TESCO Credit Card 0% til Nov 05

nearlyrich

I called Tesco Personal Finance today and asked them what they could do for me ( A customer with 3 years track record, putting £1500-£2000 per month throught my card) Best they could offer was 6.9% on balance transfer for life of balance. As anyone who has looked at the credit card market can verify, this is not a good deal and as I normally pay my bill in full and can only get around 5% interest pre tax from a savings account you can guess my answer.

I asked if they were interested in keeping my business and the sector manager I spoke to more or less implied that they don't care at all.
I am looking for a good deal from another provider ......

monkeyboy72

Hi

I have my buildings insurance through Tesco and recieved an invitation through the post for this card, it was offering 0% on balance transfers and purchases until 01/11/05 and FREE balance transfers, put on the form that I owe egg £4000 (currently in stooze pot) so am waiting for a response, will let you know outcome.

gallen9_2

Credit limits aren't usually set with your BT in mind since no lender can confirm that you're telling the truth as the data at Experian/Equifax is far from complete. So don't get your hopes up. It is a good offer in store though (and better on direct mail).

To nearlyrich, what offer were you hoping for? You've not paid any interest to Tesco for three years so I guess they were just chancing their arm. What could they have offered (apart from 0% with no fee for a year )

nearlyrich

I know I personally haven't paid them any interest but they will have benefitted from the charges to the merchants I use and at £1500 to £2000 per month it's not to be sniffed at.  I was hoping they would either offer the 0% on purchases so I could stooze the money in my Ing account at 5% interest till November, or offer a BT deal at 0% for a few months. Nothing ventured nothing gained.

WallyMan

Has anyone applied for one of these yet? I'm wondering whether this good deal is reduced by low initial credit limits?

smartsaver

I have applied but so far have heard nothing. Maybe theres a rush?

Unbelievable_2

I have just received my card - applied for via an invite through the post. Although it's a Finest Platinum card the credit limit is only £3250. This is the second lowest limit I have had so far - the first was with Mint, also RBS

psear

Have just been on the sainsburys website, and they are doing a deal of 0% for 12 months, which is a bit better than tesco's, although balance transfers are 5.9% which is not so great

psear

Sorry don't know where the bit about Simon Bottomley came from!

Unbelievable_2

psear - to get rid of all that stuff at the bottom of your post, click on 'quicklinks', choose 'edit signature' and delete it or add your own stuff