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Loan & Credit Card application timescales

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Community Manager

Loan & Credit Card application timescales

We always try to give an instant decision when making an application online, but sometimes it may need to be referred for further consideration. 

 

It is currently taking 5 - 6 days for us to let you know our decision on referrals, due to the volume of applications. We are working hard to make these decisions quicker and thank you for your patience. 

 

Loans 

If you've been approved immediately, we will either ask you to sign digitally or send some paperwork for you to check and sign. This will be received within 3 - 4 days of the application being made. Once received, we will use Faster Payments to send the money directly to your bank account, usually within 48 hours. 

 

If your application is referred, we do not send an acknowledgement. We will let you know as soon as a decision has been made or if we require any supporting information. For more information, please see our existing FAQ How long will it take to get my loan?

 

Credit Cards

If your application was approved automatically, we’ll send you a text within 2 days to let you know that we’re sending your card. If your application has been referred and we require more information, we’ll be in touch within 5 – 6 days to let you know what we need.

4 REPLIES 4
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Just looking

Re: Loan & Credit Card application timescales

Hi my wife and I made a joint application for a loan last Saturday received paperwork 2 days later posted documents on Wednesday bearing in mind we've been approved with the loan it's now Monday and we have not received funds into account I understand coronavirus will have impact with staff but this is still very poor from Tesco
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Your Community Expert

Re: Loan & Credit Card application timescales

Hi @Timbo060914, sorry to hear that. Can you please send over a private message to Tesco-Bank? I'll then be able to take a closer look.

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Just looking

Re: Loan & Credit Card application timescales

Hi do I private message Tesco bank
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Your Community Expert

Re: Loan & Credit Card application timescales

Please search for 'Tesco-Bank' under users and then click send message on the profile page.