Tesco Bank Launch Newest 0% Interest Rate Credit Card

Thursday, September 22nd, 2016 CharlieStelling Money, News


Tesco Bank have unveiled their new 0% interest rate credit card which surpases the interest free period of other similar length credit card including the likes of Sainsbury’s, Post Office and M&S.The  new zero length redit card is available interest free for 28 months as opposed to the current next-best of 27, offered by similar cards.

 

The 28 month interest free period is only available to those who pass a credit check –  if you have a low credit score and unable to pass this, you may only have the 22 or 25 month options available (which isn’t as good as similar cards).

 

If you do a lot of shopping at tesco you can also benefit from earning additional clubcard points for using the card in store. For every £4 you spend at Tesco you will earn 1 clubcard point on top of the usually points that you can incur. Although this is subject to change. Outside of tesco if you use the card, you can earn 1 point for every £8 you spend.

 

These cards are good for making large purchases and spacing out repayments. But make sure you have budget for the repayments and can afford to repay the debt.The assumed credit of this card is £1,200

 

Rules for credit cards

Make sure you always repay the minimum repayment amount for the month (preferably more).

Avoid money / balance transfers as cards usually only cheap for making purchases.

Repay the outstanding credit on your card before the end of the 0% interest rate expires (or do a balance transfer and switch cards). Otherwise the rate jumps to the rep APR.

 

To read more about their new card, visit their official page.

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