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  • FIRST POST
    • Rich7111
    • By Rich7111 30th Apr 16, 11:38 PM
    • 38Posts
    • 29Thanks
    Rich7111
    Tesco Foundation Changed
    • #1
    • 30th Apr 16, 11:38 PM
    Tesco Foundation Changed 30th Apr 16 at 11:38 PM
    Tesco seem to have made a big change to this Foundation Credit Card, hopefully it will help some people out. Before it was aimed purely at those who hadn't had credit before rather than the sub prime market

    BEFORE

    Foundation Credit Card
    A way to help you build your credit rating

    If you've not had a credit card before or have limited experience with credit cards and you're keen to build, or improve, your credit rating, then the Foundation Card could help. With credit limits starting at £250, it can help you manage your credit and stay in control.


    NOW SAYS

    If you’re looking to rebuild or improve your credit rating following a history of impaired or bad credit, then our Foundation Credit Card could help you get back on track. Stay in control with lower credit limits and manageable monthly repayments from £25.


    Also before, it used to say you had to wait 6 months before applying again, but that's also been changed

    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 live in the UK, or have a British Forces Post Office address
    You don't currently hold a Tesco Bank Credit Card
    You have not applied for a Tesco Bank Foundation Credit Card in the last month

    Hope that helps you out if you are in the market for a Sub Prime card, as before I am pretty sure from experience and others feedback it wasn't for the Sub Prime market
Page 4
    • 20aday
    • By 20aday 17th May 16, 8:10 AM
    • 1,729 Posts
    • 698 Thanks
    20aday
    I don't disagree though I know the 1st card I added via iPhone was rbs debit which at the time I had to replace with a contactless card from r.b.s.
    As I mentioned I haven't tried Tesco via the card, though thanks for the tip for using a card if required, recently I've been advised to hold my iPhone sideways across the contactless terminal in 1 local groceries store which hasn't been a problem t.b.h. just the terminal don't always beep if I point iPhone from directly above terminal.
    Originally posted by Dandytf
    Whenever I've used BP they ask me to present my phone to the side of the card reader.

    Anywhere else it's usually a couple of cms above the device. Guess it varies, really.

    You wouldn't be able to use your Tesco credit card for physical contactless payments yet because the card doesn't have the RFID details inside (like your RBS Visa Debit card does).
    It's not your credit score that counts, it's your account conduct and credit history.
    • browneyone
    • By browneyone 10th Oct 16, 12:33 PM
    • 33 Posts
    • 11 Thanks
    browneyone
    Got my first limit increase today from 250 to 600
    • curlyhairsuzy
    • By curlyhairsuzy 10th Oct 16, 2:02 PM
    • 9 Posts
    • 4 Thanks
    curlyhairsuzy
    Got my first limit increase today from 250 to 600
    Originally posted by browneyone
    i also got the same, today, card has been open just over 3 months
    • onthefencepost
    • By onthefencepost 10th Oct 16, 2:30 PM
    • 134 Posts
    • 32 Thanks
    onthefencepost
    i also got the same, today, card has been open just over 3 months
    Originally posted by curlyhairsuzy
    Hows many payments have you made to Tesco? I was told by Tesco you had to wait 12 months before an increase?
    • 20aday
    • By 20aday 10th Oct 16, 3:16 PM
    • 1,729 Posts
    • 698 Thanks
    20aday
    Strangely enough I've had the same letter offering a credit limit increase from £250 to £600!

    I've only had my account open four months too.
    It's not your credit score that counts, it's your account conduct and credit history.
    • onthefencepost
    • By onthefencepost 10th Oct 16, 3:34 PM
    • 134 Posts
    • 32 Thanks
    onthefencepost
    Was the letter received today? What was the wording? Do you have to ring up to accept the limit or would it be automatically applied? I wont be home till later maybe i have also received the letter. I've made three payments to Tesco (3 statements).
    • galovich
    • By galovich 10th Oct 16, 3:43 PM
    • 1 Posts
    • 0 Thanks
    galovich
    You're right about that
    • 20aday
    • By 20aday 10th Oct 16, 5:41 PM
    • 1,729 Posts
    • 698 Thanks
    20aday
    My letter's downstairs but the general gist is that it'll automatically be applied from next month (12th November in my case).

    It does also go onto say it's subject to final checks i.e. nothing happens between now and then to prevent them increasing it and how to opt out of limit increases in the future.

    I've had a card with them in the past; I never got any automatic increases despite being opted into it. The only thing I can think of that's potentially helped me is having my wages paid into the bank via BACS.
    It's not your credit score that counts, it's your account conduct and credit history.
    • Dandytf
    • By Dandytf 10th Oct 16, 8:38 PM
    • 437 Posts
    • 237 Thanks
    Dandytf
    I posted about 15 mins ago before reading this thread.

    I received Tesco auto increase tonight, 250 to 600

    Very happy though I'm on a determined 0 balance before xmas mini mission.

    Think Ive got + 110 used at the moment, these £25 minimum dd's are excellent.

    I'll continue to head towards 0 then think how I can use this card from next year.
    sc dmp 2012 13k

    Jan 2016 5219 paid.
    • onthefencepost
    • By onthefencepost 10th Oct 16, 9:06 PM
    • 134 Posts
    • 32 Thanks
    onthefencepost
    Ditto i got the same letter and the same level increase.
    • curlyhairsuzy
    • By curlyhairsuzy 10th Oct 16, 9:38 PM
    • 9 Posts
    • 4 Thanks
    curlyhairsuzy
    auto increase by 4th November. Dont have to do anything.
    • browneyone
    • By browneyone 10th Oct 16, 11:12 PM
    • 33 Posts
    • 11 Thanks
    browneyone
    I think mines the 12th of November
    • Bogdan Cariman
    • By Bogdan Cariman 11th Oct 16, 1:58 PM
    • 5 Posts
    • 0 Thanks
    Bogdan Cariman
    £250 limit @ 29.9%
    • onthefencepost
    • By onthefencepost 12th Oct 16, 8:34 AM
    • 134 Posts
    • 32 Thanks
    onthefencepost
    I'm guessing foundation credit reviews are more often than regular Tesco credit card holders? Anyone know how often they review accounts?

    I was told by Tesco that you cannot apply or receive a credit limit increase in the first 12 months?

    Any light on this?
    • Dandytf
    • By Dandytf 12th Oct 16, 8:29 PM
    • 437 Posts
    • 237 Thanks
    Dandytf
    I'm guessing foundation credit reviews are more often than regular Tesco credit card holders? Anyone know how often they review accounts?

    I was told by Tesco that you cannot apply or receive a credit limit increase in the first 12 months?

    Any light on this?
    Originally posted by onthefencepost
    12 months is correct.
    Though you can chose to be 'considered' for auto inceases when a card is active.

    I think it's advisable to setup dd for at least minimum payment, no missed payments and always in initial limit to be considered for auto increase.

    I thought I was in 50% limit though since checking I used the dizzy heights of 137 from 250 limit with 25 min dd setup no missed payment since card opened last year.

    Hasn't done any harm as I received auto increase letter 12/11 to 600 a few days ago.

    As ive got conf of road tax 12 myths today (cheque payment) I can continue to pay off Tesco and vastly reduce cap 1 from 276 (450 limit)

    That will be me until 2017, my Tesco card@600 +Luma 1000 (55 balance)

    These will be my home and car 'emergancy cards if required next year)

    I'm not in any position at all to run up hundreds of cc credit.

    Though I have found I can manage to use these cards on an emergancy basis only if and when required.
    Last edited by Dandytf; 12-10-2016 at 8:31 PM.
    sc dmp 2012 13k

    Jan 2016 5219 paid.
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