Credit Cards
Tesco Foundation Credit Card review: £0 annual fee
Find out if the Tesco Foundation Credit Card is the right option for you! Earn points on every purchases and access your credit score for free! Read on!
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This credit builder card helps you improve your credit while earning rewards!
This Tesco Foundation Credit Card review will overview this credit card, which has limits ranging from $250 to $1,500.
Tesco Foundation Credit Card: how to apply
Learn now how to apply for Tesco Foundation Credit Card. Earn points on every purchase! Keep reading and learn more!
This card offers more than just rewards; it helps you build or rebuild your credit. So keep reading and learn more!
Credit Score | No credit history is necessary; |
Annual Fee | £0 annual fee; |
Purchase APR | 29.9% variable APR; |
Cash Advance APR | APR 3.99% (min. £3); |
Welcome Bonus | None; |
Rewards | For every £4 you spend at Tesco, you’ll get one Clubcard point; for every eight pounds you spend elsewhere, you’ll earn two. |
Tesco Foundation Credit Card Overview
If you’re looking to grow your credit and get benefits simultaneously, the Tesco Foundation Credit Card is one of your best options.
This card comes with various features designed to safeguard and enhance your credit.
At first, you may start with a low but manageable limit of £250. However, your credit limit can be increased to up to £1,500.
Usually, with this type of card, you will not find perks besides the offered credit line.
Yet with the Tesco Foundation Credit Card, you may earn rewards without ever paying an annual Charge.
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Tesco Foundation Credit Card main features
This card, as stated, offers more benefits than most of the options in the market.
Although the Tesco Foundation Credit Card has many benefits, there are also a few downsides to consider. Check them below.
Pros
- This is one of the few credit-building cards that have useful features, including the opportunity to earn Tesco Clubcard points on ordinary purchases;
- If accepted, you will get a credit line of between £250 and £1,500;
- Your account offers payment reminders so you can keep track of your balances, as well as a well-structured mobile app;
- You will have free, unrestricted access to your TransUnion credit report and score for three years, as well as credit alerts and an updated CreditView report every 28 days;
- Earn points on every purchase.
Cons
- You may get a balance transfer, money transfer, or cash advance for only 3.99%.
- Cash withdrawals, cash transactions, and wire transfers all have an annual percentage rate of 39.94%.
Minimum credit score to apply
Although there is no required minimum credit score to apply for the Tesco Foundation Credit Card, there are still some requirements.
Tesco requires a minimum income of £5,000, as well as being a UK resident and being 18 or older.
You must also have a stable income and the ability to repay at least £25 every month.
Still, if you want to make sure you qualify, you can ask Tesco to run a soft test to check your eligibility.
This quick, non-invasive check of your credit won’t harm your score and takes a few minutes.
How to apply for the Tesco Foundation Credit Card?
If you’ve decided to apply for the Tesco Bank Foundation Card after this review, you can do so by filling out the secure online application form.
Check our next post to learn more about the application.
Tesco Foundation Credit Card: how to apply
Learn now how to apply for Tesco Foundation Credit Card. Earn points on every purchase! Keep reading and learn more!
About the author / Giovanna Klein
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