If you’re looking to transfer a sizeable credit card balance in order to take a break from paying interest on it, Tesco Bank should definitely be on your radar. Many of Tesco Bank’s credit cards also offer lengthy 0%-on-purchase deals alongside their balance transfer offers and allow you to earn Tesco Clubcard points on purchases. Some cards also allow 0% money transfers from your credit card to your current account, which could be useful if you’re consistently stuck in your overdraft.
Tesco Bank 0% balance transfer credit cards
Table: sorted by representative APR, promoted deals first
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
You can apply for a Tesco credit card via the Tesco Bank website. The application takes around 10 minutes to complete. You’ll need to provide personal information, bank details and information about the balances you want to transfer.
You’re promised a decision on your application within 10 minutes. It’s possible you may be approved for a credit card with different terms depending on how your personal circumstances were assessed.
You’ll receive your card within five to seven days. You’ll have to activate it by calling Tesco Bank or using its mobile app.
Once you activate your card, Tesco Bank will begin the process of transferring existing balances over to your new card. This can take two to three working days. You should continue making payments to your old credit card until the transfer is complete.
You can arrange additional balance transfers whenever you like, but the 0% introductory deal only applies to balances transferred within 90 days of activating your card.
How long does a Tesco balance transfer take?
Balance transfers you request during your card application won’t take place until your credit card is activated. You can expect the process to take two to three days, once your card has been activated. Additional balance transfers will also take between two to three days to complete.
How should I compare Tesco balance transfer deals?
Here are some of the key features you’ll want to look at when deciding which Tesco Bank balance transfer offer might be the best option for you:
Length of 0% period. Tesco Bank has one of the longest fee-free 0% balance transfer deals on the market. If this card has a 0% period long enough for you to clear your balance, it’s likely to be your best choice. If you need a longer 0% deal, there are other cards to choose from. Bear in mind that longer 0% deals come with larger balance transfer fees, so go with the shortest deal that’ll allow you to pay off your balance in full.
Balance transfer fee. This is expressed as a percentage of the balance being transferred. The fee is deducted from your credit card balance.
0%-on-purchase deals. Many Tesco Bank credit cards also have lengthy 0% deals on purchases. If this appeals, opt for a card that includes it. Remember, your 0% deals on purchases and balance transfers might have different lengths.
Standard rate. This is the rate you’ll pay on purchases and balance transfers outside of your 0% periods.
Bottom line
If you’re hoping to have a break from paying interest on your debt with a balance transfer credit card, check out Tesco Bank’s offerings.
Lengthy 0% balance transfers tend to come with bigger balance transfers fees so be sure to compare deals to make sure you find a credit card that works for you and your situation.
Other frequently asked questions
You can transfer any amount between £100 and £19,000, provided it doesn’t exceed 95% of your credit limit. Your credit limit will be set by Tesco and based on its assessment of your financial circumstances.
You’ll pay interest on all transferred balances after your 0% introductory period ends. If you transfer a balance after 90 days of card ownership, you’ll start paying interest on this immediately. If you go overdrawn or miss a minimum repayment on your credit card, your 0% deal will be closed early and you’ll start paying interest on your remaining balance.
Money transfers involve transferring money from your credit card to your current account. These offers are structured in a very similar way to balance transfers, but can usually be accessed online by the account holder. Although less widely used, these deals arguably offer more flexibility.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio
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Everything you need to know about Tesco Bank’s Balance Transfer Credit Card – live rates, fees, credit limits and eligibility, plus a side-by-side comparison with a range of similar options from other lenders.
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