Tesco Balance Transfer credit card review

2 min Read Published: 22 Feb 2024

Tesco Balance Transfer credit cardIn 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 up to 22 months on balance transfers, up to 9 months on money transfers.
  • Representative APR: 22.9% variable.
  • Fees: 2.75% balance transfer fee, 3.99% money transfer fee.
  • Perks: You can collect 5 Tesco Clubcard points for every £4 spent at Tesco and 1 point for every £8 spent elsewhere.

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  • 26.5% APR Representative (variable)

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Pros of the Tesco Balance Transfer credit card

  • The 22 months interest-free on balance transfers deal is one of the best on the market.
  • It also comes with 9 months interest-free on 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 financial circumstances.
  • There are fees for both balance transfers and money transfers.
  • 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 find out which credit card is best for you

Comparing different credit cards is a key part of getting the best deal for you. Money to the Masses has helped to simplify this process by partnering with Creditec*, an online comparison service. You do not need to trawl through countless different provider websites hunting for the best cashback or lowest fees, as Creditec’s personalised search results will show you the key details you need to know in one place. Your tailored list will also feature the cards that you are more likely to be accepted for, cutting down the chance of any applications you make being rejected. Your search results are built using a soft credit search, so there will be no damage to your credit score. You can start your search by clicking this link*.

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

 

 

If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product.