Shopping List: Bread, Milk, Butter and £5000.
Gone are the days when your local supermarket was just your local grocer ... butcher, baker, delicatessen, tailor, hardware, music and video store. Ok, so the Supermarket giants have been giving us almost all we need under one roof for a long ... Read review
Advantages: 0 percent interest until Oct 2003 Disadvantages: confusing loyalty scheme
Shopping List: Bread, Milk, Butter and £5000.
Gone are the days when your local supermarket was just your local grocer ... butcher, baker, delicatessen, tailor, hardware, music and video store. Ok, so the Supermarket giants have been giving us almost all we need under one roof for a long time now. But moving into the business of providing personal finance has been a more recent development, and one which Tesco seems to be leading the ... ...animated talking trollies worried about their future -which pull on the heart strings of the viewer (unfortunately for the marketers, with not as much success as the unwanted mobile phone in the Carphone Warehouse ads, sob, sob).
I was queuing for my lunch in Tesco's one day, eyeing over the tantalising selection of chocolate goodies deliberately placed at easy grab height when I noticed a stack of leaflets. With my basket in one hand, ... more
Shopping List: Bread, Milk, Butter and £5000.
Gone are the days when your local supermarket was just your local grocer ... butcher, baker, delicatessen, tailor, hardware, music and video store. Ok, so the Supermarket giants have been giving us almost all we need under one roof for a long time now. But moving into the business of providing personal finance has been a more recent development, and one which Tesco seems to be leading the way in. You'll have seen the adverts recently - animated talking trollies worried about their future -which pull on the heart strings of the viewer (unfortunately for the marketers, with not as much success as the unwanted mobile phone in the Carphone Warehouse ads, sob, sob).
I was queuing for my lunch in Tesco's one day, eyeing over the tantalising selection of chocolate goodies deliberately placed at easy grab height when I noticed a stack of leaflets. With my basket in one hand, my free arm reached out ... chocolate or leaflet, chocolate or leaflet? I snatched a Galaxy bar and discarded it in my basket leaving me free to read over the colourful, glossy selection of leaflets. Gosh, there's almost as big a selection as the chocolate! They do loans, mortgages, credit cards, savings acocunts, travel money and a wide range of insurance (home, motor, travel, life, and pet).
I'm the kind of consumer credit card companies love to hate - I move around lots, taking advantage of interest free periods and paying balances off in full. My current card had lost that 'new' smell about it so I figured I'd make Tesco the next victim of my custom! So the credit card leaflet and application was the lucky one that made it into my basket for me to read on the way home.
Here's the deal:
Application *********** As I did, you can pick up a leaflet in-store, fill it in and post it off. Or you can apply online at www.tescofinance.com. Unfortunately, if you apply on-line, you still have to print the form off, sign it, then post it to them!
It took a long time for my application to go through. They contacted me after about 3 weeks to ask me to send proof of ID and address. They really could have speeded things up by requesting this with the original form, but they said they had to complete the credit check first. I've been offered some finance in minutes, so I still think the delay was unnecessay. However, I did at least receive my card within the promised 28 days.
Choice of Account / card ************************ You can go for the Classic credit card or the Finest* Platinum Card. There are also two designs to choose from - Sunflower or Raindrops. The Sunflower picture is the one shown on this site.
For the platinum card (which is the one I have) you must be over 21 and earn a minimum of £20,000 per year. You get additional benefits such as:
"Earn 2 points for every £2 you spend at Tesco.com". I've not tried internet shopping with Tesco yet as I've heard you end up with things you didn't order when they replace the 'chocolate' on your list with 'celery sticks'!
"Exclusive offers on Tesco Finest*". This is in the form of money off vouchers, and usually on products I'd never buy like Mussels in Champagne.
"Offers on Tesco Insurance products". They've not yet bothered me with any insurance salespeople.
"A higher credit limit". Please, please, do not tempt me with anymore - I could already buy a house with the amount of credit available to me on plastic.
"Free legal and medical assistance when abroad and free delivery on Tesco Travel Money" So why would I need to buy travel insurance? I smell a rat.
Interest rate/ Annual fee ************************* 0% pa introductory rate until 1st October 2003 on purchases and balance transfers then 14.9% APR standard rate (variable - i.e. it might be changed at any time).
Up to 56 days interest free credit. You must pay your balance off in full every month otherwise this is irrelevant to you. Any balance not paid off will be charged interest from the day of purchase. Obviously this is also not relevant if you're paying 0%.
No annual fee. This is typical of most credit cards -I wouldn't have a card that involved having to pay a fee as there really is no need.
Reward Scheme ************* Earn 1 Clubcard point for every £2 you spend on all purchases (whether at Tesco or elsewhere, anywhere in the world). Use your points for Clubcard Deals and Clubcard vouchers (which you can save for up to two years and use them to get as much as 75% off the normal cost of travel, entertainment and other things). To be honest I find the reward system quite confusing, but it's nice to receive the vouchers through the post every now and again when I'm not expecting them.
Other Benefits ************** Can obtain ATM cash worldwide. Covered against fraudulent transactions. Purchases are covered for 50 days (theft, loss etc). Free travel accident insurance (upto £50,000 for Classic card, £250,000 for Platinum). You can also take out additional insurances but I never opt for these as it is clearly the way the companies make their money!
You can maintain your account on-line or contact the customer services helpline who I have found to be very helpful (the Platinum contact number is 08456 04 04 06).
So I now also have a little silver Tesco Finest Platinum card in my collection. I was a bit annoyed that just after my application was processed they extended the interest free period to Oct (when I applied it was June) but I still managed a full six months 0%. Anyway this Littlest Hobo will just keep moving on.
Advantages: you can earn clubcard points, great introduction Disadvantages: Interest rate could be a bit high after introduction has finished
I was first attracted to the Tesco Credit Card after seeing their signs in store saying that they had 0% on purchases and balance transfers until June 2003. I decided to take a leaflet but unfortunately they had none left. So when I got home I visited their website and ordered an application form online. It arrived in the post two days later. I was very pleased to see that they were quick in their response. My husband and I were impressed with the ... ...were accepted and very quickly in about a week and a half we received our cards and full details of use. We had also asked for a pin to use the cards in the cashpoint machines and that arrived a week after the cards. The card offers alot of benefits to the user for example if you shop in Tesco you will probably have a clubcard and collect points each time you shop well with the credit card you can collect points wherever you shop. Unlike some credit ...
Moaty 12.11.2002
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Ciao members have rated this review on average: very helpful Review of Tescos Visa
Advantages: For every £2 you spend anywhere, you get 1p back at Tesco. 0% on balance transfers 'til June. Disadvantages: Higher APR than some after initial period, took ages for card to come through.
Actually, in this case, points don't make prizes, they make cash.
We've had this credit card for several months now, and I'm a fan. Anything I buy for more than £2 now goes on my credit card. No more fumbling around for change! Hurrah! Even better, the card’s purple, with a nice picture of a sunflower on it. Splendid!
We basically got the card for three reasons. We used to make large purchases on my boyfriend’s Barclaycard and then ... ...but they brought the scheme to an end in order to start the Nectar scheme, which wasn’t as useful to us. We also decided we’d get a joint card as it would make it easier to check what we spend, and since I always used my debit card, we weren’t getting any benefit from those purchases either.
I'm not a huge fan of credit cards in general. Maybe I just worry too much, but I’m always concerned that I might forget to pay it off ...
xadoc 12.12.2002
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Ciao members have rated this review on average: very helpful Review of Tescos Visa
Advantages: Good APR deal Disadvantages: Bad staff and rules
If like me you have a credit card, you will know the many pitfalls of buying now and worrying about paying later.
You will also know what happens when your monthly interest is strating to be more than your actual payment. This is normally because you have a high APR on your Credit card.
APR or Annual Percentage Rate is the rate at which the Credit Card Company calculate your interest on your borrowing. The higher the APR, the higher the interest ... ...want is a Credit card with a low APR and good benefits.
People are either lazy or complacent when it comes to their balance. Rather than move it around, they leave it in one place. The APR may be killing you when you could actually find a cheaper rate, much like a mortgage.
One of the best around at the moment is the Tesco Finance Card.
Here are my reasons for opting for the Tesco Card.
Firstly it have a very low APR on balance transfers. 1.5% ...
andycharger 22.01.2002
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Ciao members have rated this review on average: very helpful Review of Tescos Visa
Advantages: Clubcard points, Airmiles, low APR, easy to pay bill Disadvantages: Encourages you to spend money!
I first applied for a Tesco Visa card around 18 months ago after being attracted by the low APR (5.6% although it has dropped much further since). I also liked the idea of being able to get Clubcard points on my purchases. I had no hassle applying for the card and it was delivered to my door with plenty of helpful, easy to read information which, for someone who had never had a credit card before, was extremely welcome.
Initially my card limit was ... ...increased to £1000. One of the things I find most helpful is the telephone service: I make my minimum payment by Direct Debit to ensure it is covered but I pay off the rest of my bill by phone. To do this I phone up, key in the details of my account number, the amount I wish to pay and my Switch card number and the bill is paid straight away - no messing around with cheques and envelopes and 'seven days for your payment to clear'! You can also phone ...
mel.thornton 30.03.2002
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Ciao members have rated this review on average: very helpful Review of Tescos Visa
Advantages: Get clubcard points, good introductory rate Disadvantages: Inefficient application process
I have had Tesco Personal Finance products for a few years now and have never before had any reason to complain. Until now and this is why..
I decided to apply for a Tesco Visa Card because I liked the idea of gaining Clubcard points each time I used my card. We wanted to buy a car and I thought £7000 worth of points would be nice. Unfortunately, we were unable to buy our car using the card (no fault of the card - read my op on "Make the Introductory ... ...still thought a few extra points from normal spending would come in handy. So, I filled in my application form meticulously, returned it in the enclosed envelope and waited. And waited and waited and waited. 8 weeks later I thought I had better check the progress of this application, so I rang the helpline number. "Mrs who", the lady on the end of the phone said "no, we have no record of an application for Mrs Passmore." They sent me another application ...
jpass 14.09.2001 (06.10.2001)
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Ciao members have rated this review on average: very helpful Review of Tescos Visa
Competitiveness of APR
Product package
Quality of Customer Ser...
Reward Scheme
Additional Charges
Security and Privacy
Ease of Application
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Advantages: You get Tesco Club Card points Disadvantages: Spend a fortune trying to sort anything out and get very frustrated
I have to say that the customer service for TescoVisa Card is absolutely dreadful. I had a TescoVisa Card in the Uk and Ireland and have had a nightmare trying to close them. I had a card in the UK that I thought had been closed 3 years ago and I never used then was told I had to pay 40 government stamp duty as I live in Ireland - I phoned and was passed from person to person before being told if I had phoned 2 days earlier to close the account I wouldnt have had to pay anyway I paid it and said I wanted to close it. Then another statement with another 40.00 government stamp duty more phonecalls on the phone from Ireland for half an hour before being told the other customer service agent gave me the wrong information and had to pay another 40.00 as the other one was from last year an this was this year - paid it and closed ...
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Advantages: can not get into large debt Disadvantages: no one takes it
the visa electron. because i thought it was from visa i thought that this will be taken every were and have the great benefits of visa. how wrong can i be! there are two debit cards that children can have the visa electron or solo. i strongly recomend the solo
the visa electron is a disapointing card although made from visa. supprisingly visa electron is hardley taken apart from the big stores such as tesco ect. the visa electron is not taken hardley on the internet. and you can not use the card were they have the old machines as the card number do not stick up. the competitor of visa electron the solo is far more better. it is happly taken at more places. it can be used more on the internet and the numbers stick up as well.
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the banks ...
BarclayClark 30.04.2004
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acceptability: Due to the higher vendor fees charged by Amex, it is sometimes difficult to use the card unless you are purchasing from large companies e.g. Tesco, BP etc. There are very few online retailers who will accept Amex. I would always advise a backup Visa or Mastercard. In my experience I have been able to use it for petrol, grocery shopping, chain hotels and some restaurants.
Fee: If you can't find enough places to use the card and spend less than £4000 per annum, a £20 charge will be made.
APRs: If you pay your account by the required date each month there are no interest charges. However the interest rate for purchases and cash advances is an uncompetitive 19.9%. The balance transfer rate of 4.9% is slightly more competitive, but there are plenty of 0% promotional offers available with other providers if this is ...
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