Take out and spend on a new Tesco 0% card and your Clubcard points will be boosted – but is the card any good?
Tesco has launched a new 0% purchases credit card offering 1,000 Clubcard points if you make a purchase or transfer a balance during the first two months you have the card.
The Purchase Card with 1,000 Clubcard points lets you pay no interest on purchases for 17 months. This isn’t a market-leading 0% period but it’s pretty competitive. And if you’re a keen Clubcard points collector anyway, the 1,000 point offer might be tempting.
Let’s take a closer look at the card and how it compares to other 0% purchase credit cards.
Compare 0% purchase credit cards
Tesco card up close
As well as the 17-month interest-free period on purchases, the Purchase card also offers a three-month 0% balance transfer period. However, the balance transfer offer is definitely not a reason to get the card.
Then there are the 1,000 bonus Clubcard points, which are worth at least £10, although you can increase these using schemes such as Clubcard Boost. And you can collect Clubcard points on all your spending on your card.
[SPOTLIGHT] However, if you went for another top 0% purchases credit card, you could have up to 20 months without any interest to pay.
And Tesco itself offers a 19-month Clubcard credit card for Purchases, albeit without the Clubcard points bonus, so you need to decide which is more important: time or points?
How it compares
These are the market-leading 0% purchase credit cards right now.
|
Credit card |
0% period |
Representative APR |
|
Halifax Purchase Credit Card |
20 months |
18.9% |
|
19 months |
18.9% |
|
|
Lloyds Bank 19-Month Platinum |
19 months |
18.9% |
|
Bank of Scotland 19-Month Purchase |
19 months |
18.9% |
|
Clydesdale Bank Gold MasterCard |
19 months |
18.9% |
|
Yorkshire Bank Gold MasterCard |
19 months |
18.9% |
|
18 months |
18.9% |
|
|
18 months |
16.5% |
|
|
18 months |
18.9% |
|
|
17 months |
18.9% |
As you can see, there are plenty of alternatives to the new Tesco card. However, all these cards are only available to people with a good credit rating.
Playing your cards right
Whichever card you go for, make sure you make at least the minimum repayment each month. And you should aim to pay off your spending by the end of the 0% period, otherwise you'll be paying interest.
Compare 0% purchase credit cards
More on credit cards:
The best balance transfer credit cards
The best cashback credit cards