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Tesco extends interest free credit card period

21 May 2009 11:33:02

Online customers now get a year interest-free.  image
Online customers now get a year interest-free.
Tesco Personal Finance has lengthened the interest-free period on new purchases made with its Clubcard credit card to 12 months.

Previously, the card offered six months of interest-free transactions.

However, new customers who apply online will now be able to take advantage of the new deal.

The Tesco Clubcard credit card has a typical annual percentage rate of 16.9% (variable) and 0% on balance transfers for six months, subject to a 2% fee.

Customers who use the Clubcard will also be able to earn points which can then be reimbursed at Tesco stores.

Every £4 spent in a Tesco shop or on Tesco.com will earn five Clubcard points, while using the card at other vendors will accrue one Clubcard point.

Abbey re-launched its Zero card earlier in the month, highlighting its three-month period of interest-free purchases as a selling point.

While not as long as the Tesco Clubcard interest-free offer, the Abbey Zero does include a 0% rate on balance transfers for a whole year.
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