0% Interest on balance transfers for 40 months with 2.69% fee @ Tesco Bank
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0% Interest on balance transfers for 40 months with 2.69% fee @ Tesco Bank

93
Found 7th Apr 2016
Apologies if this has already been posted but just got the email and this looks like a cracking deal really. Last balance transfer card i got was 36 months I think with Barclay's.
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Thanks for the post. Do you know how much they charge to transfer a balance?
0% interest on balance transfers for the first 40 months with a 2.69% fee
Already posted a while back, and no good if you have a balance over £5000, at least it wasnt for me.
32 months 0% interest and 1.69% fee from virgin
Just wanted to advise, I applied for 2 new cards last week and got a Bank of Scotland one approved and delivered in just a few days. I also applied for This tesco card with a balance transfer and it was approved well over a week ago but still no sign of transfer or card, just thought I would mention in case anyone is in a desperate hurry to get a balance transferred.
21 months 0% interest and 0% fee also available, with £31.50 topcashback:
hotukdeals.com/dea…458
Edited by: "bloooo" 7th Apr 2016
Tesco will send you papers to sign and return to them.
Reminder to check the cashback sites.
£30ish topcashback applying for Tesco credit cards (certainly on that 21m zero fee one).
bloooo

21 months 0% interest and 0% fee also … 21 months 0% interest and 0% fee also available:http://www.tescobank.com/credit-cards/low-fee/index.html


Now thats more like it!

Both Santander Credit Cards are 0% Interest Free Period and 0% fee at the moment too
robcro

Now thats more like it!Both Santander Credit Cards are 0% Interest Free … Now thats more like it!Both Santander Credit Cards are 0% Interest Free Period and 0% fee at the moment too



You also get club card points with Tesco wherever you shop, albeit very tiny amounts but still will add up if you do a lot of tesco shopping
Edited by: "kiish" 7th Apr 2016
Had a tesco credit card a few years back and closed how long does it have to be before you can open a new card to get this offer again.
kiish

You also get club card points with Tesco wherever you shop, albeit very … You also get club card points with Tesco wherever you shop, albeit very tiny amounts but still will add up if you do a lot of tesco shopping


You dont want to be spending on a card you got to transfer a balance too though.
RAFAVDV

You dont want to be spending on a card you got to transfer a balance too … You dont want to be spending on a card you got to transfer a balance too though.



Whoops thought you mentioned the 21mo 0% purchase card they offer, my bad you don't certainly don't want to spend on balance trans card
Very hot this. I swapped over to this a couple of weeks ago.
I signed up to a TSB card with 10 months balance transfer (I know, just over a years credit history n'all), they charged 2.69% then refunded £18, might be worth considering that
''You also get club card points with Tesco wherever you shop, albeit very tiny amounts but still will add up if you do a lot of tesco shopping'' .

Does anyone do a lot of shopping at Tesco anymore ?
Just a warning about cashback - I had quidco cashback tracked for this last November and am still waiting for it to be confirmed 5 months later.
Thanks OP. Just signed up and got accepted with just over £5000 credit limit, which is a lot more than I asked for. This will now save me £35 a month interest for the next 21 months!!
RAFAVDV

You dont want to be spending on a card you got to transfer a balance too … You dont want to be spending on a card you got to transfer a balance too though.



I thought the rules were changed so the highest cost debt gets paid off first.

If there is any unused limit after the transfers you could therefore spend on the card aswell (especially if it also offers a 0% period on purchases). Although I guess you have the added risk of mistakenly going over your limit, in which case most providers remove promotions (i.e. your 0% on BT's).

If you shop regularly at Tesco's it is worth keeping the card at the end of the period (once you've paid off your BT) for the points. Just ask them to significantly lower the limit so its inline with your Tesco spend.
Number6

Just a warning about cashback - I had quidco cashback tracked for this … Just a warning about cashback - I had quidco cashback tracked for this last November and am still waiting for it to be confirmed 5 months later.


Weird, mine was payable before the credit card even arrived.
Bootcutboy

Just wanted to advise, I applied for 2 new cards last week and got a Bank … Just wanted to advise, I applied for 2 new cards last week and got a Bank of Scotland one approved and delivered in just a few days. I also applied for This tesco card with a balance transfer and it was approved well over a week ago but still no sign of transfer or card, just thought I would mention in case anyone is in a desperate hurry to get a balance transferred.


Also it usually takes 48 hours to process a transfer anyway, so that adds to the delay... however I got one of these cards recently and although I despise Tesco the card and service is excellent. I got mine within 4 days (applied on the Monday morning) and all sorted ....
listerdude

Tesco will send you papers to sign and return to them.


I didn't get any papers at all - I applied on-line including the T's and C's and digital signature, sorted - card and pin came separately within 4 days!
Edited by: "cheekyfrazzleboi" 7th Apr 2016
RAFAVDV

You dont want to be spending on a card you got to transfer a balance too … You dont want to be spending on a card you got to transfer a balance too though.


Exactly, defeats the object of having a BT Card - the idea is to swap all the interest balance amounts from cards to this one that is 0% and then leave it in a drawer somewhere lol
Mentos

I thought the rules were changed so the highest cost debt gets paid off … I thought the rules were changed so the highest cost debt gets paid off first.If there is any unused limit after the transfers you could therefore spend on the card aswell (especially if it also offers a 0% period on purchases). Although I guess you have the added risk of mistakenly going over your limit, in which case most providers remove promotions (i.e. your 0% on BT's).If you shop regularly at Tesco's it is worth keeping the card at the end of the period (once you've paid off your BT) for the points. Just ask them to significantly lower the limit so its inline with your Tesco spend.



Here's where I had a surprise the last time I dealt with Tesco and a balance transfer. What isn't mentioned is that when you take a balance transfer you NO LONGER HAVE A GRACE PERIOD on purchases to your card. I bought things each month and kept getting interest charges even though I paid both the minimum for the balance transfer and paid off all new purchases. The representative explained to me that you lose the normal grace period (?42 days?) that you usually have when making purchases. Of course this is how Tesco is making up for low rates they are getting for the actual balance trasfer.

Just sayin'

Eph
ephaedrus

Here's where I had a surprise the last time I dealt with Tesco and a … Here's where I had a surprise the last time I dealt with Tesco and a balance transfer. What isn't mentioned is that when you take a balance transfer you NO LONGER HAVE A GRACE PERIOD on purchases to your card. I bought things each month and kept getting interest charges even though I paid both the minimum for the balance transfer and paid off all new purchases. The representative explained to me that you lose the normal grace period (?42 days?) that you usually have when making purchases. Of course this is how Tesco is making up for low rates they are getting for the actual balance trasfer. Just sayin'Eph



Interesting, never realised that as I haven't bothered with BT's since they introduced fee's several years back. Might look into them again now 0% fee's are back, although for me flipping between 0% purchase cards works well enough.
ephaedrus

Here's where I had a surprise the last time I dealt with Tesco and a … Here's where I had a surprise the last time I dealt with Tesco and a balance transfer. What isn't mentioned is that when you take a balance transfer you NO LONGER HAVE A GRACE PERIOD on purchases to your card. I bought things each month and kept getting interest charges even though I paid both the minimum for the balance transfer and paid off all new purchases. The representative explained to me that you lose the normal grace period (?42 days?) that you usually have when making purchases. Of course this is how Tesco is making up for low rates they are getting for the actual balance trasfer. Just sayin'Eph



According to the Tesco T&Cs they will reduce the balance in relation to the transactions that attract the highest rates of interest first. So you shouldn't really have had this problem? However, that will only happen if you allow enough time for the next statement to be generated following the purchase. If you pay it off too early (i.e. via debit card manually) it will pay towards the previous statement (i.e. probably your balance transfer). Then, when the next statement is generated, it will display your purchase and it will start attracting interest at the full rate!

It is in any case extremely unwise to use this card for any purchases. It is not designed for purchases. You would be better to transfer your balance, set up your direct debit, cut up the card, and keep paying it off (either minimum, or whatever fixed amount of your choosing) until completion.
Edited by: "xeroc" 7th Apr 2016
robcro

Now thats more like it!Both Santander Credit Cards are 0% Interest Free … Now thats more like it!Both Santander Credit Cards are 0% Interest Free Period and 0% fee at the moment too



How longs the interest free balance transfer period?
darksideby182

Had a tesco credit card a few years back and closed how long does it have … Had a tesco credit card a few years back and closed how long does it have to be before you can open a new card to get this offer again.


I think you should be fine, I had one that I'd not used in a while but never got round to closing it, Tesco then closed it for me due to inactivity on the account, which was only last month and I've just been accepted for this card today.
Mentos

If you shop regularly at Tesco's it is worth keeping the card at the end … If you shop regularly at Tesco's it is worth keeping the card at the end of the period (once you've paid off your BT) for the points. Just ask them to significantly lower the limit so its inline with your Tesco spend.



You'd be better off with a 0.5% cashback card plus a clubcard.
rivergo1d

You'd be better off with a 0.5% cashback card plus a clubcard.



I have a cashback card for everywhere else. I just use the Tesco Card at Tescos and have a very small limit so it doesn't significantly effect my credit rating.
2.69% fee.. whys this so hot?

Much better getting a zero fee for 21m then switching again.. save £26.90 per £1k

After 20m jusy get a new zero % deal

As long as you keep your credit file fine (payments on time) youll get another one

Morgd

I think you should be fine, I had one that I'd not used in a while but … I think you should be fine, I had one that I'd not used in a while but never got round to closing it, Tesco then closed it for me due to inactivity on the account, which was only last month and I've just been accepted for this card today.


Thank you
Perfect timing
If you changed address in the last 12 months, may not get approval
Banned
4 months ago I closed my tesco credit card and paid off all balance nothing outstanding. Can i apply again ? any suggestion ?
robcro

Now thats more like it!Both Santander Credit Cards are 0% Interest Free … Now thats more like it!Both Santander Credit Cards are 0% Interest Free Period and 0% fee at the moment too


£3 a month fee though I believe...
dude_1234

4 months ago I closed my tesco credit card and paid off all balance … 4 months ago I closed my tesco credit card and paid off all balance nothing outstanding. Can i apply again ? any suggestion ?


Make sure you are eligible

Please check that these statements apply to you

You have an annual income of at least £5,000
You are at least 18 years of age
You have a good credit history
You live in the UK, or have a British Forces Post Office address
You don’t currently hold more than 1 Tesco Bank Credit Card
You have not applied for a Tesco Bank Credit Card in the last month
Interesting, just (yesterday) signed up for Virgin's 30 months @ 0% but with 0.59% fee.

Here
dodgymix

2.69% fee.. whys this so hot? Much better getting a zero fee for 21m then … 2.69% fee.. whys this so hot? Much better getting a zero fee for 21m then switching again.. save £26.90 per £1k After 20m jusy get a new zero % dealAs long as you keep your credit file fine (payments on time) youll get another one



Exactly my thoughts, as the OP didn't include the balance transfer fee in the title, I assumed this was 40 months with zero fee, till i read the go to deal link.
Cold for me.
Edited by: "herby247" 7th Apr 2016
how does this work
im confused

i want to get around 10,000 pound interest free. is this possible.
so i need to get a credit card first? and then transfer the sum to one of these cards?
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