Tesco Credit Card Interest Rates After Promo Period???

weebit

Hi all,

I've recently been offered a 0% Balance Transfer and/or 0% Money Transfer till October 2017 on my existing Tesco Credit Card. This is very good news indeed because any interest saved will help me pay off my debt quicker.

However, One piece of information I cannot seem to find anywhere is what interest rate will the balance revert to after the promo period ends? Tesco don't seem to publish this anywhere, and even the letter I received doesn't mention it. My statement only shows the standard rate of interest for purchases (1.313% monthly).

Does anyone know if they apply a different rate to balance transfers and money transfers? I know MBNA do (18.9% for BT, 20.9% for MT), but do Tesco? And most importantly, why can I not seem to find this vital information published anywhere?

Thanks for any help anyone can offer!

Ebe_Scrooge

Unless it's stated elsewhere, once the 0% deal finishes you'll go back to your existing standard APR.

beansy

My O.H and I have just received special offer balance transfer letters in the post from Tesco and on checking, they are offering him 0% on money transfers till Oct for a 3.99% fee but on mine the fee is only 2.99%.
Not that I am looking for one, I just thought I'd check the rate and it would seem different people are getting different offers.

weebit

my offer was also for a 2.99% fee on either BT or MT.

I managed to dig out my original credit agreement (Which I thought I had thrown away) and it says a Money Transfer would revert to 1.313% per month, but a Balance Transfer would revert to 1.408% per month. I guess I'm doing the Money Transfer offer then!

Also, My balance is roughly half my limit, so I'm going to MT the maximum I can off the card then use the funds to make a payment back to Tesco to clear what's on there at full rate, then make another MT to pay off another card instead