• Join Date: Dec 2020
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    interest free credit transfer is not quite actually what you think it is.
    18-01-21 , 16:00

    i took out an 18 month interest free credit transfer last summer. i then proceeded to pay of some of the amount by making regular payments each month, but here is the kicker, i also used my tesco credit card for some tesco shopping each moth, i paid the shopping off in full every month plus an extra £250 to reduce my interest free credit transfer. I noticed each month there is a small interest charge only a few pounds. i asked tesco bank and they have written back to say that as the interest free is still outstanding i must pay interest in any small purchases on my tesco credit even though i pay it off in full every month. So from this month i will no longer use my tesco credit card to make purchases as i will pay interest every time. You have been told. i have a letter from Tesco bank confirming this.
  • Join Date: Mar 2020
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    18-01-21 , 16:49

    Hi @curry99

    I'm really sorry to hear this.

    Please send Tesco Bank a private message and ask them to look into this for you.
    Click on this link Tesco-Bank then scroll down, on the left hand side click 'Send Private Message'.
    Complete it, click 'Submit Message' and this will send your message securely and privately.
    Please include your full name, date of birth and postcode along with your account details.
    You will receive a reply to your private message along with an appropriate explanation.

    Warm wishes, Caz @25H
  • Join Date: Mar 2020
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    18-01-21 , 20:22

    I’m not sure that this is of any consequence to you but I always thought that the money you pay to your card will always pay toward the figure paying interests and then works its way down to the interest free transfer. I could be wrong though!
  • Join Date: Mar 2020
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    18-01-21 , 21:22

    Hi @curry99

    Some balance transfer cards have an introductory rate of 0% interest on purchases, but others will charge interest on your spending!

    I suggest that you send a private message to Tesco Bank to get this checked and confirmed.

    Please Click on this link Tesco-Bank then scroll down, on the left hand side click 'Send Private Message'.

    Complete it, click 'Submit Message' and this will send your message securely and privately.

    Please include your full name, date of birth and postcode along with your account details.

    You will receive a reply to your private message along with confirmation .
    ​​​​​​​
    Best Regards, Chris, @CSKBrambles
  • Join Date: Dec 2020
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    19-01-21 , 12:00

    hi everyone, i made a formal complaint to the bank and they have sent me a final letter stating what i have already said. they have said i can take this to the financial complaint to ombudsmen but what's the point, the tesco bank have made it clear they want to make me pay interest what ever, so the only solution is not to use the tesco credit card until i have paid of the interest free in full.
  • Join Date: Aug 2018
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    19-01-21 , 13:05

    Hi @curry99, I'm sorry to hear about this. If you don't have a 0% rate available on purchases on your account then I'm afraid you would receive interest on any spending unless you were to pay off the entire statement balance in full and on time every month.
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