Credit cards Date:
Tesco Bank has launched a new balance transfer credit card, which has gone straight into the Moneyfacts charts thanks to its eye-catching terms.
The new Aggregator Clubcard Credit Card for 38 Months Balance Transfer Credit Card MasterCard has a 38-month interest-free term for both balance and money transfers, which come with introductory fees of 2.49% and 3.94% respectively. A three-month 0% interest term for purchases is also included in the deal.
Borrowers should note that this card is only available through aggregators.
Transfers must be made within 90 days in order to be eligible for the interest-free deal. Once the introductory offers come to an end, both balance and money transfers will be charged at 20.626% per annum, while standard purchases will attract a charge of 18.9% APR.
As an added bonus, Clubcard holders will earn five points for every £4 spent in Tesco stores or on Tesco fuel, while one point will be awarded for every £8 spent elsewhere.
Borrowers must be at least 18 years old and have a minimum annual income of £5,000. Applications must be made online. Borrowers should remember that rates are representative and dependent on their credit rating.
This newcomer offers a highly competitive interest-free term for both money and balance transfers, as well as a bonus three-month 0% term for purchases. Clubcard holders will also be able to benefit from points to spend in Tesco stores, which adds an extra gloss to this already eye-catching deal. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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