Tesco Bank credit cards, loans and savings to be bought by Barclays – here's what you need to know

Bridlington1

This one may not end well for me. I received a lifetime ban from Barclays in 2022 and currently hold a credit card with Tesco. Whilst there's no changes for Tesco customers now, I'm wondering if my Barclays lifetime ban will eventually spread to Tesco as a result of the take over? If so then I would most likely see them closing my credit card.

Volcane

I can’t say “how” I received them as such, I just did. Tbh I just assumed these were the normal rates until now. I suppose they are tailored to individuals and the public will never know the algorithms.

WillPS

Bridlington1 said:

This one may not end well for me. I received a lifetime ban from Barclays in 2022 and currently hold a credit card with Tesco. Whilst there's no changes for Tesco customers now, I'm wondering if my Barclays lifetime ban will eventually spread to Tesco as a result of the take over? If so then I would most likely see them closing my credit card.

Too soon to tell - could honestly go the other way too, you get moved over and that forces the marker on your profile to be removed.

Another possibility, although not seen in Barclays' takeover playbook previously, is that they keep the Tesco Bank operation somewhat separate to the main Barclays platform.

Either way, it could also be several years away.

pochisoldi

Expect a bodge fest as they move the Tesco Bank products onto Barclays IT.
Their current IT is creaking. I could probably raise 10 complaints, then receive compensation between £25 to £50 for each one, with the issue left unresolved.
Their complaints department only exists to ensure that the "closed within 8 weeks" box is ticked, with the underlying issues never actually fixed. My latest complaint has been ongoing for just shy of 4 months, and they still haven't fixed it, however the compensation received thus far makes them far more profitable than any other cashback/rewards scheme..

WillPS

pochisoldi said:

Expect a bodge fest as they move the Tesco Bank products onto Barclays IT.
Their current IT is creaking. I could probably raise 10 complaints, then receive compensation between £25 to £50 for each one, with the issue left unresolved.
Their complaints department only exists to ensure that the "closed within 8 weeks" box is ticked, with the underlying issues never actually fixed. My latest complaint has been ongoing for just shy of 4 months, and they still haven't fixed it, however the compensation received thus far makes them far more profitable than any other cashback/rewards scheme..

Are you saying Tesco Bank's IT is creaking or Barclays' is? I think the truth is both have weird characteristics.

[Deleted User]

pochisoldi said:

Expect a bodge fest as they move the Tesco Bank products onto Barclays IT.
Their current IT is creaking. I could probably raise 10 complaints, then receive compensation between £25 to £50 for each one, with the issue left unresolved.
Their complaints department only exists to ensure that the "closed within 8 weeks" box is ticked, with the underlying issues never actually fixed. My latest complaint has been ongoing for just shy of 4 months, and they still haven't fixed it, however the compensation received thus far makes them far more profitable than any other cashback/rewards scheme..

You sound like an ideal candidate for getting your banking relationship terminated. 
Not a great loss given it's Barclays but none the less.

[Deleted User]

Bridlington1 said:

This one may not end well for me. I received a lifetime ban from Barclays in 2022 and currently hold a credit card with Tesco. Whilst there's no changes for Tesco customers now, I'm wondering if my Barclays lifetime ban will eventually spread to Tesco as a result of the take over? If so then I would most likely see them closing my credit card.

I would wait and see rather than jumping ship now unless it been reported externally e.g. CIFAS.

pochisoldi

[Deleted User] said:

pochisoldi said:

Expect a bodge fest as they move the Tesco Bank products onto Barclays IT.
Their current IT is creaking. I could probably raise 10 complaints, then receive compensation between £25 to £50 for each one, with the issue left unresolved.
Their complaints department only exists to ensure that the "closed within 8 weeks" box is ticked, with the underlying issues never actually fixed. My latest complaint has been ongoing for just shy of 4 months, and they still haven't fixed it, however the compensation received thus far makes them far more profitable than any other cashback/rewards scheme..

You sound like an ideal candidate for getting your banking relationship terminated. 
Not a great loss given it's Barclays but none the less.

I (infrequently) complain, the bank doesn't fix the issue, and pays me money to go away.  If I complained about every single item (like a recent fees statement that says I paid £65 over 12 months for Barclays Blue rewards, when in reality I only paid £60), it would be like a second job. I mean if your bank can't get their figures right, it tells more about the bank's incompetence, than my patience.

pridehappy

I hope they don’t transfer products in the future - I’m not a fan of Barclaycard for multiple reasons. I’ve had a Tesco Bank Credit Card for years but heard worse things about Barclay’s as a whole, plus their environmental policies leave a lot to be desired…

WillPS

pridehappy said:

I hope they don’t transfer products in the future - I’m not a fan of Barclaycard for multiple reasons. I’ve had a Tesco Bank Credit Card for years but heard worse things about Barclay’s as a whole, plus their environmental policies leave a lot to be desired…

Even if they don't touch the systems, merge any banking licenses or anything like that - they'll still own it, so surely any environmental policy concerns would apply immediately?

For what it's worth, Tesco aren't exactly esteemed for their own environmental practices; they've never traded on being 'ethical' or whatnot (either the bank or the group, aside from some standard greenwashing stuff).