Stoozing with Tesco CC with current account

binaryuniverse

The other day I applied for a Tesco current account, in order to make use of the 3% on balances up to £3000. That appears to have been accepted.
Also today, I realised that, despite me already having a 0% Balance Transfer card, also with Tesco, I could apply for another for purchases. So I did and, to my surprise, was accepted.

So, my plan is to get stoozing. However, as both the current account (which isn't my main account, but I intend to fill up) and credit card are with the same provider am I am just wondering what Tesco are like with regards to offsetting. I'll be paying off the minimum, each month, whilst probably throwing ~£400 in to the current account.

Also, has anyone tried swapping balance limits on cards by the same provider? The limit on the purchases card is less than half the BT card, which I won't be using, so it'd be a great help if I could switch them around.

YorkshireBoy

So long as you're making at least the minimum payment on the credit card, they won't raid the current account for more.

Tesco will not swap limits from card to card. Been there, tried it, no go!

binaryuniverse

Cheers for that. That's pretty much what I was hoping, on the first question.
Shame about the second one. But hey ho. I'm pretty happy about the fact I've got one at all.

Superscrooge

I can also confirm Tesco won't swap limits on credit cards.

I had an old Tesco CC with a £6k credit limit where the promotional period had expired.

I was accepted for a new Tesco BT card but only with £1800 credit limit. Tesco wouldn't swap limits or increase the credit limit on the new card even when I closed the old one.

Candyapple

YorkshireBoy wrote: »

So long as you're making at least the minimum payment on the credit card, they won't raid the current account for more.

Tesco will not swap limits from card to card. Been there, tried it, no go!

They do merge limits. You need to call up customer services and ask to be put through to the underwriting team. I had an old BT card with them that had expired and was on zero balance and took out a new 0% purchases one with them.

The new purchases card had a much lower limit than the BT card so I asked them to move the limit from the old BT card onto the new 0% purchases card. They calculate an amount based on APR, mine ended up being 95% of the old limit of the BT card added onto the new card's limit.

My partner has also done the same so it's not a one-off.

binaryuniverse

Well it sounds like there's no harm in asking. So I'll get on to that once the ink has dried.
Just checked my Tesco Online account and it appears to have been set up with credit card number and available credit. So all looking good on that side of things.

Now to await the bank account confirmation. If I don't get that one I may look to Nationwide.