Closing Credit Card-Trailing Interest Question

  • chaddman30's Avatar
    Supervisor
    Hello Tesco Bank Community, I am closing my Tesco Bank Credit Card due to an upcoming change in circumstances. My next statement is generated on the 16th of this month and as I've mixed a Money Transfer Offer and Purchases I'm fully aware I'll be liable for Interest at 21.9% APR. I'll be clearing the bill in full once it's available for me to view; would Tesco Bank contact me if there's an outstanding balance on the account? I'm just checking because I don't wish to tarnish my credit reports. Thank you.
  • 2 Replies

  • Verified Answer

    StephenO's Avatar
    Employee
    Verified Answer
    Hi , I'm sorry to hear you will be closing your credit card. When you call our Customer Service department to close the account they will be able to advise the full outstanding balance and let you know if there is any interest due to be applied. This will also be confirmed in writing therefore if you write in to us to close the card you will receive confirmation in the post of any outstanding balance still to pay.
  • chaddman30's Avatar
    Supervisor
    Hello StephenO. Thank you for getting back to me in terms of my enquiry. I'd much rather keep my credit card running (I'll have had the account three years as of April) as that would look better on my credit files but I am changing employment in the next couple of months and am wishing to reduce my exposure that's all. I'll leave it as it is for now and will mull over my options in a couple of months time. Once again, thank you.