Tesco purchases interest free period on credit cards warning - HotUKDeals
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Tesco purchases interest free period on credit cards warning

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Just a warning for anyone who has a tesco credit card with the interest free offer for tesco purchases until Jan 2017. The offer only really applies if all your purchases are made at tesco. I made pu… Read More
alex12 Avatar
4m, 1w agoPosted 4 months, 1 week ago
Just a warning for anyone who has a tesco credit card with the interest free offer for tesco purchases until Jan 2017. The offer only really applies if all your purchases are made at tesco. I made purchases from other stores and some from tesco and when i had my statement it listed them separately so I paid the outstanding balance off for the other purchases deducting the interest free ones from the balance but was charged interest despite paying by due date. Tesco say that unless you pay the full balance off, including the interest free offer tesco ones, you will be charged interest even when paying the other balance in full, they say thats what their terms state, eg you are charged interest if you dont pay the balance in full. This means unless all purchases are made under the offer, the offer is effectively useless, especially if you normally pay the full balance to avoid any interest as I do.
I have managed to get the interest refunded as a goodwill gesture but I am pretty savvy with money matters and this one has me baffled. I have had other cards where you buy now pay later on some items, always paying the other items off in full and have never been charged interest because you have a balance outstanding on interest free items, doesnt make any sense to me!
Hope this helps some to not get sucked into using this so called deal!
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alex12 Avatar
4m, 1w agoPosted 4 months, 1 week ago
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#1
I had 1 last year and I only had to make the minimum payment every month with no interest and I never even used it at tesco
1 Like #2
These offers are always set to fail as they start on a set date ie 1/11 but for most customers this is part way through their statement period so becomes impossible for some to work out. What makes this worse is it tesco trxs only! We see lots of complaints in work due to these offers!
1 Like #3
With savings rates this low I don't bother anymore. Just happy with my TSB cashback one and my 'No issues ever' MBNA card.

My advice is now you have your interest back just use it in Tesco and pay it off every month (as it seems you normally do) :)
2 Likes #4
Thanks for the warning - I had this offer and I did wonder how it was going to work but I paid off all my other purchases this month just leaving the Tesco transaction balance. Final payment by date is tomorrow. Just went on and paid it off, hoping it clears in time.
I think this is pointless - why offer something that no one (who usually pays their balance in full) can take advantage of?!
Thanks, tho, OP
1 Like #5
sooziewoo
Thanks for the warning - I had this offer and I did wonder how it was going to work but I paid off all my other purchases this month just leaving the Tesco transaction balance. Final payment by date is tomorrow. Just went on and paid it off, hoping it clears in time.
I think this is pointless - why offer something that no one (who usually pays their balance in full) can take advantage of?!
Thanks, tho, OP


That's one of the tricks that all banks play - dangle a carrot and those who take interest will fall into their trap.
#6
to be fair, this isn't hidden anywhere. I don't have the CC and I haven't read through the small print but I did know it only applied to purchases made IN Tesco. Don't complain just because you didn't read it.
5 Likes #7
japes
to be fair, this isn't hidden anywhere. I don't have the CC and I haven't read through the small print but I did know it only applied to purchases made IN Tesco. Don't complain just because you didn't read it.


you obviously didnt read the OPs post. they know the interest free is tesco purchases only, but what it doesnt make clear is that all transactions on your statement can only be tesco, regardless of whether you pay the other charges or not.

thanks OP.
3 Likes #8
OMG i thought i was the only one.....OP could you advise how you got the interest back I have been a customer for years and have always paid early and in full and EXACTLY the same happened to me this month resulting in £61 of interest they are refusing to refund, I am fuming as like you said it does not make it clear. I feel i have been duped RRRRRRRR
3 Likes #9
Thanks for the warning OP, I was going to do exactly the same as you - pay off the non-Tesco purchases but leave the Tesco ones on there to take advantage of this "offer", but now I'll pay everything off.
I think a lot of people are going to get caught out by this.
Thanks again.

Edited By: Delbert Grady on Dec 17, 2016 14:46
#10
sooziewoo
Thanks for the warning - I had this offer and I did wonder how it was going to work but I paid off all my other purchases this month just leaving the Tesco transaction balance. Final payment by date is tomorrow. Just went on and paid it off, hoping it clears in time.
I think this is pointless - why offer something that no one (who usually pays their balance in full) can take advantage of?!

Thats what i told them, its effectively useless unless you only make purchases from tesco that are covered under the offer!
Thanks, tho, OP
#11
japes
to be fair, this isn't hidden anywhere. I don't have the CC and I haven't read through the small print but I did know it only applied to purchases made IN Tesco. Don't complain just because you didn't read it.

No point to the offer though unless it works like other cards who have a buy now pay later offer that dont charge interest if you dont pay off the BNPL goods aswell if you have to pay interest on the others even if you pay in within the normal interest free period of a credit card.
#12
willamy02
OMG i thought i was the only one.....OP could you advise how you got the interest back I have been a customer for years and have always paid early and in full and EXACTLY the same happened to me this month resulting in £61 of interest they are refusing to refund, I am fuming as like you said it does not make it clear. I feel i have been duped RRRRRRRR
They told me at first they couldnt refund so I said I wanted to make a complaint about how this is not made clear on the statement, I then spoke to a Manager, told him I worked for Citizens Advice (which I do) and said I always pay in full and only part paid due to the supposed offer on the tesco purchases, after half hr of telling him it was a ridiculous offer, he checked back over 12 months and agreed to refund the interest charges based on that I usually pay in full, he did say my next statement would also show interest but they would refund that too provided i paid off the next amount in full minus the added interest.
2 Likes #13
Delbert Grady
Thanks for the warning OP, I was going to do exactly the same as you - pay off the non-Tesco purchases but leave the Tesco ones on there to take advantage of this "offer", but now I'll pay everything off.
I think a lot of people are going to get caught out by this.
Thanks again.
Youre welcome, thats why I posted, I am pretty good with my money and do read the terms and conditions but when you get an offer saying tesco purchases are interest free you do tend to assume that as long as you pay off the remaining balance (eg not the interest free ones) then you would not pay interest so long as you paid within the normal interest free period on a card. I have an argos card and when they have offers I have had interest free periods on some goods and not others and never been charged if I havent paid the whole balance. Good marketing ploy from tesco I have to say, it encourages people to spend more in their stores thinking you have longer to pay and then by the time you realise that only applies if all your purchases come under the offer due to interest being added, they are making a fortune. They did say they were giving feedback on the offer so the more people who ring and complain may at least affect any clarity of terms in the future.
#14
faulkner893
I had 1 last year and I only had to make the minimum payment every month with no interest and I never even used it at tesco
Yes, they tried to get me to apply for another card that was completely interest free so I could do that but told them to forget it after this fiasco, will take my business elsewhere now.:)
5 Likes #15
UPDATE for all affected customers
I have just spoken to Tesco bank and the advisor told me "because of the offer wording they ARE going to refund" and as with OP post will also refund any charges next month. She also advised that they had to send a further email to customers because of the high amount of calls about the wording but not all customers may have got it !!!!
#16
Thanks

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