New Clubcard credit card now top fee-free 0% purchase card.
Tesco Bank has revamped its Clubcard credit card range, which now includes the top fee-free 0% purchase credit card.
The Tesco Bank Clubcard Credit Card for Purchases has had its 0% interest period increased from 19 months to 21 months.
Here’s how it now compares to the best 0% purchase cards on the market.
|
Credit card |
0% period |
Representative APR |
|---|---|---|
|
23 months |
16.5% |
|
|
21 months |
18.9% |
|
|
20 months |
18.9% |
|
|
20 months |
18.9% |
|
|
Halifax Purchase Credit Card |
20 months |
18.9% |
|
19 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% |
*Annual fee of £24
As you can see, you can get an extra couple of months of 0% interest with the Santander 123 credit card, but it will cost you £24 a year for the privilege. You can earn cashback on your spending though: 3% on fuel, National Rail and TFL travel, 2% at department stores and 1% at supermarkets.
[SPOTLIGHT]By contrast, the Tesco Clubcard Credit Card offers the longest interest-free period of any fee-free card, and it too gives you the chance to get something back on your spending in the form of Clubcard points. There are five points on offer for every £4 spent at Tesco and one point for every £4 spent elsewhere.
Balance transfers with a smaller fee
The other change Tesco Bank has made has been to launch a Clubcard Credit Card for Balance Transfers which offers a 33-month 0% period on transfers, with a 2.50% fee.
The idea here is to combine a lengthy interest-free period with a smaller than usual fee. Here’s how the 0% balance transfer credit cards with the longest interest-free periods line up.
|
Credit card |
0% period on balance transfers |
Balance transfer fee |
Cost of transferring £2,000 balance |
Representative APR |
|
36 months |
2.99% |
£59.80 |
18.9% |
|
|
Virgin Money Balance Transfer Credit Card |
36 months |
2.99% |
£59.80 |
18.9% |
|
35 months |
2.69%* |
£53.80 |
18.9% |
|
|
35 months |
2.7% |
£54 |
18.9% |
|
|
35 months |
2.7% |
£54 |
18.9% |
|
|
MBNA Platinum Credit Card |
35 months |
2.99% |
£59.80 |
18.9% |
|
35 months |
3% |
£60 |
18.9% |
|
|
Bank of Scotland Platinum 35-Month Balance Transfer Credit Card |
35 months |
3% |
£60 |
18.9% |
|
35 months |
3.1% |
£62 |
18.9% |
|
| Virgin Money 34-Month Balance Transfer Credit Card | 34 months | 2.79 | £55.80 | 18.9% |
|
34 months |
2.89% |
£57.80 |
18.9% |
|
|
HSBC Credit Card |
34 months |
3.3% |
£66 |
18.9% |
|
33 months |
2.5% |
£50 |
18.9% |
*Get £15 cashback if you make a transfer of £1,000 within the first 60 days
While the Tesco Bank card is the cheapest in this list in terms of balance transfer fee, you can get an extra two months of 0% interest for just an extra 0.19% on the fee from Barclaycard or 0.2% from Halifax and Tesco Bank itself.
If you can pay off your debt a bit quicker, there are cards with much smaller balance transfer fees on offer. Read The best low-fee balance transfer credit cards for more.
More on banking and borrowing:
The best 0% balance transfer credit cards
The best low-fee balance transfer credit cards