credit card remaining balance rate?

Ara1985

I took a Tesco 0% balance transfer and purchase card last year.
Last month I received 2 emails regarding rates, on the same day

The first one read: Expiry of introductory rates on your Tesco Bank Credit Card account

The introductory rates on your account for Purchases and Balance Transfers are coming to an end. With effect from 10 September 2018 the cost of borrowing for any outstanding balances linked to these introductory rates will increase to the standard rates shown below.

Monthly Rate Simple Annual Rate
Purchases 1 .456% 17.472%
Balance Transfers 1.575% 18.900%

The Second Email:
As part of our ongoing service, we are writing to let you know the rates and charges that will apply to balance transfers and money transfers made until 7th September 2018. These rates are personal to you, are not transferable and do not require a promotional code.

Your balance transfer rate
0% interest on balance transfers
until your September 2019
statement (2.99% fee, min.£5)


Your money transfer rate
0% interest on money transfers
until your September 2019
statement (3.99% fee, min.£5).

I am confused as to what rate now applies to the balance I have on the card which is a combination of a balance transfer and a few purchases made over the past year?

Willing2Learn

To me, I would interpret that to mean your existing promotions is about to expire (1st email), and that they offering you new promotions in your 2nd email. I would probably phone them to confirm though...

BoGoF

Your existing balances will move to the rates specified in e-mail 1.

E-mail 2 would have been in respect of new purchases/transfers.

If you cannot clear the existing balances I woukd suggest applying for a new 0% balance transfer card with another provider.

Craig1981

BoGoF wrote: »

Your existing balances will move to the rates specified in e-mail 1.

E-mail 2 would have been in respect of new purchases/transfers.

If you cannot clear the existing balances I woukd suggest applying for a new 0% balance transfer card with another provider.

agreed - 2nd email will be for new purchases and transfers, not current ones. The current balances will revert to the standard APR interest rates as per email one

Ara1985

Thanks for the above. Just applied and been approved for a new card