Beware Tesco Credit Card and their "offers"

redux

Dobbibill wrote: »

You haven't paid your balance in full. Regardless of what rate the rest of your balance is at, the rule is if you pay your balance.

There will probably be some readers who complain that there is an unfair paradox here, what is the point of a medium term balance transfer or zero interest on some purchases offer if the balance has to be paid in full to avoid interest on other items.

But the terms are clear enough.

Until a promotional offer is taken out, some users are paying in full each month, and some are not. The latter category don't really suffer if they take out a new zero interest offer on the same card, as they would still incur interest on the rest anyway. OK, it's not necessarily the best way, if they have more than one account ...

But those who normally clear need to take a bit more care to understand things and act accordingly. That is the fair warning of this and similar threads, but not a conclusion that any con is involved.

phillw

Deleted_User wrote: »

Given they've refunded the charges, it might be a card to hang onto. Most wouldn't.

I got caught out on a sainsburys credit card and clearing the balance and setting up a direct debit to pay the full balance meant they agreed to wipe it.

Mine was a 0% purchases card, so I wasn't mixing anything. The problem I had was that transactions that went through after the long 0% ended didn't get the standard 30 days 0%, because I had a balance left on the previous statement due date. Even though they weren't charging interest on that balance & I paid that part of the balance when the 0% ended. That was a while ago, I don't know if it was a bug in their software to their favour, or whether it was their policy.

I wouldn't keep a card because they wiped off the charges as they tend to do that only once and I can close and reopen the card for new customer perks and hopefully they'll forget they wiped them off before. Now the card is just a standard card, then you probably won't need them to wipe off this type of charge anyway.