Tesco Credit Card won't provide me with copy of Ts and Cs

molerat

MrFrugalFever said:

Sounds like Tesco have treated it as a ‘cash-like” transaction with an MCC to go with it. If you can prove that the MCC was not in the category of cash-like transactions then you may have a case, until then it is likely you’ll have to suck it up.

Unfortunately OP will need to ask the broker and / or Tesco what MCC was used as that information doesn't appear on statements or the app.  Of my cards only LBG and Virgin show the information.

Most cards have widened their definition of cash like transactions but Tesco seem to have for a long time had the widest covering of that term.

eskbanker

molerat said:

MrFrugalFever said:

Sounds like Tesco have treated it as a ‘cash-like” transaction with an MCC to go with it. If you can prove that the MCC was not in the category of cash-like transactions then you may have a case, until then it is likely you’ll have to suck it up.

Unfortunately OP will need to ask the broker and / or Tesco what MCC was used as that information doesn't appear on statements or the app.  Of my cards only LBG and Virgin show the information.

Most cards have widened their definition of cash like transactions but Tesco seem to have for a long time had the widest covering of that term.

Tesco do include MCCs for credit card transactions on their data downloads, which are more comprehensive than the information displayed on statements and online/app.

hbrook

I used the Tesco CC to pay the mortgage product fee in 2018. Tesco bank applied it as a cash transaction and charged interest fees.

When I raised it with customer support they admitted there was confusion at the time with it being a common complaint and they were going to update the terms and conditions to make it clearer. Tesco bank did refund the fees they charged.

I can't comment on the broker charges as I've never used a broker.

born_again

Roger-D said:

So, thank you to tizerbelle for the link to the Ts and Cs. I had tried but hadn't come across these previously.

Having a read, I still cannot see that my transactions should have been charged for though.

For those asking, the transactions were:
- paying a mortgage broker (imo the same as paying for any verbal service, eg a therapist etc) 3x occasions
- paying the mortgage product application fee (again, by definition it is a 'product'). I am not 'buying' cash. Simply purchasing something.

All of the above I could as easily have paid for out of my current account. Needless to say, pretty Ped of with the charges and associated interest fees incurred.

Odds on broker has a MCC listed as "Member Financial Institution–Merchandise And Services" 6012. Which will be cash based. As these are financial products, they are often classed as a "Cash" payment.
Depends on the Card Provider.

martinbainbridge1975

submit a SAR and wait for the final response, the ombudsman will only get involved once you have a final response letter

Roger-D

Update on this thread.

I put a complaint in to Tesco about the charges and interest paid. They refused. They did however say that I could try the Financial Ombudsman, which I did.

Low and behold, the Ombudsman found in my favour. Tesco apologised and refunded all fees and interest paid plus, an additional £50 as a 'sorry for your inconvenience' or thereabouts.

It seems, they were just trying it on.

A warning / tip to everyone else who may face this farce from Tesco.

HillStreetBlues

Thanks for the update and well done.

cymruchris

Good outcome. Thanks for the update.