In this article, we review the Tesco Bank Purchase credit card, which offers up to 23 months interest-free on purchases.
Key facts about the Tesco Bank Purchase credit card
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Best for: Those looking to spread the cost of a large purchase over an extended period.
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Introductory offer: Interest-free for up to 14 months on purchases.
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Representative APR: 22.9% variable.
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Fees: No annual fee.
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Perks: Collect 5 Tesco Clubcard point for every £4 spent at Tesco and for every £8 spent elsewhere.
Pros of the Tesco Bank Purchase credit card
- The card has a competitive introductory offer on purchases
- It has the added benefit of allowing people to collect Tesco Clubcard points with most purchases made with the card.
- The APR stacks up well against similar cards, although it is worth paying the balance in full each month to continue to benefit from interest-free spending after the introductory offer has come to an end.
Cons of the Tesco Bank Purchase credit card
- Although it can offer up to 14 months, you may be offered a shorter interest-free period of 10 or 12 month depending on your credit score.
- There is a 2.99% balance transfer fee and 3.99% money transfer fee during the introductory period, reverting to 3.99% for both after that time.
- The credit limit could be as low as just £100.
How to manage your payments on the Tesco Bank Purchase credit card
Cardholders can manage their account through the Tesco Bank mobile banking app.
How to find out which credit card is best for you
Money to the Masses has partnered with Creditec* to help find the best credit card for you. By entering a few basic details, you will be able to see a tailored list of the best credit cards based on your individual circumstances. You can sort your results by the feature that interests you most, such as by card type, total fees or cashback offered. On top of this, the credit cards that have been pre-approved for you will be highlighted, meaning you can be more confident that you will be accepted if you apply. (Pre-approval does not guarantee acceptance and is still subject to additional lender checks). Your details will be used to conduct a soft credit search often referred to as an eligibility check, which means your credit score will not be affected. Click on this link to get started*.
How to apply for the Tesco Bank Purchase credit card
As there isn't an eligibility checker, check out the qualifying criteria on the product page before starting your online application.
Alternatives to the Tesco Bank Purchase credit card
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