Tesco's Credit Card Balance Payment Issues

aidrenegade

Hello,
Last November I took out a Tesco's credit card to maximize the club card points I earn. For the most part I've no problems with the card. I have been caught out a couple of times now after paying off the bulk of my balance and suddenly finding I can't use the card.
I made the last payment through Tescos online using my debit card last Monday and was surprised to find out it still hadn't cleared by last Friday. Tesco's had previously told me it takes up to 48 hours to clear yet just now I was told up to 6 days depending on various factors. Get your facts right Tesco's!

I've also been told that making payments over £1000 with in a month of each other is likely to kick in their money laundering protection bots. Has this happened again to me? I don't know yet as of course it's a bank holiday and no one from the relevant department is in to check with. Poor customer service right there as far as I'm concerned, Tesco's. Also stinks of an excuse to charge a few days extra interest on my credit card balance by not clearing the payment.

I like to and should be able to manage my credit card as & when my bank account allows as I don't have any fixed date monthly pay check as I'm self employed. I'm now hoping that Tesco's up my credit card limit soon so I have a balance that enables me to cover my my monthly financial turn over with out making multiple payments to bring down the card's balance....:mad:
Anyone else having problems like this or is it just me.

grumbler

http://faq.tescobank.com/help/change-centre/time-for-debit-card-payments

Question:

How much time should I allow for debit card payments to be credited to my credit card

Answer:

We recommend you allow two full working days for debit card payments. Please check with your bank exactly how long it will take.

The last sentence makes no sense to me though...

BTW, it's
within, NOT 'with in'
turnover, NOT 'turn over'
without, NOT 'with out'

poggles

aidrenegade wrote: »

Hello,
Last November I took out a Tesco's credit card to maximize the club card points I earn. For the most part I've no problems with the card. I have been caught out a couple of times now after paying off the bulk of my balance and suddenly finding I can't use the card.
I made the last payment through Tescos online using my debit card last Monday and was surprised to find out it still hadn't cleared by last Friday. Tesco's had previously told me it takes up to 48 hours to clear yet just now I was told up to 6 days depending on various factors. Get your facts right Tesco's!

I've also been told that making payments over £1000 with in a month of each other is likely to kick in their money laundering protection bots. Has this happened again to me? I don't know yet as of course it's a bank holiday and no one from the relevant department is in to check with. Poor customer service right there as far as I'm concerned, Tesco's. Also stinks of an excuse to charge a few days extra interest on my credit card balance by not clearing the payment.

I like to and should be able to manage my credit card as & when my bank account allows as I don't have any fixed date monthly pay check as I'm self employed. I'm now hoping that Tesco's up my credit card limit soon so I have a balance that enables me to cover my my monthly financial turn over with out making multiple payments to bring down the card's balance....:mad:
Anyone else having problems like this or is it just me.

People love to perpetuate conspiracy theories, and I congratulate you on your valiant efforts to do so.

But paying £1000+ online per month off your credit card bill will not "kick in their money laundering protection bots"

As for payment times, these are all explained on the reverse of your statement.

Essentially they recommend to allow at least 2 working days for all payment forms (although check with your own bank for exact details) unless paying by post where their recommendation is 5-7 working days plus a further 4 working days for the cheque to be funded to your account.