Tesco 0% for 12 Months on Purchases Clarification

roakes

Hi,

I'm looking to get myself a new SIM-free mobile phone and need a small loan of sorts to buy it, around £400.

Would I be right in thinking if I apply for a Tesco Credit Card which comes with 0% interest for 12 months on purchases that I can use this to buy it and then pay it back at £33 a month (or more) with no interest?

Also I noticed on http://www.tescofinance.com/personal/finance/finance/creditcards/clubcc/summary-box.html that it says "Maximum 51 days for purchases if you pay your balance in full and on time, and have paid the previous month’s balance in full and on time." Does this just mean you can only make purchases that qualify for the 0% within the first 51 days of the account opening?

Thanks for your help

Russ

Peeky

You open CC account, you then have 12 months to pay from account opening (you need to make the min payment at least). If you made a purchase as soon as you got your card you would have 11+ months to pay, if you bought another item after month 3 you would have 9 months to clear the total balance.

Do not withdraw cash, do not balance transfer, do not use on betting sites.

You last paragraph applies after 0% has expired.

roakes

Got it, excellent thanks. I intend to buy the phone then destroy the card basically and pay it off ASAP, as I said, just a small interest free loan for a specific purpose.

Thanks for your help

Phantom_Flan_Flinger

The 51 days for purchases part comes in after your go onto their standard rate.

CannyJock

roakes wrote: »

Got it, excellent thanks. I intend to buy the phone then destroy the card basically and pay it off ASAP, as I said, just a small interest free loan for a specific purpose.

Be sure to keep a note of the security digit on the back, the number to phone for their customer services, the number of the card ... maybe better not to actually destroy the card until it's cleared and closed to be on the safe side