Tesco Bank transferring products to Barclays

[jontlancaster]

I cancelled my old Hilton Rewards Barclaycard earlier this year and am waiting down the clock so I can get a barclaycard Avios signup bonus. Just had a letter from Tescobank (with whom I also have a credit card) saying that they’re proposing to transfer their accounts and services to Barclays Bank in the near future.

Is this likely to scupper my eligibility to a sign up bonus? Might have to move quickly to check exact dates and cancel cards etc if so.

[Richie]

There’s a hearing on 17 October with a date of 1st November 24 as https://www.tescobank.com/transfer-scheme/ not sure if those dates are practical for you.

I would plan to cancel the credit card before November.

[Harrier25]

From what I understand they’re keeping the Tesco branding for the foreseeable future, so probably no need for a knee-jerk reaction at this stage.

[Rob]

Others have asked us this. Katie is raising with Barclaycard although whether you trust their answer is a different question.

[WillPS]

I doubt Tesco Bank patronage will affect Barclaycard eligibility on day 1, but on the flipside how much do you value your Tesco Bank credit card? If ‘not much’, then maybe don’t risk it causing issues.

[jontlancaster]

thanks all – current reason for tescobank card was 0% balance transfer of a large purchase I put through my amex that I was happily paying down over a few months. Not the end of the world to clear it and cancel it, which is probably what I’ll do, but sounds like there’s no great rush!

[BHX Flyer]

Any update on this, got both cards but would ideally like to cancel only the barclay and reapply after 6 months.

[JDB]

BHX Flyer wrote:

Any update on this, got both cards but would ideally like to cancel only the barclay and reapply after 6 months.

All the Tesco Bank credit card, loans and savings accounts were transferred to Barclays on 1 Nov. Some financial products are still marketed under the Tesco brand but are actually provided by Barclays and Tesco does still offer other products such as insurance and travel money itself.

[BHX Flyer]

I’m guessing this means I will need to cancel both to get the new customer offer in 6 months time.

Thanks