Tesco 0% Purchase Credit Card

1nv1s1bl3c0r3

Hi all,

Sorry if these are silly questions, I'm new here and looking to get my first credit card, but hope someone can please help me:

1) With the Tesco 0% purchase card (which has 19 months interest free) if i buy say £700 worth, do i 'need' to pay the balance in full every month or could i just pay the £25 minimum monthly fee? I would be paying more than the minimum fee mind

2) Would it be ok/allowed to use the credit card to pay off bills for e.g. Argos card and Studio and not break any rules?

Thanks in advance

planteria

if you pay in full you would be preventing yourself from benefiting from the 0% on purchases deal...just buy what you need/want and then have a DD for the minimum, ensuring you are able to clear the remainder by the end of the deal.

1nv1s1bl3c0r3

planteria wrote: »

if you pay in full you would be preventing yourself from benefiting from the 0% on purchases deal...just buy what you need/want and then have a DD for the minimum, ensuring you are able to clear the remainder by the end of the deal.

Thanks, thought that was the case

You don't know if it's ok to use a credit card to pay off bills such as an Argos card or Studio do you? I'm not quite sure if those would break any rules as they are not actually 'purchases' just sort of paying off a monthly bill

planteria

dont know Studio...but are you referring to an Argos Storecard? if so, i think that would be paying credit with credit, and therefore you wouldnt be able to.
but, even if you can't, 0% on your other purchases will hopefully free up some of your income to clear the other bills.

1nv1s1bl3c0r3

planteria wrote: »

dont know Studio...but are you referring to an Argos Storecard? if so, i think that would be paying credit with credit, and therefore you wouldnt be able to.
but, even if you can't, 0% on your other purchases will hopefully free up some of your income to clear the other bills.

Thanks for your help

I could always work around it and use the credit card for shopping

Not sure if rent would class as a purchase either

thebritishbloke

If this is your first credit card, don't be surprised if you get turned down by Tesco, or get given a ridiculously low limit. They're one of the pickier lenders, and lenders become even more picky when they're offering 0% periods.

Your landlord probably won't accept CC payments. You generally can't pay off monthly bills with credit cards, i.e. Telecoms, Utilities, Rent etc. The normal way to get around it is to put your normal spending on the CC, but if you're doing that then you need to make sure you save enough money each month to pay it at the end.