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Tesco Bank launches new 0% period on balance transfers

Today, Tesco Bank has introduced a new 0%, 22 month period, for balance transfers on the market-leading Tesco Clubcard Credit Card. This outstanding new balance transfer period is available with a highly competitive fee of 2.9% and gives customers the additional value of 0% interest on purchases for six months.

As a thank you for their loyalty, Tesco Bank gives Clubcard Credit Card customers Clubcard points on all of their spending - receiving one point for every £4 spent on their card.  The Clubcard Credit Card also doubles as a Clubcard in Tesco stores allowing customers to earn five points for every £4 spent, making it the perfect way to spend and earn additional points.*

David McCreadie, Managing Director of Banking at Tesco Bank, commented,

“Tesco Bank aims to offer customers great value financial products and excellent customer service.  The Clubcard Credit Card has consistently topped purchase offer best-buy tables and our new balance transfer further enhances this product for Tesco customers.

“We are committed to serving our customers fairly over the long-term. As a ‘thank-you’ we reward our customers’ loyalty through Clubcard and last year customers exchanged over £100 million worth of Clubcard points from their credit cards.  This makes the Clubcard Credit Card unique in terms of both value and reward.”

--ENDS--

For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

Notes to Editors:

* One Clubcard point is awarded per £4 spent in each purchase transaction (£4 minimum). Must have available credit.
Clubcard points not received on balance transfers.
Points exclusions apply to certain products in Tesco stores – see tesco.com/clubcard for more information.

The Clubcard scheme is administered by Tesco Stores which is responsible for fulfilling points.

The Clubcard Credit Card currently offers 2 options to customers:

  • 0% on Balance Transfers for 22 months (2.9% Fee )with 0% on purchases for 6 months from account opening,
  • 0% on purchases for 16 months with 0% on balance transfers for 9 months (2.9% fee) from account opening.

Customers can transfer 95% of their credit limit.
Representative example: 16.9%APR representative (variable) - Based on a credit limit of £1,200** - Purchase rate of 16.9% p.a. (variable).
**Your credit limit may vary depending on your circumstances. The Tesco Clubcard Credit Card is available to over 18, UK residents only, subject to status.

About Us:

Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco. We’ve been around since 1997 and today we help more than 5 million customers manage their money every day. Our 4,000 colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow and Newcastle, and we are also available through online and mobile banking 24/7. Tesco Bank participates in the Chartered Banker Professional Standards Board.

Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ

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