I've made a schoolboy error - Tesco 0% 19 February 2012 at 11:48AM in Stoozing: free cash from credit cards 5 replies 2.4K views

paulboy83

Hi all,

I've made a schoolboy error a few days back on my Tesco 0% spending card.

I have been trying to make purchases to keep as close to the limit as possible, but my maths failed me and I've gone a couple of pounds over the limit. Does this mean that I've now forfitted the 0% for the rest of the term? I've paid the amount I went over by off as soon as I saw it so am back under the limit, but I assume I'm going to take a hit with a charge as well for this.

In this situation am I best paying it off, closing the account and putting it down as a lesson learnt, or will I get a slap on the wrist and be able to carry on with my 0% for the next few months?

YorkshireBoy

You need to be talking to Tesco Personal Finance.

Suggest ringing on Monday morning, but be prepared to have to repay it pretty sharply if you can't hold on to the 0% offer.

There is a chance that they've backdated any interest to the date of your previous statement which will likely wipe out any 'profit' you've achieved so far...unless you're coming to the end of the introductory period?

If you do get some good news, then be sure to make notes of the conversation including the name and extension number of the person you speak with.

gwapenut

Very grateful to Sainsburys CC for declining my transaction in this situation (again, a few pounds)! The brief embarrassment at the checkout was more than worth it to hang onto my deal ...

paulboy83

Thankfully Tesco were good about this, I called and before I even had to ask they waived the fee, and let me keep the 0%. Certainly a lesson learnt. No need to go right to the limit, a buffer is always wise. Although I wish they could have just declined the transaction in the first place, as gwapenut said, I'd rather be embarrassed for a moment than mess around with this!

blacksta

Case Closed - I would always try to seperate a 0% and purchase card. Makes life easier.

JimmyTheWig

It sounds like a slow Stooz, blacksta. The 0% _is_ the purchase card.