Tesco Bank is a UK-based bank that offers Tesco Credit Cards and a range of services to its customers. Over the years, it has been used in many marketing campaigns, as well as by many celebrities to promote their products or brands. Do you know which Tesco Credit Card has a low-interest rate and is the most affordable? We answer this question in detail in this post.
Tesco Credit Cards
Tesco has over 23 million customers, making it one of the world’s biggest retailers. It has its headquarters in the United Kingdom and offers multiple types of credit cards.
Customers can earn points on every purchase they make with the Tesco credit card, which does not charge an annual fee. Points can be redeemed at Tesco stores for discounts or other rewards such as cashback, gift cards, and more.
Additionally, these Credit Cards offer exclusive benefits such as free worldwide travel insurance and airport lounge access. There are different types of credit cards, such as Balance Transfer Credit Cards, Balance Transfer, Purchases Credit Card, Purchases Credit Cards, All-Round Credit Card, Low APR Credit Card, Foundation Credit Cards, and Low Fee Balance Transfer Credit Card.
Balance Transfer Credit Card of Tesco Bank
- Representative rate (variable): 21.9% APR representative (variable) on purchases
- The interest rate on purchases (variable): 21.9% p.a.
- Interest on balance: longest 0% interest period on balance transfers for up to 32 months (2.59% fee)
- Transfer fee: 2.59%
- Interest on money transfers: 0% interest on money transfers for the first 9 months (3.99% fee)
- Credit limit: £1,200
Balance Transfer and Purchases Credit Card from Tesco Bank
- Representative rate (variable): 20.9% APR
- Interest on purchases: 0% interest on purchases for up to 20 months
- The interest rate on purchases (variable): 20.9% p.a.
- Interest on balance: 0% interest on balance transfers for up to 20 months (1.99% fee)
- transfer fee: 1.99%
- Credit limit: £1,200
Purchases Credit Card from Tesco Bank
- Representative rate (variable): 20.9% APR
- Interest on purchases: longest 0% interest period on purchases for up to 23 months
- The interest rate on purchases (variable): 20.9% p.a.
- Interest on balance: 0% interest on balance transfers for the first 3 months (2.99% fee)
- Interest on Money: 0% interest on money transfers for the first 3 months (3.99% fee)
- Credit limit: £1,200
All Round Credit Card of Tesco Bank
- Representative rate (variable): 20.9% APR
- Interest on purchases: 0% interest on purchases for up to 15 months
- The interest rate on purchases (variable): 20.9% p.a.
- Interest on balance transfers: 0% interest on balance transfers for up to 15 months (1.99% fee)
- Interest on money transfers: 0% interest on money transfers for up to 15 months (3.99% fee)
- Credit limit: £1,200
Low APR Credit Card of Tesco Bank
- Representative rate (variable): 9.9% APR
- Collect Clubcard points almost every time you shop
- Credit limit: £1,200
Foundation Credit Card of Tesco Bank
- Representative rate (variable): 27.5% APR
- The interest rate on purchases (variable): 27.5% p.a.
- Starting credit limits: between £250 – £1,500 and monthly repayments from £25
- Credit limit: £1,200
- Collect Clubcard points almost every time you shop
Low Fee Balance Transfer Credit Card of Tesco Bank
- Representative rate (variable): 21.9% APR
- The interest rate on purchases (variable): 21.9% p.a.
- Interest on balance transfers: 0% interest period on balance transfers for up to 27 months (1.19% fee)
- Interest on money transfers: 0% interest on money transfers for the first 9 months (3.99% fee)
- Credit limit: £1,200
- Collect Clubcard points almost every time you shop
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Compare Tesco Credit Cards
In this section, we compare different Cards’ variable Representative APR and Interest Rate on Purchases (after the 0% period).
Comparison of representative APRs for Tesco credit cards
It is imperative to know the APR of a credit card before applying for one. There are several different credit cards available, each with a different APR. Indeed, you typically pay interest on your outstanding balance at the APR, which is a percentage of its amount. This means that the higher the APR, the more interest you will pay.
In other words, Tesco credit cards charge an annual percentage rate on loans they make to their customers. Note that APR percentages range from 0% to 29.9% and are applied to the entire balance of a credit card issued by Tesco Bank Ltd.
The following chart and table compare Representative APRs for various Tesco Credit Cards.
| Tesco Credit Cards | Representative rate (variable) |
| Foundation Credit Card of Tesco Bank | 27.5% |
| Balance Transfer Credit Card of Tesco Bank | 21.9% |
| Low Fee Balance Transfer Credit Card of Tesco Bank | 21.9% |
| Balance Transfer and Purchases Credit Card of Tesco Bank | 20.9% |
| Purchases Credit Card of Tesco Bank | 20.9% |
| All Round Credit Card of Tesco Bank | 20.9% |
| Low APR Credit Card of Tesco Bank | 9.9% |
According to this graph, the Foundation Credit Card has the highest Representative APR of 27.5%, whereas the Low APR Credit Card has the lowest Representative APR. It is worth noting that other Tesco Cards have very similar percentages to these.
Comparison of the interest rate on purchases after the 0% period of the Tesco Credit Cards
The interest rate on purchases of credit cards is the percentage of interest that the company charges you for using the card. Typically, credit card companies charge a certain percentage of your total balance each month, and then they calculate how much profit they made on the purchase.
Tesco offers a range of credit cards that offer customers additional benefits. The interest rates on purchases vary depending on the card.
The table and chart below compare the Interest Rates on Purchases of Tesco Credit Cards provided by our experts. The Tesco Cards that offer 0% Interest Rate on Purchases often expire after a certain period, so we used Interest rates on Purchases after the 0% period expired.
| Tesco Credit Cards | The interest rate on purchases (after finishing its 0% period) |
| Foundation Credit Card of Tesco Bank | 27.5% |
| Balance Transfer Credit Card of Tesco Bank | 21.9% |
| Low Fee Balance Transfer Credit Card of Tesco Bank | 21.9% |
| Balance Transfer and Purchases Credit Card of Tesco Bank | 20.9% |
| Purchases Credit Card of Tesco Bank | 20.9% |
| All Round Credit Card of Tesco Bank | 20.9% |
Below you can see that the Foundation Credit Card has the highest Representative APR with 27.5%, while the other Cards have similar percentages of Interest rate on purchases (after the 0% period has ended).
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