Tesco 3% current account

Dan83

Hi,

for those who are un-aware, telco have a current account that pays 3% interest on balance's up to £3000.

Does this mean if I have £3000.01 in the bank I get no interest, or that I only get interest on £3000 no matter how much I have in the bank?

I have applied, been accepted and received my card, all that is left is to transfer money in.

I have only just registered and this is my 1st post, although I have been looking on the forums for a while.

Thanks
Dan

Mojisola

Dan83 wrote: »

Hi,

for those who are un-aware, telco have a current account that pays 3% interest on balance's up to £3000.

Does this mean if I have £3000.01 in the bank I get no interest, or that I only get interest on £3000 no matter how much I have in the bank?

The one in bold.

Dan83

Thanks for the quick reply

Pincher

http://www.quidco.com/tesco-bank-credit-card-with-no-bt-fee/#terms-and-conditions-1


If you have £3,000+ in credit card balance.


You end up borrowing £3,000 at 0%, and earn 3% (before tax) interest on £3,000.


And you get £30 cashback from Quidco. I got £25 in November on a previous deal. Tesco kept rejecting the claim, but finally paid up.


I am paying about £34 monthly minimum, with no interest accruing.


The only problem is, what am I going to do with the £3,000 I was going to save with Tesco?

enthusiasticsaver

Pincher wrote: »

http://www.quidco.com/tesco-bank-credit-card-with-no-bt-fee/#terms-and-conditions-1


If you have £3,000+ in credit card balance.


You end up borrowing £3,000 at 0%, and earn 3% (before tax) interest on £3,000.


And you get £30 cashback from Quidco. I got £25 in November on a previous deal. Tesco kept rejecting the claim, but finally paid up.


I am paying about £34 monthly minimum, with no interest accruing.


The only problem is, what am I going to do with the £3,000 I was going to save with Tesco?

That is a good deal. Stick the £3000 into a Nationwide or TSB account instead unless you already have one.

Archi_Bald

Pincher wrote: »

The only problem is, what am I going to do with the £3,000 I was going to save with Tesco?

Put it into a second Tesco current account.

Pincher

Archi_Bald wrote: »

Put it into a second Tesco current account.

I don't know why, considering the cheek of lending TESCO their own money to get interest, but I find getting a second TESCO current account on top TOO cheeky.

bigadaj

Pincher wrote: »

I don't know why, considering the cheek of lending TESCO their own money to get interest, but I find getting a second TESCO current account on top TOO cheeky.

Why?......

Pincher

bigadaj wrote: »

Why?......

Didn't I start that sentence with "I don't know why"?

It's like when they give away freebies in shows, like pens, Frisbees, etc. I don't really like to take more than one, unless I'm getting one for somebody else.

Greedy pigs are not attractive.

colsten

Pincher wrote: »

Greedy pigs are not attractive.

Are you saying that people who, in 100% compliance with the Tesco T&Cs, have two Tesco current accounts and a 0% Tesco credit card are greedy pigs and unattractive? If so, you have an awful lot of apologising to do to an awful lot of people.

Dan83

Pincher wrote: »

If you have £3,000+ in credit card balance.


You end up borrowing £3,000 at 0%, and earn 3% (before tax) interest on £3,000.


And you get £30 cashback from Quidco. I got £25 in November on a previous deal. Tesco kept rejecting the claim, but finally paid up.


I am paying about £34 monthly minimum, with no interest accruing.


The only problem is, what am I going to do with the £3,000 I was going to save with Tesco?

I've got the credit card in question. Can I withdraw £3000 cash with out paying fee's/interest?