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  • FIRST POST
    • zak2012
    • By zak2012 16th May 17, 6:10 PM
    • 290Posts
    • 16Thanks
    zak2012
    tesco credit card
    • #1
    • 16th May 17, 6:10 PM
    tesco credit card 16th May 17 at 6:10 PM
    hi,i just applied for Tesco credit card,this is first time i apply for credit card,,but dont know how it works? they gave me 0% for 18 months is that mean i can use the money and not pay any for 18 months? somewhere esle saying i need to set up direct debt and pay in monthly minmium? what is that mean?

    for exmaple if i use £50 a month on card do i have to pay that before end of month? or i can wait until 18 month ends?
Page 1
    • 20aday
    • By 20aday 16th May 17, 6:28 PM
    • 2,009 Posts
    • 836 Thanks
    20aday
    • #2
    • 16th May 17, 6:28 PM
    • #2
    • 16th May 17, 6:28 PM
    Hello.

    What it means is you have 18 months' interest free on purchases from the date of account opening.

    You must always pay at least the minimum payment each month (no later than the due date on your statement) otherwise you will lose your promotional rate and you'll be charged interest at the advertised variable APR.

    It's advisable to set up a Direct Debit so you don't miss any payments; Tesco's minimum Direct Debit is £25.00 or for the full statement balance if you'd got, say, £10 left on there to pay.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
    • PeacefulWaters
    • By PeacefulWaters 16th May 17, 7:16 PM
    • 6,564 Posts
    • 8,055 Thanks
    PeacefulWaters
    • #3
    • 16th May 17, 7:16 PM
    • #3
    • 16th May 17, 7:16 PM
    hi,i just applied for Tesco credit card,this is first time i apply for credit card,,but dont know how it works?
    Originally posted by zak2012
    The explanation above is excellent.

    Applying for credit facilities without reading basic information about them is a dangerous game.

    Hopefully you noted the £100 annual fee?
    • Superscrooge
    • By Superscrooge 16th May 17, 7:34 PM
    • 843 Posts
    • 584 Thanks
    Superscrooge
    • #4
    • 16th May 17, 7:34 PM
    • #4
    • 16th May 17, 7:34 PM
    hi,i just applied for Tesco credit card,this is first time i apply for credit card,,but dont know how it works? they gave me 0% for 18 months is that mean i can use the money and not pay any for 18 months? somewhere esle saying i need to set up direct debt and pay in monthly minmium? what is that mean?

    for exmaple if i use £50 a month on card do i have to pay that before end of month? or i can wait until 18 month ends?
    Originally posted by zak2012
    Have you definitely got a 0% PURCHASES card and not a 0% Balance Transfer card?

    You need to make sure you have a good understanding of how credit cards work before you spend on it.
    Some useful information on the below link

    http://www.tescobank.com/credit-cards/guides/
    • SnowTiger
    • By SnowTiger 16th May 17, 9:08 PM
    • 2,959 Posts
    • 1,939 Thanks
    SnowTiger
    • #5
    • 16th May 17, 9:08 PM
    • #5
    • 16th May 17, 9:08 PM
    Have you definitely got a 0% PURCHASES card and not a 0% Balance Transfer card?

    You need to make sure you have a good understanding of how credit cards work before you spend on it.
    Some useful information on the below link

    http://www.tescobank.com/credit-cards/guides/
    Originally posted by Superscrooge
    It's probably this card: http://www.tescobank.com/credit-cards/purchases/index.html?intid=Olb/Combo/Cc/Purc/0for30.

    I got a Tesco balance transfer card recently. Yesterday an advert for their 0% purchase card appeared in my online banking account.

    0% for 30 months. Who would say no to that? The card is on its way.
    • 20aday
    • By 20aday 17th May 17, 11:20 AM
    • 2,009 Posts
    • 836 Thanks
    20aday
    • #6
    • 17th May 17, 11:20 AM
    • #6
    • 17th May 17, 11:20 AM
    It's probably this card: http://www.tescobank.com/credit-cards/purchases/index.html?intid=Olb/Combo/Cc/Purc/0for30.

    I got a Tesco balance transfer card recently. Yesterday an advert for their 0% purchase card appeared in my online banking account.

    0% for 30 months. Who would say no to that? The card is on its way.
    Originally posted by SnowTiger
    Funnily enough I've just logged into my account and the same advert has appeared.

    Am surprised as it's less than two months since I closed my Foundation account with Tesco Bank and their email said I have to wait six months from the balance reaching nil before I can apply again.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
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