Tesco CC Minimum Payments Almost Equal to Full Balance

Stephen_C.

I'm not sure how Tesco calculates the minimum payments for their credit card, but it seems there is little point in this 0% deal I have with them if the minimum payment is nearly or is equal to the entire statement balance.

For the last 2 months:

Statement Balance | Minimum Payment

£18.15 | £18.15
£29.82 | £25.00

As to why I'm not spending much on this card:

1. I have better rewards on another card
2. My other card is unlimited, this one has a pitiful £250 limit and I don't want to risk going over the limit.

[Deleted User]

They have a min payment of £25. Otherwise 1% plus fees and interest.

molerat

As per the T&Cs, which you read and agreed to, the minimum payment on Tesco CCs is £25 or the full balance if lower.

Ebe_Scrooge

As well as the T&Cs, it nearly always says on the back of the statement how the minimum payment is calculated. Have you actually looked ?

Stephen_C.

Thanks everyone!

InsideInsurance

Stephen_C. wrote: »

1. I have better rewards on another card
2. My other card is unlimited, this one has a pitiful £250 limit and I don't want to risk going over the limit.

Why go for a 0% if you are only going to be making token payments when AmEx isnt accepted? Surely a fee free cashback card would be better?

PS. AmEx chargecards are not "unlimited" they simply have no specified limit but if you go try and buy a brand new Aston Martin on it it'll almost certain decline despite the no limit.

Stephen_C.

InsideInsurance wrote: »

Why go for a 0% if you are only going to be making token payments when AmEx isnt accepted? Surely a fee free cashback card would be better?

PS. AmEx chargecards are not "unlimited" they simply have no specified limit but if you go try and buy a brand new Aston Martin on it it'll almost certain decline despite the no limit.

I have a fee-free cashback card too. This card is still the best Avios-earning Mastercard unless you have the old Tesco World MasterCard or meet the requirements for HSBC Premier.

Double points on Tesco petrol, when combined with Amex Gold in the first year is also the most lucrative way to buy petrol. With the 2000 points sign up bonus for this Tesco CC, it made sense given that it has no fee.

The 0% is just a bonus and I don't really need it, but it's useful for when buying credit at places that don't take Amex, so that the cost can be spread over time.

I didn't mean unlimited in the literal sense of the word. But I have never and probably never will reach the limits that are set on the card.