Tesco Bank Foundation
Representative APR
29.9% APR (variable)
Purchases
29.9% (variable) p.a.
Balance Transfers
29.95% (variable) p.a. (3.99% fee)
Account Fees
£0
Representative Example:
At an assumed credit limit of £1,200, with a purchase rate of 29.95% (variable) p.a., most accepted customers get a rate of 29.9% APR (variable).
Editor’s Note: While we always aim to give you accurate product information at the point of publication, rates, prices, terms and promotions can always be changed by the provider afterwards and without notice, so be sure to double check first.
Our Verdict
This card comes with a lower APR than other credit builder cards. It also offers you an opportunity to earn points for spending at Tesco, Tesco fuel (excluding Esso) and even outside Tesco. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points. The maximum credit limit is subject to status and up to £1500.
Important: The information contained in this table summarises key product features and is not intended to replace any terms and conditions from the card issuer.
Product Features & Benefits
| Issuer | Tesco Bank |
|---|---|
| Network | Mastercard |
| Primary Category | Credit Building |
| Loyalty Scheme | Clubcard |
| Incentive on opening | When you earn points, you can exchange them for vouchers to save on groceries and fuel or you can get twice the value when using them with Tesco Reward Partners. |
| Cashback/Rewards (if applicable) | 5 points per £4 spent (£4 minimum) in Tesco, 1 point for every £4 spent on Tesco fuel (excluding Esso) plus 1 point per £8 spent (£8 minimum) outside Tesco. 100 points = £1 in vouchers. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points. |
| Account Fee | £0 |
| Purchases | 29.9% (variable) p.a. |
| Purchases Interest Free Period | 56 days |
| Balance Transfers | 29.95% (variable) p.a. (3.99% fee) |
| Balance Transfer Fee | 3.99% |
| Cash Advances | 39.94% (variable) p.a. (fees apply) |
| Minimum Credit Limit | £ 250.00 |
| Maximum Credit Limit | Subject To Status: £1,500 |
Fees & Charges
| Account Fee | £0 |
|---|---|
| Late Payment | £ 12 |
| Returned Payment | £ 0 |
| Exceed Limit | £ 12 |
| Duplicate Statement | £ 0 |
| Replacement Card | £ 0 |
| Trace Fee | £ 0 |
| Cash Withdrawal Fee | 4% |
| Cash Withdrawal Minimum Charge | £ 3 |
| Foreign Usage EU | 2.75% |
| Foreign Usage World | 2.75% |
Application Requirements
| Availability | Available to new customers. |
|---|---|
| Minimum Income | £ 5,000 |
| Minimum Age | 18 |
| Residency | Permanent resident in the UK. |
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34.4% Representative APR (variable)
Mintify Limited, trading as Mintify, is an Introducer Appointed Representative of Creditec Limited who acts as a credit broker, not a lender.
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