How long after I have held and closed a Tesco credit card, can I apply again for a new card as a new customer? I have had mixed answers ranging from 6 months after date of closing card from the Tesco's Twitter, to 1 month from the Tesco website to zero delays in re-applying, as long as you don't hold any other Tesco products. A definitive answer would be most helpful.
Thanks for all your questions about the credit cards and what you’d be able to apply for. Due to the fact that there have been some changes with this process over the last two weeks, I thought it best to have a post that will answer all the questions you’ve both asked in one place.
To answer your first question Zebedee, you’d be able to close a card and apply for a new card straight away, as long as the old card had been applied for more than a month before. For example, if you closed your card today, you’d be able to apply for a new one tomorrow, dependent on credit checks etc.
Going onto your second question, you have to wait one month between applications for new cards. So if you applied for a balance transfer card and then wanted a card with 0% interest on purchases, you’d have to wait one month between applications. This also leads onto the third post, and I can confirm that you can hold two cards with Tesco Bank at the same time, as long as the one month has passed between the applications.
Along with that, if one of the two cards is closed, you have to wait two months before applying for a new second card. Also, the cards can fall under the same 0% rate options too, so two balance transfer cards, two purchase cards or whatever combination suits.
Moving onto your questions Martin, you wouldn’t be able to move the balances from an older card onto a newer card, but you would certainly be able to use the card for balance transfers with credit cards you hold with other providers. In terms of the credit limit, that will still be decided upon once the application has been made and a credit check has been completed, so it’s not linked to the existing limit.
And just lastly, in terms of applying for any of these new cards, this can still be done online at tescobank.com or over the phone with my colleagues on 0345 300 4278 24/7.
I hope this post has been helpful, but if there’s anything else, feel to reply to this message and we’ll do our best to help.
Thanks. Also, if I already hold say a balance transfer Tesco credit card and would like to take out the 0% purchases card: 1. How long do I have to have held the card for? (The balance transfer Tesco credit card) Or does this not matter? 2. When can I apply for the new credit card?
If you already have a balance transfer card, it seems from this thread and from what I've reD in your site that you can now apply for another; however, would you be allowed to transfer balances between them?
I doubt you would be able to do a balance transfer from one Tesco credit card to another. Think about it, what other bank/card companies allow this? None. I have another question for the Tesco representatives, I saw today that there is now a 21 months 0% balance transfer card with no fee available on your site. If I already hold a balanace transfer card with you, am I eligible to take out this new 21 months 0% balance transfer card? Or is it a case of you are only allowed 1 balance transfer card and 1 purchases card?
I would like to know this too, as well as find out what they'd likely do on credit limits. To be honest I'd be happy to close my existing card and just go with the new offer. wrote:
I doubt you would be able to do a balance transfer from one Tesco credit card to another. Think about it, what other bank/card companies allow this? None. I have another question for the Tesco representatives, I saw today that there is now a 21 months 0% balance transfer card with no fee available on your site. If I already hold a balanace transfer card with you, am I eligible to take out this new 21 months 0% balance transfer card? Or is it a case of you are only allowed 1 balance transfer card and 1 purchases card?
So to clarify, Id like to apply for the new card but I wonder what would happen with credit limits on existing card as am sure Tesco would want to cap overall borrowing with them. To be honest I'd be happy to close / run down my existing card and just go with the new offer.who would I be best to speak to about this, is there a specialist team, as probably not one to do online.
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EmployeeVerified AnswerHi and ,
29-10-15 11:54Thanks. Also, if I already hold say a balance transfer Tesco credit card and would like to take out the 0% purchases card: 1. How long do I have to have held the card for? (The balance transfer Tesco credit card) Or does this not matter? 2. When can I apply for the new credit card?
ScottW
