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Tesco Bank Premium Credit Card

Tesco Bank Premium Credit Card

? customer score 69%

Represent­ative APR (variable) Purchase interest p.a. Cash withdrawal APR Annual card fee
The interest rate for borrowing that at least 51% of the customers accepted will pay.
The annual interest rate you'll pay on new purchases.
The interest rate you'll pay on cash you withdraw from an ATM.
The fee you'll pay for having the card each year, if any.
56.5% APR 19.94% 24.94% £150
  1. This credit card has a high representative APR of 20% or more so borrowing with this card is expensive compared to others.
  2. This credit card has a high annual fee of more than £25, making it more expensive to use overall than others with the same APR.

Reward scheme details

0% interest periods apply from account opening. Enjoy Tesco Banks's best Credit Card Clubcard points collection rate, and if you spend £5000 on your card in Tesco in any year you’ll collect 5000 additional Tesco Clubcard points. Terms apply. Make the most of your Clubcard points across a wide range of Tesco Clubcard Partners – from meals out with the kids to using towards that dream holiday. If you’re aged under 70, you’ll get annual worldwide travel insurance for you and your immediate family members (under 70) provided by Ageas Insurance Ltd. Receive £50 Tesco Gift Card when you make a purchase or balance transfer on your new card within the first 2 months of opening. Apply online and get a decision within 60 seconds. You can still apply even if you have a Tesco Bank Credit Card already.

Representative Example
Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 19.9% (variable), with a £150 annual fee, representative 56.5% APR (variable). Credit available subject to status.

Tesco Bank customer satisfaction scorecard:

How do we work this out?
Keeping you up to date with new deals Transparency of charges / penalties Online account management Customer service Overall customer score

69%

Good

We have not been able to rate this provider as our customer satisfaction survey didn't generate a big enough sample of its customers but we aim to rate as many providers as possible

Eligibility to open an account

Can be used for building credit rating No
Minimum income required to open account £25,000
Opening account is by invitation only No
Account is for existing customers only No
Further notes about eligibility You must live in the UK. You must have a good credit history. You cannot apply if you applied for a Tesco Bank Credit Card in the last month or currently have an application in progress. You don’t currently hold more than one Tesco Bank Credit Card or have a Tesco Premium Credit Card. You have not applied for a Tesco Bank Credit Card in the last month.
Minimum age to open an account 18

Intro balance transfers

Rate period 1 month
Annual interest 0.0%
Fee 0.0%
Fee min N/A
Fee max N/A
Limit period days 90

Intro purchases

Rate period 1 month
Annual interest 0.0%

Standard balance transfers

Annual interest 21.81%
Fee 3.0%
Fee min N/A
Fee max N/A

Standard purchases

Annual interest 19.94%

Standard cash

Annual interest 24.94%

Other features

Repayment details

Maximum interest free days (purchases) 56
Days to pay 20
Monthly payment min % 1.0%
Monthly payment min £ £25

Card charges

Returned payment fee £12
Late payment £12
If you exceed credit limit £12

Foreign usage

Foreign usage fee (Europe) 2.75%
Foreign usage fee (worldwide) 2.75%

Cash withdrawal fees

Charges for cash withdrawals Yes
Cash withdrawal percent 3.0%
Minimum charge £3

Available to manage

Online Yes
Branch Yes
Telephone Yes

Reward schemes

Reward is charity donation No
Reward is cash back No
Reward is Airmiles No
Reward is points Yes
Reward is vouchers Yes
Reward is travel No
Reward is Avios No
Reward is discount No

Repayment note

If you do not pay the total outstanding balance in full by the payment due date, the amount you pay will be allocated to higher interest rate balances before lower interest rate balances. Where fees and charges are payable, your payment will be allocated to the interest rate applicable to these fees and charges relating to any higher interest rates first.