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COVID-19 (coronavirus) information

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Your Community Expert

Re: COVID-19 (coronavirus) information

Hi @kirstypoohbear7, if you follow the instructions on the post/link above it will tell you exactly what to do to arrange this. Hope this helps. 

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In the know

Re: COVID-19 (coronavirus) information

Hello KirstyPoohBear,

 

The above form allows for a repayment holiday for two months on mortgages, credit cards and loans with Tesco Bank (which will need to be repaid at a later date).

 

If you need further support I would contact the customer services team at your earliest possible convenience to discuss any concerns/seek advice.

 

Hope that helps.

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Little helper

Re: COVID-19 (coronavirus) information

It's not clear from the communications from Tesco, or from the FAQs whether fees and interest will not be charged if cc balances are not fully paid off by payment date.
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Your Community Expert

Re: COVID-19 (coronavirus) information

Hi @filpa If you choose to delay your credit card payments, interest will continue to be charged on the balance. However, You can make payments to reduce your credit card balance at any time. I hope this clarifies things. 
 
 
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Little helper

Re: COVID-19 (coronavirus) information

I'm not directly affected yet but having to work from home. I'm tempted to take a loan holiday for 2 months to put the money aside Incas of emergency and then if it's not needed pay it off the loan or my credit cards in a couple of months ?
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Your Community Expert

Re: COVID-19 (coronavirus) information

Hi @Joetomw, the payment holiday is there to help those whose income has been affected by the current situation caused by COVID-19. If your income has not changed as a result of this, you are not eligible for a payment holiday - Alex

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Fresh Eyes

Re: COVID-19 (coronavirus) information

Hi,

 

I've ended up with £700 credit on my card which I'm now unlikely to use in the foreseeable any way of accessing those funds?

 

Balance transfer to my other card (Amex) was declined, guessing because it's Amex although they previosuly indicated it wouldn't be a problem.

 

Thanks.

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Little helper

Re: COVID-19 (coronavirus) information

Hi,
I have recently applied for payment holiday on my loan and received an email saying that I need to cancel my direct debit to get that done. I am little bit confused. Will that not impact credit file?

Many thanks
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Little helper

Re: COVID-19 (coronavirus) information

Received an email today from noreply@ems.tescobank.com saying
“ Thank you for your COVID-19 payment break form we are working through your request.

Due to current volumes and processing time we recommend you cancel your Direct Debit with your bank to prevent this payment being taken from your account. Please note that your bank will require at least two days’ notice before your payment date to make the cancellation.”

Is this legit or fake as I out my request in a week or so ago!
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Just looking

Re: COVID-19 (coronavirus) information

We've had the same email and also not sure if it's legit. Our form went in a couple of days ago. Some advice from Tesco Bank would be helpful please?