Tesco Bank Foundation

4.3

OUR RATING

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).

4.3

OUR RATING

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. Tesco banking has transferred to Barclays. Barclays will continue to use the Tesco Bank brand on all existing Tesco Bank banking products through a long-term strategic partnership with Tesco. If your application is successful, there’ll be no immediate changes to how you use and manage your account on a day-to-day basis.

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	Collect Clubcard points almost every time you spend in and out of Tesco
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%