In this article, we review the Tesco Balance Transfer credit card, which has attractive introductory offers on both balance transfers and money transfers.
Key facts about the Tesco Balance Transfer credit card
Best for: Those happy to shoulder a fee to take advantage of the longer-than-average interest-free period on balance transfers.
Introductory offer: Interest-free for 26 months on balance transfers, 12 months on money transfers.
Representative APR: 20.9% variable.
Fees: 2.99% balance transfer fee, 3.99% money transfer fee.
- Perks: You can collect 5 Tesco Clubcard points for every £4 spent at Tesco and for every £8 spent elsewhere.
Pros of the Tesco Balance Transfer credit card
- The 26 months interest-free on balance transfers deal is one of the best on the market.
- It also allows money transfers and the APR after the interest-free periods is relatively low.
- It has the additional perk of allowing you to collect Tesco Clubcard points.
Cons of the Tesco Balance Transfer credit card
- You could be offered a shorter interest-free period on balance transfers instead of the full 22 months, depending on your circumstances.
- The fees for both balance transfers and money transfers are quite high.
- You can't make a transfer from any other Tesco Bank Credit Cards.
How to manage your payments on the Tesco Balance Transfer credit card
Cardholders can manage their account through the Tesco Bank mobile banking app.
How to apply for the Tesco Balance Transfer credit card
Alternatives to the Tesco Balance Transfer credit card
- Tesco All Round credit card
- Capital One Balance Transfer credit card
- MBNA 0% Transfer and Purchase credit card
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