Starting credit limit on a Tesco foundation card

biged670

Hello,

is anybody who currently owns a Tesco foundation card able to share what their starting credit limit was/is?

Everything I read seems to be £250, just wondering if anybody has been given anything more?

Paul_01

I've seen a lot of mentions of the £250 starting limit, but also a few people saying they received a higher starting limit.

If you take a look at the 'Are they just chucking credit at people now?' thread, they mention a starting limit of £500.

There also seems to be contradictory information relating to the timing of credit limit increases - I've seen reference to 12 months before an increase can happen, but also a thread a few weeks ago had a few customers referring to an increase after 4 months. All seemed to rise from £250 to £600.

onthefencepost

I'm a foundation card holder and can agree with the above.

I started of at £250 and after my fourth statement i got an increase to £600.
However Tesco's themselves when you call them will state the account is reviewed annually. I think this is for their non prime customers and maybe they are working to a different model to Foundation customers - similar to the likes of Aqua / Marbles.

biged670

Thanks both...

20aday

I started off with £250 and had an increase to £600 a couple of months ago.

It's on their website as: Lower credit limits starting from £250, which we’ll review regularly.

However it's typically around 12 months from account opening to see an increase in credit limits with Tesco Bank usually.

quackers82

I got £500 limit in December when i applied. But decided i would try my luck with them and applied for the normal Tesco card yesterday and got a £4300 limit and much lower APR.

Are you thinking of applying?

Andybez38

quackers82 wrote: »

I got £500 limit in December when i applied. But decided i would try my luck with them and applied for the normal Tesco card yesterday and got a £4300 limit and much lower APR.

You say you thought you would try your luck. Is there a reason you thought you would not get the "normal" credit card? Have you got defaults or bad credit files etc.

quackers82

Andybez38 wrote: »

You say you thought you would try your luck. Is there a reason you thought you would not get the "normal" credit card? Have you got defaults or bad credit files etc.

Have 4 defaults from 2012.

20aday

quackers82 wrote: »

Have 4 defaults from 2012.

Given the age of your defaults they'll have a less negative impact on your credit files/history than they would've done back in 2012/2013.

Great to see it's possible to move on from sub-prime lending.

biged670

quackers82 wrote: »

Are you thinking of applying?

I recently applied for 'normal' card with them but I was declined. Ever since I've been getting emails from Tesco saying I've been provisionally accepted for the Foundation card.