Tesco Foundation Changed

Rich7111

Tesco seem to have made a big change to this Foundation Credit Card, hopefully it will help some people out. Before it was aimed purely at those who hadn't had credit before rather than the sub prime market

BEFORE

Foundation Credit Card
A way to help you build your credit rating

If you've not had a credit card before or have limited experience with credit cards and you're keen to build, or improve, your credit rating, then the Foundation Card could help. With credit limits starting at £250, it can help you manage your credit and stay in control.


NOW SAYS

If you’re looking to rebuild or improve your credit rating following a history of impaired or bad credit, then our Foundation Credit Card could help you get back on track. Stay in control with lower credit limits and manageable monthly repayments from £25.


Also before, it used to say you had to wait 6 months before applying again, but that's also been changed

Make sure you are eligible

Please check that these statements apply to you

You have an annual income of at least £5,000
You are at least 18 years of age
You live in the UK, or have a British Forces Post Office address
You don't currently hold a Tesco Bank Credit Card
You have not applied for a Tesco Bank Foundation Credit Card in the last month

Hope that helps you out if you are in the market for a Sub Prime card, as before I am pretty sure from experience and others feedback it wasn't for the Sub Prime market

[Deleted User]

Every little helps.. as they say

onthefencepost

good news on the Tesco Foundation card.

I applied back in Feb and got knocked back. I may give it a whirl in two months time as ive just paid of my argos card in full and my JD Williams catalog off and my Aqua card.

Any applied under the new changes?

A4445

I wonder if they allow applicants with defaults/iva/ccj and bankruptcy like the other sub prime lenders. I noticed they APR can go as high as 39.9% so it's similar to vanquis and cap 1

Dandytf

Rich7111 wrote: »

Tesco seem to have made a big change to this Foundation Credit Card, hopefully it will help some people out. Before it was aimed purely at those who hadn't had credit before rather than the sub prime market

BEFORE

Foundation Credit Card
A way to help you build your credit rating

If you've not had a credit card before or have limited experience with credit cards and you're keen to build, or improve, your credit rating, then the Foundation Card could help. With credit limits starting at £250, it can help you manage your credit and stay in control.


NOW SAYS

If you’re looking to rebuild or improve your credit rating following a history of impaired or bad credit, then our Foundation Credit Card could help you get back on track. Stay in control with lower credit limits and manageable monthly repayments from £25.


Also before, it used to say you had to wait 6 months before applying again, but that's also been changed

Make sure you are eligible

Please check that these statements apply to you

You have an annual income of at least £5,000
You are at least 18 years of age
You live in the UK, or have a British Forces Post Office address
You don't currently hold a Tesco Bank Credit Card
You have not applied for a Tesco Bank Foundation Credit Card in the last month

Hope that helps you out if you are in the market for a Sub Prime card, as before I am pretty sure from experience and others feedback it wasn't for the Sub Prime market

Thanks this card is tempting 27.5% apr.

Though If you don’t receive the representative APR, the maximum APR you will receive is 39.9%.

0%buy now pay now later purchases 6 mths isn't a bad offer.

A4445

onthefencepost wrote: »

good news on the Tesco Foundation card.

I applied back in Feb and got knocked back. I may give it a whirl in two months time as ive just paid of my argos card in full and my JD Williams catalog off and my Aqua card.

Any applied under the new changes?

Do you know what Credit reference agencies they used for the application?

Rich7111

They only checked Experian for me... (says they hope to give me a card) with a £250 limit, I have a few defaults. Just need to wait and see now...

A4445

Rich7111 wrote: »

They only checked Experian for me... (says they hope to give me a card) with a £250 limit, I have a few defaults. Just need to wait and see now...

That's great news..plus clubcard points did it tell you what the APR would be?

Rich7111

£250 limit @ 29.9%

tomxlisa

I tried for one of these cards back in Jan and got knocked back, even though i don't have bad credit, no missed payments etc, so not sure why they would of knocked me back but maybe it was other reasons i don't know of, what i do find surprising is they say if you haven't applied in the last month to try again, but most say leave it 6 months before trying again.

Dandytf

Your foundation credit card
27.5%
APR
£250
Credit limit
£200
Balance transfer limit 200

You can balance transfer up to: £200
The interest rate that will apply: 0.000%
This interest rate applies for: 1 months
Your one off introductory balance transfer fee: 0.00%
After your introductory period, the rate that will apply is: 24.576%
Buy Now Pay Later and Special Offers
Initial Buy Now Pay Later purchase transactions for the first 6 months 0.000 % 0.000 %
We'll post your card out to you and it should arrive within 5-10 days.

And it's Apple pay card :cool:

Things are slowly improving