Tesco foundation card...cash transaction fee

dazzaofdagenham

Good morning

I have a Tesco foundation card....ok previous bad credit ...it’s only been open for 6 weeks

I used the card top up my daughters “squid card” which is in school catering, for food and snacks etc...they don’t use cash much nowadays in schools.

So unknown to me this has attracted a cash transaction fee, speaking to Tesco it seems they treat it this way and has generated a fee.

Will this look bad as the account is so new......I.e. it appears I have withdrawn cash from the card and attracted this fee.

[Deleted User]

Not particularly.

Just use a debit card going forward.

dazzaofdagenham

Deleted_User wrote: »

Not particularly.

Just use a debit card going forward.

I only used it to set up a auto topup for the extra Clubcard points.

Assuming then as this will also attract a 8nterest charge on my next statement.

Lesson learnt

dazzaofdagenham

I!!!8217;m assuming then that this will generate a interest fee.

Am I charged interest on the fee or the original transaction......or both

Thanks

[Deleted User]

You'll need to check your terms. Some cards charge interest on fees, some don't.

Pedr057

I just checked my latest statement and found a cash transaction fee and interest on it. I phoned the customer line and they told me the Ts&Cs had changed in April so that all payments to financial institutions are now classed as cash advances. When I said they should have made that clear I got the usual "we told you the Ts&Cs had changed." I've asked Tesco to send me a copy of the Ts&Cs and I've raised a complaint and thinking of closing the account.


Are all the credit card companies doing this?

[Deleted User]

Not all.

Make sure you read changes to terms. They often contain interesting information.

dazzaofdagenham

So statement generated today, had interest applied for cash transaction.

Lesson learnt..
Won!!!8217;t be doing that agIn

dazzaofdagenham

Any else with a foundation card.

Can you share details of how long before they increase your credit limit

Willing2Learn

Hi,

I don't have one of those cards but can say from experience that most cards for bad credit normally offer a credit limit increase after six months or so. But only if the card has been used properly of course...

scragend

Tesco have gone very aggressive recently on what they deem to be a "cash transaction". See the debacle over the way they have treated Curve Card users; I should imagine they've lost a lot of goodwill over that, they certainly have from the Curve users I've interacted with on here, the Tesco community and on Twitter.

If I hadn't just started a 32 month 0% purchases deal with Tesco when it all kicked off, I'd have ditched Tesco like a shot.