Tesco credit card: what is the better one?

Make an informed decision with our guide

If you’re considering relying on a financial tool for emergencies, how about getting a Tesco credit card? This is one of the most popular options in the market, offering extra services that might pique your interest.

In this guide, you will learn about Tesco Bank and what makes it so special for its customers. Read on to understand if this is the right choice for your financial needs. Check it out!

Who is Tesco Bank?

Tesco Bank is the financial arm of the renowned British multinational grocery and general merchandise retailer, Tesco. Established in 1997, Tesco Bank has since become a significant player in the financial services industry, offering a range of products, including insurance, loans, and credit cards.

What are the features?

Getting to know Tesco Bank is the first step in considering whether this is the ideal company to do business with, but understanding its features is equally important. Therefore, below, we’ve outlined some of the functions that make this financial institution so intriguing in the UK market.

1. Clubcard points

One of the standout features of the Tesco Credit Card is its integration with the Tesco Clubcard loyalty program. Cardholders can earn Clubcard points on their everyday purchases, both at Tesco and elsewhere.

These points can then be converted into vouchers, offering discounts on future Tesco purchases or even with Tesco’s partners.

2. 0% interest periods

The Tesco Credit Card often comes with introductory offers, including 0% interest periods on purchases and balance transfers. This feature can be particularly beneficial for those looking to make significant purchases or consolidate existing credit card debt.

3. Fraud protection

Tesco Bank prioritizes the security of its customers. The Tesco Credit Card comes with advanced security measures, including fraud protection, to safeguard against unauthorized transactions. Customers can also set up alerts to receive notifications about unusual activity on their accounts.

4. Flexibility in repayments

Tesco Bank understands the importance of flexibility when it comes to repayments. Cardholders have the option to make minimum payments or settle the full balance each month, providing financial flexibility based on individual circumstances.

Is it possible to use my Tesco credit card as a Clubcard?

Absolutely! A significant perk of having a Tesco credit card is the accumulation of Tesco Clubcard points with every purchase. It’s not limited to Tesco shopping – whether you’re making purchases online, in-store, or even at the gas station, you’ll earn points.

These points can accumulate rapidly and can later be converted into vouchers, which you can utilize in-store, for Tesco fuel, on tesco.com, or with various Clubcard Reward Partners. The list of partners includes a variety of retailers who gladly accept these vouchers, offering you a range of options for redeeming your rewards.

How to choose the best Tesco credit card?

Selecting the ideal Tesco credit card hinges on your specific needs and financial management preferences, taking into account factors such as the purpose of the card and your financial situation, including your credit score.

If your goal is to distribute payments for a significant purchase over several months, a purchase credit card could be a suitable choice. Opting for a Tesco Bank balance transfer credit card may be the preferred route if you aim to transfer debt from elsewhere to take advantage of a lower interest rate.

Alternatively, if you require funds in your current account, applying for a money transfer card might be a strategic decision.

Tesco also provides credit cards that amalgamate these features. For instance, you might seek a card for both spending and debt consolidation. A combined credit card can offer favorable interest rates for both purposes.

Moreover, Tesco Bank extends its offerings to include a credit card designed for individuals with a less-than-ideal credit history, often referred to as a credit builder card.

Apply for a Tesco credit card: step-by-step

1. Visit the Tesco Bank website

Begin by visiting the official Tesco Bank website. Navigate to the credit card section to explore the various options available. Tesco offers different types of credit cards, each designed to cater to specific needs. Take the time to review the features and benefits of each card to find the one that best suits your requirements.

2. Choose your credit card

Select the Tesco credit card that aligns with your financial goals. Whether you’re looking for a card with rewards, a low-interest rate, or specific features like balance transfers, Tesco has a variety of options to meet different needs.

3. Check eligibility

Before initiating the application, it’s advisable to check the eligibility criteria for the chosen credit card. Ensure that you meet the requirements, which may include factors such as:

• Aged 18 or over;
• A UK resident; 
• Have proof of income or affordability.

4. Complete the online application

Once you’ve chosen the Tesco credit card and confirmed your eligibility, proceed to the online application form. Provide accurate personal information, including your name, address, employment details, and financial information. Take your time to fill out the form carefully, ensuring the accuracy of the details.

5. Submit required documents

Some credit card applications may require additional documentation to verify your identity and financial standing. These documents may include proof of income, proof of address, and identification documents. Be prepared to upload or submit these documents as part of the application process.

Remember that your acceptation depends on some factors, such as:

• Your credit score;
• Your income and outgoings;
• Tesco Bank’s own internal approval criteria.  

Upon approval, expect to receive your Tesco Bank credit card within 5-7 working days from the acceptance of your application. Your PIN will be delivered separately within 3-5 working days.