Tesco Bank Low APR
Representative APR
10.9% APR (variable)
Purchases
10.94% (variable) p.a.
Balance Transfers
11.46% (variable) p.a. (3.99% fee)
Account Fees
£0
Representative Example:
At an assumed credit limit of £1,200, with a purchase rate of 10.9% (variable) p.a., most accepted customers get a rate of 10.9% 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
Most low interest credit cards don’t offer rewards, but the Tesco Bank Low APR credit card is an exception. It features a competitive APR of 10.9%, no annual fees, and allows cardholders to collect Clubcard points on their spending. 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 | Rewards |
| Loyalty Scheme | Clubcard |
| Incentive on opening | 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. Must have available credit to earn points. 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. |
| Cashback/Rewards (if applicable) | No cashback scheme |
| Account Fee | £0 |
| Purchases | 10.94% (variable) p.a. |
| Purchases Interest Free Period | 56 days |
| Balance Transfers | 11.46% (variable) p.a. (3.99% fee) |
| Balance Transfer Fee | 3.99% |
| Cash Advances | 24.94% (variable) p.a. (fees apply) |
| Minimum Credit Limit | £ 100.00 |
| Maximum Credit Limit | Subject To Status |
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)
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