TESCO CC beware

discoass

YorkshireBoy wrote: »

I've closed my Tesco card earlier this year so don't have the T&Cs to hand. Have you looked at yours to see?

In essance though, debits (ie purchase transactions, charges, interest, etc) and credits (ie your payments, refunds, etc) are applied at the start of the day...and the statement is closed off at the end of the day. Therefore you'll find it very difficult/nigh on impossible to avoid 2 x £12 charges for a single overlimit breach of your T&Cs.

but if it had been on the 5th i would only have had 1 ,plus a bit of notice of the charge would have been nice.

danothy

discoass wrote: »

but if it had been on the 5th i would only have had 1 ,plus a bit of notice of the charge would have been nice.

My Tesco CC T&Cs says that interest will be applied on each statement date (Section 2(C) (g)) so I would side with your argument that this shouldn't have spanned two payment periods (in the absence of some small print that lets them apply interest at their discretion, which may or may not exist, or unless the statement date cycle and the charging period are separate entities).

However you took your grievance up with them and it appears that they resolved it, so do your stress levels a favour and let it go ...

discoass

danothy wrote: »

My
However you took your grievance up with them and it appears that they resolved it, so do your stress levels a favour and let it go ...

lol.i`m not stressed just annoyed,while "I "resolved my argument I bet there are quite alot that have`nt noticed/accepted/too scared to say etc.

ps i was stressed yesterday but not as much as the tescos customer service girls i spoke 2 .

danothy

discoass wrote: »

ps i was stressed yesterday but not as much as the tescos customer service girls i spoke 2 .

Is that because you levelled abuse at them in the same way you did to withabix?

discoass

danothy wrote: »

Is that because you levelled abuse at them in the same way you did to withabix?

yep. although .i didnt level any abuse at withabix ...what i did was react to his/her condescending input to my post in which they knew nothing of my personel details yet decided to have an albiet wrong opinion

chattychappy

merchcon55 wrote: »

Not sure if to start a new thread - but will post here first. I am having an issue with Tesco credit card regarding an exchange rate they used for EURO (purchases in Spain) in August and September.

I wonder if anyone here used their Tesco card abroad recently. If yes would you be able to let me know a few examples of what rate you were given.

I could use the following (as an example)


15-08-10 Purchase EUR 58.99 Exch Rate 1.152254 GBP 51.19

I am trying to see if it's "just me" or if Tesco use an inferior rate of exchange compared to other cards

Thank you

Yes, Tescos are the worst. They use an inferior rate which they then load. There was a thread a while back on this. Oanda gives the interbank rate as 1.22164, so you are 6% adrift. I think that's roughly what we found before (I did a test purchase - perhaps it was 5.5%, but exact timing does vary a bit).

I think it's very misleading to quote a 2.75% loading when you're not starting from a standard rate in the first place, but that seems to be what they do.

Most cards load 2.75% - 3% above a mid-rate, but Zero, PO, and Clarity are all loading free.

merchcon55

chattychappy wrote: »

Yes, Tescos are the worst. They use an inferior rate which they then load. There was a thread a while back on this. Oanda gives the interbank rate as 1.22164, so you are 6% adrift. I think that's roughly what we found before (I did a test purchase - perhaps it was 5.5%, but exact timing does vary a bit).

I think it's very misleading to quote a 2.75% loading when you're not starting from a standard rate in the first place, but that seems to be what they do.

Most cards load 2.75% - 3% above a mid-rate, but Zero, PO, and Clarity are all loading free.

Thanks - managed to find the thread - very interesting read. The OP never followed up since July - wonder what happened?