Balance transfer credit cards

A balance transfer lets you move debt from one credit card to another, usually to benefit from a lower interest rate or a 0% interest promotional period. While there may be a one-time transfer fee, this approach can help reduce your overall debt faster by focusing payments on the balance rather than interest.

A 0% interest balance transfer lets you move debt from one credit card to another and avoid paying interest on the transferred amount for a set promotional period. During this time, your monthly payments go entirely toward reducing the balance rather than covering interest, helping you pay off debt faster.

A balance transfer usually takes up to 2 working days after your credit card is activated. If you request a balance transfer during your credit card application, the card must be activated within 60 days for the transfer to be processed. While the transfer is pending, continue making payments on the card you are transferring from to avoid interest or missed payments.

Yes, you can use a balance transfer credit card to make purchases, but some cards may charge interest on new spending. To avoid interest, pay off purchases in full each month or choose a card that offers a 0% interest period on both balance transfers and purchases.

After a balance transfer, your old credit card remains active. Keeping it open can help maintain or improve your credit score, but you can choose to close it if you're worried about accumulating more debt.

It depends. In some cases a balance transfer may temporarily decrease your credit score. This is due to the application for a new credit line, but your score should rebound quickly if there are no other factors at play. If a balance transfer helps you to reduce your debt and manage your repayments better, your credit score could improve in the long term.

APR, or Annual Percentage Rate, is the total cost of borrowing expressed as a yearly percentage. It shows how much you'll pay for credit - such as a credit card, loan, or mortgage - combining the interest rate with any mandatory fees. This makes it easier to compare the true cost of different credit options.

Variable APR is an Annual Percentage Rate that can change over time, usually based on movements in a benchmark rate like the Bank of England base rate. Most credit cards use a variable APR, and your provider must notify you in advance if your rate is going to change.

Under Section 75 of the Consumer Credit Act, you could get extra protection if something goes wrong on single purchases that cost between £100 and £30,000.

So, if something you've paid for turns up broken or faulty, or if it doesn't arrive at all, you may be able to get your money back through a Section 75 claim.

Read more about your consumer rights in our guide to the top credit card features.

Yes, you can use your Tesco Bank Credit Card abroad just as you would at home.

With each transaction in a foreign currency you’ll be charged a foreign exchange fee of 2.75% of the cost of your purchase.

Get more information in our guide to using your credit card abroad.

The calculator works out how many Clubcard points you could collect if you had a Tesco Bank Credit Card and used it to pay for items in and out of Tesco.

Based on the amounts you enter into the calculator, we work out the number of Clubcard points you could collect and give an idea of the amount in Clubcard vouchers.

The fuel calculator uses an average price per litre to calculate the number of points, based on 1 point per litre bought. Calculation based on average fuel price per litre. Average price per litre is based on both petrol and diesel and an average fill of 33 litres. Average price per litre updated monthly.

Remember though, your points will be worked out on each individual transaction that you make and not on your total monthly spend. So, this means the calculator only gives an indication and the actual points you receive could vary.

Don't forget that you'll need to spend a minimum amount to begin collecting Clubcard points.

When you open a credit card account with us you’ll be automatically enrolled into the Clubcard scheme if you’re not already a member, and Tesco Bank will share information with Tesco Stores for the operation of your Clubcard account.

Clubcard accounts are managed separately by Tesco Stores, and you should visit the Tesco privacy notice for further information about how Tesco Stores uses your information.