE

Representative rate 27.5% APR (variable)
Interest rate on purchases 27.5% p.a. (variable)
Assumed credit limit £1,200

what we like

  • No annual fee
  • Free service to help manage credit rating
  • Collect Tesco Clubcard points
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    27.5%
  • INTRO OFFER:

    N/A

KEY SCORES:

  • 2/5 Perks
  • 2.5/5Fees
  • 4/5APR

HIGHLIGHTS

  • No annual fee
  • Free service to help manage credit rating
  • Collect Tesco Clubcard points

REPRESENTATIVE EXAMPLE

Representative rate 27.5% APR (variable)
Interest rate on purchases 27.5% p.a. (variable)
Assumed credit limit £1,200
Great for: Low standard APR plus rewards
3 stars question mark

The Tesco Bank Low APR Credit Card offers a very competitive interest rate as well as enticing rewards that could make it an appealing everyday card. The low standard APR might appeal to those who occasionally carry a balance short term, while the Tesco Clubcard points can provide a nice return on spend, especially for regular Tesco shoppers.

Read full review >

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • Low standard APR
  • 1 Tesco Clubcard point for every £4 spent at Tesco and 1 point for every £8 spent elsewhere
  • No annual fee

REPRESENTATIVE EXAMPLE

Representative rate 9.9% APR (variable)
Purchase rate 9.9% p.a. (variable)
Based on borrowing £1,200

what we like

  • Low standard APR
  • 1 Tesco Clubcard point for every £4 spent at Tesco and 1 point for every £8 spent elsewhere
  • No annual fee
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    9.9%
  • INTRO OFFER:

KEY SCORES:

  • 1/5 Perks
  • 3/5Fees
  • 5/5APR

HIGHLIGHTS

  • Low standard APR
  • 1 Tesco Clubcard point for every £4 spent at Tesco and 1 point for every £8 spent elsewhere
  • No annual fee

REPRESENTATIVE EXAMPLE

Representative rate 9.9% APR (variable)
Purchase rate 9.9% p.a. (variable)
Based on borrowing £1,200

Tesco Credit Cards

For over two decades you have been able to apply for a credit card alongside your weekly groceries. Tesco Bank started as a joint venture with Royal Bank of Scotland in 1997, before becoming a wholly owned subsidiary in 2008. In that time, it has become a regular feature on the best buy tables, known not only for its Clubcard rewards scheme but also for offering some of the most competitive interest-free periods around.

The bank’s portfolio is extensive when it comes to offers regarding purchases, balance transfers and money transfers. And while the focus is largely on those with good or excellent credit, Tesco bank also has an option for those with poor credit who are looking to improve their credit score.

What does Tesco do well?

What Tesco does well is interest-free introductory periods. If you are perusing the best buy tables at the weekend, or searching through the comparison sites, the likelihood is you will see Tesco Bank in the mix for cards with the longest introductory offers on purchases, balance transfers or money transfers. Whatever the longest interest-free period is on the market at the time, Tesco will almost always be within a few months of it.

The bank also offers ‘all round’ cards, which include multiple interest-free introductory offers. For example, you can have a Tesco credit card which offers you 0% on purchases and 0% on balance transfers. The length of the introductory periods will match (which is a plus), but will be shorter than the cards which specialise in just one or the other.

You will also find that rarity that is an interest-free period on money transfers. It’s not something that many providers have in their wheelhouse, so it makes Tesco credit cards stand out.

If you know the Tesco brand then you will know about its Clubcard loyalty scheme. You may already be a member, and therefore can use your Tesco card to earn yourself even more points, or you may be new to the scheme altogether. Either way, your Tesco credit card can act as your Clubcard.

When spending with your Tesco credit card you can earn a higher yield of points for spending in store, or a lower yield when spending elsewhere. Clubcard points are then turned into vouchers every three months which can be used on your shopping or on fuel. Or you have the option to ‘boost’ the value of the voucher by using it with Clubcard Reward Partners which include the likes of Pizza Express and Legoland. The latter can be a great option, since it stretches your points much further.

What you get in a Tesco credit card is access to a popular and wide-reaching reward points scheme, as well as interest-free introductory offers galore. And let’s not forget, Tesco also caters to those with a less than perfect credit score. Its credit builder credit card offers borrowers the ability to improve their credit score through responsible borrowing, while also offering access to the Clubcard points scheme in line with its core Tesco card offering.

Check out our new credit card repayment calculator

Where does Tesco fall down?

While you may be interested in the interest-free offers, always check the small print. The bank does include balance transfer and money transfer fees on some of its credit cards and while the balance transfer fee is in line with the market average, the money transfer fee is slightly higher. Added to that you are likely to come across a foreign transaction fee in the mix as well.

One other area Tesco credit cards fall down is the reward scheme. While the Clubcard scheme may be well known, that doesn’t necessarily mean that you will be getting the most value for your money by using your Tesco credit card to earn points. You have to spend a reasonable amount in order to earn yourself a decent number of points, and the rewards points yield is very much skewed towards spending in-store or online with Tesco. The option to drastically boost your points value helps, but only if you’re a fan of the brands that partner with Tesco.

What will you find in Tesco’s card portfolio?

If you are looking for interest-free offers then Tesco’s portfolio is a good place to look. It has something for everyone with 0% purchases, 0% balance transfers, 0% money transfers and dual offer cards. So it’s worth having a look through and see which combination would suit your borrowing needs best.

Tesco also caters for those who are just looking for a low interest rate credit card. Or for those who don’t have a squeaky clean credit score, its foundation credit card has low credit limits to help you keep on top of your borrowing. It also gives you free and unlimited access to your credit report through Tesco Bank CreditView.

If you are looking for a big rewards yield or cashback, Tesco is less likely to stump up the goods. It does have its Clubcard scheme, but as mentioned, this is fairly limited in terms of how many points you can earn for how much you spend. If you are a very big Tesco shopper and frequent Tesco’s partners – and therefore can take advantage of the points boost – then the story may be different for you.

Similarly, if it is travel benefits or insurance options you are after, Tesco has chosen to keep it simple and focus on its introductory offers and Clubcard points instead.

What do you need to remember?

It is useful to know that you can hold up to two Tesco Bank credit cards. You can apply for the second card as long as you haven’t applied for a Tesco Bank credit card in the last month. And much like other cards with promotional rates, if you fail to make your minimum payments then you will lose your interest-free offers.

How to apply for a Tesco card

You can apply online through the Tesco Bank website, and you will receive a response in under 10 minutes.

The bank requires that you have a minimum annual income of £5,000, are 18 years of age and are a UK resident. You will not be eligible if you already hold a Tesco Bank credit card or have applied for one in the last month.

Tesco Bank asks that you have a good credit score, unless you are applying for its credit builder credit card, which is designed for applications with a poor credit history.


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