Tesco Balance Transfer credit card review

2 min Read Published: 10 Nov 2020

Tesco Balance Transfer card review 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 22 months on balance transfers, 12 months on money transfers
  • Representative APR: 19.9% variable
  • Fees: 2.98% balance transfer fee, 3.94% money transfer fee
  • Perks: You can collect 1 Tesco Clubcard point for every £4 spent at Tesco and for every £8 spent elsewhere

Pros of the Tesco Balance Transfer credit card

  • The 22 months interest-free on balance transfers is one of the best deals in 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 16 or 19 months interest-free 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

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

As there isn't an eligibility checker, check out the criteria on the product page before making your application online 

Alternatives to the Tesco Balance Transfer credit card

For other options, read our article "Best credit card in the UK"

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