Reviewed: Tesco Bank Credit Cards | moneyfacts.co.uk

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Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 17/08/2021

Tesco Bank was set up in 1997 in a partnership between Royal Bank of Scotland (RBS) and Tesco. In 2008 Tesco Bank separated from RBS and is a fully authorised bank with the Prudential Regulation Authority and the Financial Conduct Authority.


Tesco Bank has 2.6 million credit card customers, and a selection of their credit cards were awarded five stars from Moneyfacts last year. We look at the sorts of credit cards Tesco Bank usually has available to customers.

What credit cards does Tesco Bank offer?

Tesco Bank offers a range of credit cards, including those with 0% for balance transfers and/or purchases, low APR cards and cards that help to improve your credit rating.


Tesco Bank gives customers looking for a 0% interest rate the choice of having this just for balance transfers, just for purchases or for both. It is usual for this 0% rate to be offered as a promotion for a set period. When this expires Tesco Bank then charges its standard credit card interest rate. There is usually a fee to make any balance transfers. The Bank also offers a credit card with a 0% interest rate for balance transfers, purchases and money transfers. This means customers can use the card to move money from their credit card to a bank account and not incur any interest costs during the promotional period. Money transfers do have a percentage-based fee.


Those wanting to improve their credit score, can use Tesco Bank’s Our Foundation Card. This has a credit limit of between £200 to £1,500 and monthly repayments from £25. Those cardholders that stay within their credit limit and make their payments online will be considered for regular credit limit increases. Those with a Tesco Bank Our Foundation Card will also have access to a free credit check service called CreditView. This is available for up to three years and gives cardholders access to their credit report and score from Transunion. The service includes email alerts if the cardholder’s report changes significantly and suggests ways to improve their score.

Tesco Bank credit cards features

  • You can use your iphone, Apple watch or ipad to make payments using your Tesco Bank Credit Card.
  • No monthly or annual card fees.
  • Option to add additional cardholder.
  • Mobile banking app and alerts.
  • Purchases are covered by the Consumer Credit Act

 

You can collect Tesco Clubcard points using your Tesco credit card

Every time you use your Tesco Bank credit card it will earn Clubcard points. Every time you spend £4 in Tesco you will earn 1 ClubCard point. When you spend outside of Tesco you will need to spend £8 to earn 1 Clubcard point. ClubCard points can be used at Tesco or with one of Tesco’s Clubcard Reward Partners.

Which Tesco credit card is right for me?

Choosing the right Tesco credit card will depend on your circumstances but thinking about how you want to use the card is a good starting point. If you need to make a large purchase, a Tesco Bank credit card with a 0% promotional period will allow you some time to pay the money back while not incurring interest costs. And you can earn Tesco Clubcard points too. If you have a current credit card balance that is incurring interest costs, then a Tesco Bank, 0% balance transfer credit card would remove these - bear in mind the transfer fee though. If you are looking to improve your credit score, then Tesco Bank’s credit repair card should do the job.

Will I be accepted for a Tesco Bank credit card?

You must be at least 18, a permanent UK resident and have an income of £5,000 or more to qualify for a Tesco bank credit card. When you apply for a Tesco Bank credit card you may be offered something different to the card you applied for. For example, if your credit score is not strong enough for a 0% interest card from Tesco Bank, they may offer their credit repair card instead. In some cases Tesco Bank may show your application as being ‘referred’ – this means they need to check some details in your application before giving you a final decision. 

 

How do I apply for a Tesco Bank credit card?

You can compare the best credit cards on our chart and then visit the lenders to apply online.

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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