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This Tesco Bank credit card lets you balance-transfer at a low 6.05% interest rate for the life of the balance, with no fee as long as you transfer within one month. As a bonus, there's 0% interest on your transfer for the first month.
- You must balance-transfer within the first month; transfers after this attract a 3% fee.
- You can't transfer a balance from another Tesco credit card, or apply if you hold more than one Tesco credit card already.
- Some poorer credit scorers accepted for the card will be charged up to 11.5% on balance transfers, which isn't such a good deal.
- This card also has a low rate on spending, charging 5.9% rep APR – though again, you get the first month at 0%. Poorer credit scorers could be accepted for the card but charged a higher APR, up to 10.9%.
- Always pay the monthly minimum payment or you'll get a penalty for late payment and a mark on your credit file.
- Don't withdraw cash on this card. It isn't at the cheap rate and cash withdrawals hit your credit file.
- Balance transfer rate & fee: 6.05%, no fee
Minimum payment: Greater of 1% of balance plus interest or £25
- Min income: N/A | Card issuer: Mastercard | Time limit: One month
- Rate: 5.9% representative APR (see Official APR Examples)
A nonsense piece of regulation means we have to tell you if you were to spend £1,200 at an annual interest rate of 5.9% (variable) your Representative APR would be 5.9% (variable).
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