In this guide, we will discuss Tesco credit cards, their different features and how to ensure you get the best credit card for your own needs.

Tesco credit cards

Tesco has a variety of credit cards which may be suitable to you based on your circumstances.

The Tesco credit cards may be able to help you if you are looking for:

A balance transfer credit card

The Tesco balance transfer credit card helps you transfer a balance you may have from another credit card to your Tesco credit card.

A purchase credit card

With a Tesco purchase credit card, you can make regular purchase transactions.

A money transfer credit card

With a Tesco money transfer credit card you can transfer money from your Tesco credit card to your bank account.

A credit builder card

With a Tesco credit builder card, you will have the opportunity to build your credit score by making regular on-time credit card repayments.

What is a Tesco credit card?

A Tesco credit card is a credit card which is offered by Tesco Bank This includes balance transfer cards, purchase credit cards and money transfer cards.

Is Tesco credit card Visa or Mastercard?

A Tesco credit card is issued by Mastercard. You should see the insignia of Mastercard on your Tesco credit card.

What are the benefits of a Tesco credit card?

Tesco has different credit cards which will have different benefits.

The Tesco balance transfer card will have the benefit of allowing you to transfer a balance from your current credit card to your Tesco credit card.

Can I have 2 Tesco credit cards?

Yes, you can have up to two Tesco credit cards.  If you already have a Tesco credit card then you can apply for a second Tesco credit card as long as you don’t currently have a Tesco credit card application pending or made a Tesco credit card application within the last month.

Is a Tesco credit card good?

Tesco may be seen as a good credit card if it is able to help you with your financial problems.

The Tesco credit card has varying forms such as the balance transfer credit card, the purchase credit card and the money transfer credit card which could be good options for you dependant on your financial circumstances.

Where can I use my Tesco credit card?

You can use your Tesco credit card whenever you want to as it is accepted in millions of Mastercard terminals but remember if you use your credit card at an ATM to withdraw money then you may be charged some fees. You can also use your Tesco credit card online.

Types of Tesco credit card

Tesco credit Card name0% on purchases-Terms apply0% on balance transfers-Terms apply0% on money transfers-Terms applyTesco Clubcard points-Terms applyNotes
Purchases Card- 
A 0% purchase Tesco credit card means you wont be charged any interest on your purchases for 26 months as long as you continue to make your monthly minimum credit card repayments.
Up to26months3months. Balance transfer fee 2.9%3months. Money transfer fee 3.94%One point for every £4 spent in TescoTesco bank says may offer you a 0% interest period of 20 or 14 months instead,depending on your individual circumstances.
Representative example: 19.9%APR representative (variable)Assumed credit limit £1,200. Interest rate on purchases 19.9% p.a. (variable
0% Balance Transfer Fee Card-
With a 0% balance transfer card you can move your credit card balance from another credit card to your Tesco credit card at an interest of 0% for 18 months.  You also have 3 months at which you can make purchases at 0% interest rate.
For you to benefit from the 0% balance transfer rate you must transfer your credit card balance within 90 days of opening your Tesco credit card.
If you fail to make your minim repayments then the introductory offer may be withdrawn
3 monthsUp to18months. Balance transfer fee 0%Up to18months. Money transfer fee 3.94%One point for every £4 spent in TescoTesco Bank says they may offer you a 0% interest period of 15 or 12 months instead, depending on your individual circumstances.
Representative example: 19.9%APR representative (variable)Assumed credit limit £1,200. Interest rate on purchases 19.9% p.a. (variable)
Balance Transfer Card- 
With a 0% balance transfer card you can move your credit card balance from another credit card to your Tesco credit card at an interest of 0% for 18 months.  You also have 3 months at which you can make purchases at 0% interest rate.
For you to benefit from the 0% balance transfer rate you must transfer your credit card balance within 90 days of opening your Tesco credit card.
If you fail to make your minim repayments then the introductory offer may be withdrawn
There is a balance transfer fee with this card.
3monthsUp to28months. Balance transfer fee 2.98%Up to28months. Money transfer fee 3.94%One point for every £4 spent in TescoTesco Bank says they  may offer you a 0% interest period of 22 or 16 months instead, depending on your individual circumstances.
Representative example: 19.9%APR representative (variable)Assumed credit limit £1,200. Interest rate on purchases 19.9% p.a. (variable)
All Round Card-
For you to benefit from the 0% balance transfer rate you must transfer your credit card balance within 90 days of opening your Tesco credit card.
If you fail to make your minim repayments then the introductory offer may be withdrawn
12months12months. Balance transfer fee 0%12months. Money transfer fee 3.94%One point for every £4 spent in TescoRepresentative example: 19.9%APR representative (variable)Assumed credit limit £1,200. Interest rate on purchases 19.9% p. a. (variable)
All Round Card-
For you to benefit from the 0% balance transfer rate you must transfer your credit card balance within 90 days of opening your Tesco credit card.
If you fail to make your minim repayments then the introductory offer may be withdrawn
There is a balance transfer fee for this Tesco credit card.
15months15months. Balance transfer fee 0.85%15months. Money transfer fee 3.94%One point for every £4 spent in TescoRepresentative example: 19.9%APR representative (variable)Assumed credit limit £1,200. Interest rate on purchases 19.9% p. a. (variable)
Money Transfer Card-
Transfer money from your credit card to your bank account with no interest to pay on the amount transferred for up to 28 months.


For you to benefit from the 0% balance transfer rate you must transfer your credit card balance within 90 days of opening your Tesco credit card.
If you fail to make your minim repayments then the introductory offer may be withdrawn
3monthsUp to28months. Balance transfer fee 2.98%Up to28months. Money transfer fee 3.94%One point for every £4 spent in TescoTesco bank may offer you a 0% interest period of 22 or 16 months instead depending on your individual circumstances.

Representative example: 19.9%APR representative (variable)Assumed credit limit £1,200. Interest rate on purchases 19.9% p.a. (variable)
Foundation Card-
The foundation credit card is for those looking to build their credit score.  These are usually people with bad credit, little or no credit history.
You can set up email or text alerts to help you avoid missing repayments. Lower credit limits starting from £250.
N/AN/AN/AOne point for every £4 spent in TescoRepresentative example: 27.5%APR representative (variable)Assumed credit limit £1,200. Interest rate on purchases 27.5% p.a. (variable)

Managing your Tesco credit card

You can sign up to manage your credit card here

You will need:

Your first name

Your last name

Your credit card number

Your date of birth

Your postcode

Apple pay

The Tesco credit card can be used on apple pay but this is only for the master cards and not the visa Tesco credit cards.

To add your Tesco Credit Card to your iPhone, open the Wallet app and follow the instructions. You’ll then receive a one-time passcode from Tesco Bank. You’ll need to use this code within 3 hours if you have a Credit Card. Once you enter the passcode, you’re ready to use your Tesco credit card.

Key points on your Tesco credit card

Tesco mentions the below key points which you need to take into consideration when using any of the Tesco credit cards

“If you have 0% interest rates, these apply from the day you opened your account

If you have 0% interest periods, your introductory rates will be withdrawn if we don’t receive your minimum payment on time and in full

Your credit limit and APR may vary subject to your individual circumstances

You can transfer up to 95% of your available credit limit. You won’t be able to transfer a balance between Tesco Bank Credit Cards.

Our credit facilities are available to over 18s and UK residents only, subject to status

For money transfers: purchases made using money that has been transferred will not benefit from protection under Section 75 of the Consumer Credit Act 1974. Section 75 protection is only available if you make the purchase with your credit card (not all purchases are eligible for this protection).

Foundation Credit Limit Increases: You will be considered for regular credit limit increases if you stay within your credit limit, make your minimum payments on time and manage your account well. You also need to manage any other credit products you have, such as loans and other credit cards well.”

Collecting Tesco clubcard points with your Tesco credit card

“It’s simple: use your credit card wherever you see the Mastercard logo. You’ll collect points on almost everything you buy.

You collect 1 point for every £4 spent (£4 minimum) in Tesco and 1 point for every £8 spent (£8 minimum) outside Tesco in each purchase transaction.

There are some products at Tesco you can’t collect points on. Find out more about collecting points at the Tesco Clubcard website. Clubcard points also can’t be collected on Tesco Travel Money purchases.

Clubcard points collection rates are subject to change.

You must have available credit.

The Tesco Clubcard Scheme is administered by Tesco Stores Limited, Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, AL7 1GA, who are responsible for fulfilling points.” -Tesco

What to consider when getting your Tesco credit card?

Whilst the Tesco credit card may be right for you, there could also be other potential credit cards which suit you better. It is always advisable to use a credit card eligibility checker 

Which provides you with all the credit cards you may be eligible for outside of the Tesco credit card.

When comparing multiple credit cards; below are the things you should look out for before applying.

Eligibility

Each card issuer will have its own lending criteria that you will need to meet before they will provide you with an offer of credit. There are now credit card eligibility checker platforms which let you know which credit cards you are eligible for and which you have a high probability of getting on application. 

Most credit card providers now have their own credit card eligibility systems in place which will let you know if you will be approved for a credit card with them or not. These tools use a soft credit check t pull your credit file data and hence does not leave any footprints which are visible to the public or harm your credit score.

You should avoid applying for a credit card if you are not confident you will be accepted as rejections for credit could damage your credit score and history. This may then affect your ability to get further credit in the future.

Interest rates

When getting a credit card, the interest rates on the credit card are a very important factor and you should always look out for the APR figure. The interest rates on the credit card are the rates that will be charged on any outstanding credit card balance which you carry over from one month to another.If you pay your credit card balance in full each month then you will not have any interest to pay.

Credit cards typically come with up to 55 interest-free days on purchases if you don’t carry a balance month-to-month.

Credit limits

You should look at the credit Credit limits when choosing a credit card provider as the credit card limits will determine how much you can spend on your credit card. Most credit card providers may offer you a credit limit increase if you can show good credit behavior over a few months.

Rewards and perks

Credit card providers offer various rewards and perks but usually these are reserved for applicants with high credit scores.

Fees

Some credit card providers will have annual fees on their credit cards but these are usually for credit cards with high credit card limits and lots of rewards or perks.

You should always check what fees are attached to your credit card.These can include annual or monthly account fees, cash advance (withdrawing cash using the card) fees, overseas transaction fees and others.

How to get your Tesco credit card

To get your Tesco credit card, check to see if you have a credit score and history first.

If you are unsure of what your credit score is then you should check your credit score from the four credit bureaus in the UK: Experian, Crediva, Equifax and Transunion.

Some of these credit bureaus may charge you a fee to view your credit report so what you can alternatively do is request a statutory credit report which is a free credit report which each credit bureau must provide to you upon you requesting it.

Alternatively you can also use credit score services such as Checkmyfile and clearscore to check your credit report.

Once you have done this you should then check on a credit card eligibility platform to see what credit cards you are eligible for and then apply for the best credit card. This may be the Tesco credit card or it could be another credit card from a different provider which suits you better.

In this brief guide we discussed theTesco credit card. If you have any questios or comments please let us know.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.