Closing Tesco Current Account

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bellabooski
bellabooski Posts: 164 Forumite
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in Budgeting & bank accounts
Hi everyone,
I want to close my Tesco current account. My question is, will I be able to keep my credit card and my unsecured personal loan open or will they make me pay them both off if I close the current account?
I've looked in the T&Cs and can't find anything that relates to my question.
Thanks so much in advance for any replies.

Bella:)
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  • cheesetoast
    cheesetoast Posts: 258 Forumite
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    Well you can get credit cards and loans with them without having a current account, so my guess would be that you should be fine.

    Why not call them to close the account, but ask them the question first?
  • colsten
    colsten Posts: 17,597 Forumite
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    Why close a Tesco current account when it's one of the top interest paying accounts?
  • jackieblack
    jackieblack Posts: 10,316 Forumite
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    colsten wrote: »
    Why close a Tesco current account when it's one of the top interest paying accounts?

    Especially when new accounts now come with less favourable terms
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  • EachPenny
    EachPenny Posts: 12,239 Forumite
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    jackieblack wrote: »
    Especially when new accounts now come with less favourable terms

    There should really be a market where people can buy and sell second-hand current accounts :D
    "In the future, everyone will be rich for 15 minutes"
  • bellabooski
    bellabooski Posts: 164 Forumite
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    Thanks everyone for your prompt replies. I've taken on board your comments
    :)
  • 20aday
    20aday Posts: 2,610 Forumite
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    I've held credit cards and currently have a loan with Tesco Bank and that's before I opened a current account with them.

    It's worth pointing out if you shop in Tesco regularly you'll earn more Clubcard points when you spend on your Visa Debit card than you will with your credit card.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
  • teddysmum
    teddysmum Posts: 9,471 Forumite
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    edited 29 April 2017 at 5:38PM
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    Why close an account that costs nothing, with no hoops to jump through that will even pay you 3% guaranteed (for a while) ?
  • isasmurf
    isasmurf Posts: 1,999 Forumite
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    I know many of you will find this hard to believe but sometimes there are more important factors than what pays the highest rate on credit balances when making decisions about your finances.
  • nic_c
    nic_c Posts: 2,928 Forumite
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    They are separate products. I know some savings accounts can only be operated if you have a qualifying current account, but can't see this applying to CC & loans. What you may need to do is swap over the direct debits so that there isn't any missed payments.
  • EachPenny
    EachPenny Posts: 12,239 Forumite
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    isasmurf wrote: »
    I know many of you will find this hard to believe but sometimes there are more important factors than what pays the highest rate on credit balances when making decisions about your finances.

    ...Absolutely! There's also the cashback to think about. ;)
    "In the future, everyone will be rich for 15 minutes"
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