Tesco credit card offering 0% on purchases
The interest free period has been extended from six months and starts on the date on which the account is opened.
Tesco gives customers five Clubcard points for every £4 they spend on their Clubcard credit card in a Tesco store or on Tesco.com. When the credit card is used elsewhere, customers receive one Clubcard point for each transaction.
In related credit card news, Defaqto highlighted earlier today that Marks and Spencer Money offers 0% on purchases for ten months on its credit card. Sainsbury's Finance offers 12 months on Sainsbury's shopping and three months on other purchases.
However, David Black, principal consultant of banking at Defaqto warned that only those with good credit ratings are likely to get the best loan deals.
"Personal pricing or 'risk based pricing' is taking a real hold in the unsecured market so as an individual's credit worthiness deteriorates it becomes increasingly difficult and, when available, more expensive to borrow," he said.
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