In this article, we review the Tesco Bank Purchase credit card, which offers up to 20 months interest-free on purchases, as well as having introductory offers on balance and money transfers.
Key facts about the Tesco Bank Purchase credit card
Best for: Those looking to spread the cost of a large purchase over an extended period.
Introductory offer: Interest-free for up to 20 months on purchases and 3 months for balance and money transfers.
Representative APR: 20.9% variable.
Fees: No annual fee.
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, coupled with a shorter offer on balance and money transfers.
- 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 20 months, you may be offered a shorter interest-free period 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 apply for the Tesco Bank Purchase credit card
Alternatives to the Tesco Bank Purchase credit card
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