The interest relates to a Balance Transfer which was carried out before the start of this Annual Statement period. The statement period start and end dates, can be found in the top right hand corner of your Annual Statement.
You can apply for a Tesco Credit Card online in 10 minutes, and you'll normally get a decision within 60 seconds. For security reasons, there is a 10 minute time-out on each new screen of the application, so if you leave the application idle after 10 minutes it will time out. If the application times out once you have been accepted, but before you have reviewed your Credit Agreement and Terms and Conditions, don't worry, you don't need to re-apply. We will send you a copy of your Agreement and Terms and Conditions in the post for you to sign and return in the free-post envelope provided. If you have provided us with your mobile number, we will send you a text 2 - 4 days after your application was accepted confirming delivery timescales.
You can use your Tesco Bank Credit Card anywhere that displays the Mastercard or VISA symbol that is shown on your card. You can also use your card to make purchases securely over the internet. If your card is contactless, you can use it for transactions for up to £30 when you see the contactless sign logo.
If you are going abroad on holiday, your Tesco Bank Credit Card is accepted in over 28 million places worldwide.
Please remember that fees apply when using your credit card overseas. To view MasterCard conversion rates, please visit https://www.mastercard.co.uk/en-gb/consumers/get-support/convert-currency.html.
For more information on using your Credit Card abroad, you can view the following FAQs:
What do I need to know before using my Tesco Credit Card abroad? How much do I pay on cash advances with a Tesco Bank Credit Card?
It’s important that you keep us informed if you change your contact details, for example your address, email address or mobile number. You can update your details by logging into Online Banking or calling us on 0345 300 4278* (or minicom 0345 671 0676). Our lines are open 24 hours a day, seven days a week and calls may be recorded.
Soon you may not be able to make purchases online with your credit card if we don’t have your current mobile number. Instead of using a password, we need your number to send you a code by text to make sure its’s you and keep your account as secure as possible.
If you have an additional cardholder on your account you will need to call us to provide their mobile number.
For step by step instructions, please see our existing online banking FAQ. (*This number may be included as part of any inclusive calls minutes provided by your phone operator)
There are a few ways you can check your credit card balance:
Log in to Online Banking and your balance will be shown on the Online Banking Overview.
Log in to the Mobile App and your balance will be shown on the main screen. If you’ve got more than one product with Tesco Bank you might need to scroll left or right to find your credit card.
Phone our customer services on 0345 300 4278* (Minicom 0345 671 3511*). Select option 2 for general enquiries. You will be asked to enter your 16 digit credit card number so please have this ready. If you’ve registered for Online Banking you will also need to enter selected digits from your Security Number. Then, select option 1, and your balance will be read out to you.
Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.
If you provided us with details of your balance transfer during your application, it will be processed once you activate your card. The balance transfer amount will be deducted from your available credit within 2 working days from when you activate your card.
Whilst the balance transfer is being processed, please continue to make payments to your other card. The balance transfer can take up to 3 working days to be completed (from when you activate your card).
Sometimes your payments might be declined, this could be because:
Insufficient funds. If there isn't enough available credit or you are over your limit then we may decline your transaction. Please check you have sufficient funds available to cover the transaction.
You could have pending payments available which impact your available balance.
An error with the merchant bank, something which we have no control over. If you have checked your available balance and there is sufficient funds available then you will need to query this with the merchant bank.
If this is an online transaction, please check you have entered your card details correctly. If anything is entered incorrectly then your transaction will be declined.
Occasionally we can decline a transaction as a fraud prevention measure. If we do this we will send you a text asking you to reply. If this is a genuine transaction you will need to confirm this. We recommend allowing 5 minutes after sending your text before processing the transaction again.
You are in arrears and with our Collections team (due to outstanding payment).
If you are still experiencing further issues then you will need to contact Customer Services.
A Money Transfer Credit Card allows you to directly transfer money from your credit card to any bank account giving you another option to help you manage your finances. This means you can pay for things that you can’t with your credit card.
You can arrange a money transfer by heading to the ‘Account Management’ section of our mobile app or by logging into online banking.
Please note that it is not possible to add a reference to a money transfer so if you are sending this to a third party account, we would suggest transferring to an account in your name first. This can then be forwarded to a third party account with the appropriate reference added.
You can borrow up to 95% of your available credit limit and the money will be in your bank account no later than 2 working days. Please remember your available credit does not take into account any interest that will be added on the next statement.
The minimum credit limit on your account will be £250. Your credit limit is determined by a combination of things, including your credit history and other details from your application. Your credit limit will be confirmed once your application has been accepted. If you want to increase your credit limit after your application then you can do so by logging into our app, into online banking or by giving us a call. You can only increase your credit limit 6 months after you receive your credit card and then every 10 months thereafter.
To find out more about increasing your credit limit, have a look at the following FAQ:
How can I increase or decrease my credit limit?
By requesting a credit limit increase you are authorising us to review your credit history and any other relevant information required to process your request, which will not impact your credit score.
Please carefully consider if you need a higher limit as it may increase the risk of taking on too much debt, which may be costly or take a long time to pay off.