Tesco card good for both spending and balance transfers?

artha

Having read the tesco site I see that it gives 0% for 9 months on balance transfers and 0% for 13 months on new purchases. Both balance transfers and purchases seem to be treated equally as far as repayments are concerned. I would have thought it merited a mention on the main site for a multi purpose card but the balance transfer benefits are not even mentioned. Am I missing something ?

YorkshireBoy

artha wrote: »

I would have thought it merited a mention on the main site for a multi purpose card but the balance transfer benefits are not even mentioned. Am I missing something ?

Tesco's 9 months is bettered by many other cards, offering up to 16 months 0% on BTs.

With Tesco, you'll be paying interest on the BT transaction from months 10-13.

There are better 'multi purpose' cards, eg the Virgin Money 12/12 card. Is that one mentioned on the main site?

danothy

The Tesco credit card is mentioned in the loyalty scheme article, it's all right but, as stated above, there are better deals out there for 0% periods.

I like it, the return on spending is low (I think it's about 0.25% in real terms), but the threshold for spending to get the reward is also low (min. £4 each transaction to get a return) as opposed to the all or nothing £300 in a month threshold with the Clarity, so it could suit some (e.g. me).

Arcey80

Would you need to pay the total balance of the card off within 9 months to avoid paying interest on the Balance Transfer?

artha

Arcey80 wrote: »

Would you need to pay the total balance of the card off within 9 months to avoid paying interest on the Balance Transfer?

yes that's what I assume. There isn't a great deal to transfer and the intention would be to clear it within a few months with having the advantage of a short period of interest free credit on monthly outgoings to get through a short period of cash flow problems. Better than using an overdraft facility whilst changing rented accomodation