0% interest and NO balance transfer fee on the Tesco Clubcard credit card
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Love Clubcard, don’t collect Avios? You should be reading our sister site, Shopper Points (www.shopperpoints.co.uk), which covers the latest Clubcard and Nectar offers without any distracting frequent flyer talk! Why not check it out now?
The credit card coverage on Head for Points is focussed almost entirely on the ability to earn miles and points. I do not focus on interest rates or, in the main, quality of customer service.
That said, it is worth highlighting a (new?) variant of the Tesco Clubcard MasterCard that has popped up on their website.
The representative APR on the Tesco Clubcard card is 18.9% variable.
If you scroll down to the 3rd card variant on that page, you will see that Tesco is offering balance transfers from existing credit cards with NO FEE. The transferred balance will then incur 0% interest for the first 10 months.
To be honest, if you run a balance on your credit cards then you should be focussing on obtaining a low interest rate and NOT taking out additional cards to take advantage of sign-up offers.
This is not a bad deal, though, for people who do have a balance. You do not earn any Clubcard points (so no Avios) on the balance you transfer however.
Going forward, the Tesco credit card earns 1 Clubcard point (2.4 Avios, 2.5 Virgin Flying Club miles) for every £4 you spend. This is calculated on a ‘per transaction’ basis so a spend of £6 only earns 1 point. Unless you meet the strict criteria for the HSBC Premier credit card, the Tesco card is highest earning Visa or MasterCard for Avios points.
There is no sign-up bonus for opening a Tesco Clubcard MasterCard. However, once it arrives, you can claim 1,000 Clubcard points (2,400 Avios points) via their refer-a-friend scheme. Send me an email at raffles [at] headforpoints.co.uk when you get your card and I will send you the refer-a-friend form.
Love Clubcard, don’t collect Avios? You should be reading our sister site, Shopper Points (www.shopperpoints.co.uk), which covers the latest Clubcard and Nectar offers without any distracting frequent flyer talk! Why not check it out now?
(Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history.)
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