Low Fee Balance Transfer Credit Card
With 18 months no interest to pay on balance transfers
Interest on balance transfers for 18 months (low 0.99% fee)
Interest on money transfers for the first 9 months (3.99% fee)
About this card
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You can use a balance transfer credit card to help you pay off existing debts faster.
What this card gives you
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Low fee on balance transfers at 0.99%
18 months of 0% interest on balance transfers from when we open your account with just a low 0.99% balance transfer fee.
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0% interest on money transfers for 9 months
You can transfer money from your credit card and pay it into your bank account. If you do this, you’ll get 0% interest on the amount you transfer for 9 months from account opening with a 3.99% transfer fee.
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Interest on purchases
You may receive higher than our standard purchase rate of 24.9% p.a. (variable) upon application — up to 29.9% p.a. (variable), depending on your circumstances.
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Collect Clubcard points
Collect points almost everywhere you spend using your card, plus your usual points in Tesco. For more information see Credit Card Rewards.
Good to know
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Using your card for purchases
We won’t charge any interest on the purchases you make if you pay off the balances that aren’t on a 0% rate in full every month. Your monthly statement will show how much you need to pay to avoid paying interest on any purchases.
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You can transfer up to 95% of your available credit limit
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Get your transfers at a 0% interest rate
To get the 0% interest rate you’ll need to make your transfers within 90 days of opening your account.
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Our Credit Card jargon buster
Learn all the terms worth knowing with our quick-fire guide - you’ll be a credit card pro in no time.
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It’s simple to manage your money on the go with our Mobile Banking App and Online Banking.
Representative example
Your APR and credit limit may vary depending on your circumstances.
Credit card FAQs
A balance transfer credit card is a credit card that lets you transfer the balance from one or more other cards. You can then keep those debts in one place and make one monthly payment for them all, so depending on your situation, it could be easier to keep track of them.
Our Tesco Bank Low Fee Balance Transfer Card has a 0% interest rate for 18 months from the date of account opening, with a 0.99% transfer fee. Having a 0% interest period could help you get a head start on paying back the money you owe.
You can also use our balance transfer card to transfer money from the card to your bank account and enjoy 0% interest on it for 9 months from account opening. You can transfer up to 95% of your credit limit and there will be a 3.99% transfer fee for moving money from your card, and you can pay your balance back the same way you would a normal credit card.
After the 0% interest time period is up, you will be charged at whatever Annual Percentage Rate (APR) you were offered with the card.
Your credit limit and APR may vary subject to your individual circumstances. You can transfer up to 95% of your available credit limit. To get the 0% interest rate you’ll need to make your transfers within 90 days of opening your account.
First you need to choose and apply for the balance transfer card that best suits you. Once you have been approved, you can give the details of the other credit card balances you’d like to transfer.
If you choose our Tesco Bank Low Fee Balance Transfer Card, we'll transfer the balances for you. It may take a few days and you should make any payments due on your old cards up until we tell you the transfer is complete. Then you’ll be ready to start paying your debts off on your new card. Be sure to take a note of when your 0% percent interest rate will end too.
Depending on your personal circumstances, a balance transfer card could make it easier for you to organise your finances by:
- Consolidating all your credit card debt so you only have to make one minimum payment a month
- Having an introductory 0% interest period so you can start paying off your debt without also paying interest on existing balances
- Transferring your debt onto a balance transfer card is simple and we can transfer your existing balances for you
- You can use your balance transfer card to make purchases and you won't be charged interest if you pay off all balances that aren't on a 0% rate in full each month
Once the 0% interest period ends, you'll be charged interest on the amount of money you still have to pay back. This Annual Percentage Rate (APR) is set out at the time you are approved for the card. To pay as little interest as possible on transferred balances, it’s best to try to pay off your debt within the 0% interest period.
Tesco Bank Credit Cards are available to UK residents aged 18 and over. Subject to status.
Tesco Bank Credit Cards are provided by: Tesco Bank, PO Box 344, Newcastle Upon Tyne, NE12 2GF.
Our banking business has now transferred to Barclays
Barclays will continue to use the Tesco Bank brand on all existing Tesco Bank banking products through a long-term strategic partnership with Tesco. If your application is successful, there’ll be no immediate changes to how you use and manage your account on a day-to-day basis.
To find out more and view a range of helpful documents just go to tescobank.com/transfer-scheme.