Tesco 0% transfer charges

retrosi

Tescos Complaints dept.

[Text Removed by ForumTeam]

On the 16/11/2015 I applied and was accepted for a Tesco Club card Credit card.
Don’t know the 16 digit number yet as I haven’t received it, this isn’t what I am complaining about.
I have applied for the 0% transfer fee & 0% for 21 months on the transfer.

Any monetary amounts mentioned here are theoretical only and not the amount being transferred or any purchases yet made. I haven't got the card yet this was originally a call just to ask a question.

Tesco offer 0% transfer fee & 0% interest for 21 months.
However, make a purchase & even pay the full purchase amount plus even over the minimum amount for the original transfer amount & you will be charged interest on the remaining balance!

Go figure!

Even though the transfer is supposed to be at 0% for 21 months & any purchases have 51 days to be paid in full before attracting interest. Unless the full amount is paid off ie; including the whole transfer amount you will have interest charged on the remaining amount.

Tesco T&C's clearly state 51 days allowed before interest on purchases.
They also pay off the item that attracts the highest interest first.

So assuming a £1000 transfer and then a £100 purchase.
The statement shows £1100.
I pay off the whole £100 purchase which they use to pay off that purchase first because their T&C's say it is .
I also pay say a further £300 which then comes off of my transfer amount.
But because I haven't paid the full £1100 completely off, the £100 purchase attracts an interest charge?

How come?

I paid the full purchase off within the 51 days & a further amount over and above the minimum off of the transfer which is well within the 21 months.
How on earth can I be charged interest on the purchase.

The T&C's clearly go against themselves.

You can't say I can have 51 days interest free on purchases & 21 months interest free for the transfer and after paying off all the purchase amount & a more than minimum amount of off the transfer, then charge interest on the purchase which I paid in full before the 51 days.

And around & around in circles I go.

Twice I was cut off when calling the call centre, the first I thought okay but the second time no way.
I phoned a third time.
I was offered to be put on hold to wait for a manager a third time.
I declined saying I was not prepared to be put on hold and cut off like twice before.
They put me on mute and several minutes later came back saying no manager was available.

All I got from the call centre was there was no Manager to speak to and they would call back within 24-48 hours!
How useless is that?

And kept saying that because there was still an outstanding balance I would have to pay interest on the purchase.

Even though I kept repeating I (theoretically) had paid that in full before the 51 days allowed.
Along with more than the minimum for the transfer.

Anyone got an answer?

Please don't say it's because there is still a balance left?

The two paragraphs in Tesco's own T&C's clearly say what I have typed and for my part are turned on their heads and become the complete opposite when a purchase is made.

They even said the transfer was still at 0% for the remaining months.

But because a purchase was made and even though the full purchase amount was paid off within the 51 days due.
The remaining balance, which is now only the transfer, not being paid in full.
Interest was due on the purchase from the day I purchased whatever I may have purchased.

So given the theoretical amounts are paid in full for the purchases before the 51 days allowed, and higher than the minimum amount paid as well (in addition) needed to pay for the transfer.
The remaining amount is none of the purchase, only some of the transfer which is still within the 21 months.

I have kept well within Tesco’s T&C’s
Tesco have paid off the highest attracting amount first according to their T&C’s.

What on earth am I being charged interest on or for?

Purchase paid in full within 51 days; check.
Minimum amount (or more) paid on transfer.; check.

Surely there is no amount outstanding that should attract an interest charge according to tesco’s T&C’s.

grumbler

retrosi wrote: »

Tescos Complaints dept.

...

On the 16/11/2015 I applied and was accepted for a Tesco Club card Credit card.
Don’t know the 16 digit number yet as I haven’t received it, this isn’t what I am complaining about.
I have applied for the 0% transfer fee & 0% for 21 months on the transfer.

Any monetary amounts mentioned here are theoretical only and not the amount being transferred or any purchases yet made. I haven't got the card yet this was originally a call just to ask a question.

Tesco offer 0% transfer fee & 0% interest for 21 months.
However, make a purchase & even pay the full purchase amount plus even over the minimum amount for the original transfer amount & you will be charged interest on the remaining balance!

Go figure!

Wow! What a wasted effort!
Here I stopped reading.

It's a known fact and is the same for all providers except one.
MSE article: Balance Transfer Credit Cards

The six golden rules

...3. Don't spend or withdraw cash on cheap balance transfer cards. It's not usually at the cheap rate

• Credit cards let you spend, shift debt or withdraw cash but banks must put repayments towards the most expensive debt first. So spending on a balance transfer card isn't as bad as it was, as repayments first clear the spending, but it can still cost, as you only avoid interest if you pay off the FULL balance, including transfers and purchases.

Another article: Nationwide revamps credit card fees, but will other providers do the same?

I paid the full purchase off within the 51 days & a further amount over and above the minimum off of the transfer which is well within the 21 months.
How on earth can I be charged interest on the purchase.

The T&C's clearly go against themselves.

You can't say I can have 51 days interest free on purchases & 21 months interest free for the transfer and after paying off all the purchase amount & a more than minimum amount of off the transfer, then charge interest on the purchase which I paid in full before the 51 days.

I am sure the T&C say something like "if the balance is paid in full" not "if purchases balance is paid in full".

[Deleted User]

OP - unless you're looking to gain new and interesting friends, you may not want to post your name, address and mobile number on t'internet.

SnowTiger

Thanks for your name, address and phone number. Will you publish the card number, too, when you receive it?

Your message is far too long and rambles far too much.

I think the answer to your problem is to follow the advice published here: don't spend on a card you've transferred a balance to.

The other answer is that, generally, you only get the interest-free period if your previous statement was paid in full.

[Deleted User]

retrosi wrote: »

Please don't say it's because there is still a balance left?

It's because there's a balance left.

You only get interest free on purchases if you pay in full.

bigadaj

SnowTiger wrote: »

Thanks for your name, address and phone number. Will you publish the card number, too, when you receive it?

PIN number and cvv would also be helpful.

Many thanks

Hazzanet

Deleted_User wrote: »

OP - unless you're looking to gain new and interesting friends, you may not want to post your name, address and mobile number on t'internet.

OP appears to run a photographic business so details are already available. Google name and location for website and Google+ profile.

dakekiouy

but how can i check my card without bank?

shortcrust

OP - Where have you got this stuff about "paying the full purchase". The terms and condition clear state:

"Maximum 51 days for purchases if you pay your balance in full and on time, and have paid the previous month’s balance in full and on time."