Tesco card 0% transfer

deplatfomed

Hi everybody, 3 months ago I used the transfer offer from Tesco and now they charge interest on any spending the card is used for even though the balance is under the 0% figure and the spending and more is repaid every month. I queried this with them and they say all spending is charged interest once a balance is transferred with no interest free period, so just a heads up if you transfer a balance with Tesco make sure you don't use the card for spending.

[Deleted User]

It's standard on all but a couple of cards, so unless you're sure of what you're doing, don't mix purchases with a BT.

deplatfomed

I've never had this problem before, probably I've never mixed use before. Just goes to show you need to read the small print, even more so if money is tight and options are limited. Fortunately that's not the case for me, lesson learned.

confused.com2

Sorry confused by your post! You have an interest free balance transfer that you are now being charged interest on as you've used your card for spending?

Ebe_Scrooge

confused.com2 said:

Sorry confused by your post! You have an interest free balance transfer that you are now being charged interest on as you've used your card for spending?

Exactly that.  As ZX81 says, that's standard practice on almost every BT card.  That's why the advice is never to spend on a BT card.  Put simply, any spending will incur interest, it's just that interest is waived if you clear the whole balance at the end of the month.  Since the OP didn't clear the balance, the interest was (correctly) charged.

confused.com2

Ebe_Scrooge said:

confused.com2 said:

Sorry confused by your post! You have an interest free balance transfer that you are now being charged interest on as you've used your card for spending?

Exactly that.  As ZX81 says, that's standard practice on almost every BT card.  That's why the advice is never to spend on a BT card.  Put simply, any spending will incur interest, it's just that interest is waived if you clear the whole balance at the end of the month.  Since the OP didn't clear the balance, the interest was (correctly) charged.

Oh right, I didn't realise this happened! So interest is accruing on the balance transfer balance and the spending balance? I only use my card for balance transfers which is clearly a good idea!

deplatfomed

Interest is only being charged on the spending not on the balance transfer.

MalMonroe

I also have a Tesco balance transfer card at 0%.  I think Martin has said so many times to try not to use BT cards for spending that I just never thought it was a good idea. Obviously it is possible but of course, as the OP says, at a cost. And now I'm feeling brainwashed . . .