Log in Register Bank Credit Cards Loans Savings Insurance Tools and guides Community Help Credit Cards Interest rates and fees Interest rates and fees for our Credit Cards We’ve laid everything out clearly and simply, so you'll know exactly what to expect Managing your credit card Make sure you understand how your credit card works so that there are no surprises. It’s important that you’re organised with your monthly payments so you can avoid unexpected interest and fees. Here are some things to consider: If you use your card, you’ll need to make a payment every month – even if you are on a 0% interest rate. We’ll send you a statement every month to let you know when, and how much you need to pay. If you forget to pay, or make your payment late, where applicable, you’ll be charged a £12 Late Payment fee, and you’ll lose any 0% interest rate you are on. Refunds don’t count towards your minimum payment – you’ll still need to make a payment if a refund has been made to your account. Don’t go over your credit limit. If you do, where applicable, we’ll charge you a £12 Over Limit fee and you’ll need to pay back anything above the limit as soon as possible to avoid further charges. Our Fees We charge fees on some transactions – here’s a quick look at the standard fees for our credit cards. If you already have one of our credit cards, you can also check your monthly statement or credit agreement for your individual interest rates and any introductory fees. Clubcard Credit Card Fee Description Standard rate Balance Transfer fee If you make a balance transfer to an existing Tesco Bank credit card, you’ll be charged a handling fee of 3.99%. The fee will be charged on the day we receive the money. You’ll pay interest on the fee at the same rate that applies to the balance transfer. Standard rate Money Transfer fee If you make a money transfer from an existing Tesco Bank credit card, you’ll be charged a handling fee of 3.99%. The fee will be charged on the day the money is sent. You’ll pay interest on the fee at the same interest rate that applies to the money transfer. Cash Withdrawal fee If you withdraw cash from an ATM, over the counter, at a bank or from a cash provider, you’ll be charged a handling fee of 3.99% with a minimum of £3.00. You’ll also pay interest on this fee from the day you withdraw the cash at the same rate that applies to the cash withdrawal. Cash Transaction fee You'll be charged a 3.99% fee on cash transactions. A full list of transactions we class as cash and some examples can be found via the find out more link on the left. You’ll pay interest on this fee from the date you make the transaction at the same rate that applies to the cash transaction. Find out more Foreign Exchange fee You’ll be charged a 2.75% fee on any transactions you make in a foreign currency. You’ll pay interest on this fee at the same rate that applies to the transaction you made. Returned Item fee We’ll charge £12.00 if your Direct Debit, cheque or other payment fails or ‘bounces’. You’ll pay interest on this fee at the rate we charge for purchases. Find out more Default Fee Default Fee Description Over Limit fee You'll be charged £12.00 every time you go over your credit limit or stay over it during your statement period. You'll pay interest on this fee 28 days from when we tell you it's been charged. Interest will be charged at the rate we charge for purchases and you won't pay interest on this interest. Find out more Late Payment fee You'll be charged £12.00 if you don't make your minimum payment on time. You'll pay interest on this 28 days from when we tell you that the fee has been charged. Interest will be charged at the rate we charge for purchases and you won't pay interest on this interest. Find out more Clubcard Plus Credit Card Fee Description Standard rate Balance Transfer fee If you make a balance transfer to an existing Tesco Bank credit card, you’ll be charged a handling fee of 3.99%. The fee will be charged on the day we receive the money. You’ll pay interest on the fee at the same rate that applies to the balance transfer. Standard rate Money Transfer fee If you make a money transfer from an existing Tesco Bank credit card, you’ll be charged a handling fee of 3.99%. The fee will be charged on the day the money is sent. You’ll pay interest on the fee at the same interest rate that applies to the money transfer. Cash Withdrawal fee If you withdraw cash from an ATM, over the counter, at a bank or from a cash provider, you’ll be charged a handling fee of 3.99% with a minimum of £3.00. You’ll also pay interest on this fee from the day you withdraw the cash at the same rate that applies to the cash withdrawal. Cash Transaction fee You'll be charged a 3.99% fee on cash transactions. A full list of transactions we class as cash and some examples can be found via the find out more link on the left. You’ll pay interest on this fee from the date you make the transaction at the same rate that applies to the cash transaction. Find out more Foreign Exchange fee No fee. Returned Item fee We’ll charge £12.00 if your Direct Debit, cheque or other payment fails or ‘bounces’. You’ll pay interest on this fee at the rate we charge for purchases. If you applied for your Clubcard Plus Credit Card before 21st July 2020 you will not be charged a Returned Item fee. Clubcard Plus monthly subscription fee You pay £7.99 a month for your Clubcard Plus subscription. Default Fee Default Fee Description Over Limit fee You'll be charged £12.00 every time you go over your credit limit or stay over it during your statement period. You'll pay interest on this fee 28 days from when we tell you it's been charged. Interest will be charged at the rate we charge for purchases and you won't pay interest on this interest. If you applied for your Clubcard Plus Credit Card before 21st July 2020 you will not be charged an Over Limit fee. Late Payment fee You'll be charged £12.00 if you don't make your minimum payment on time. You'll pay interest on this 28 days from when we tell you that the fee has been charged. Interest will be charged at the rate we charge for purchases and you won't pay interest on this interest. If you applied for your Clubcard Plus Credit Card before 21st July 2020 you will not be charged a Late Payment fee. Premium Credit Card Fee Description Standard rate Balance Transfer fee If you make a balance transfer to an existing Tesco Bank credit card, you’ll be charged a handling fee of 3.99%. The fee will be charged on the day we receive the money. You’ll pay interest on the fee at the same rate that applies to the balance transfer. Standard rate Money Transfer fee If you make a money transfer from an existing Tesco Bank credit card, you’ll be charged a handling fee of 3.99%. The fee will be charged on the day the money is sent. You’ll pay interest on the fee at the same interest rate that applies to the money transfer. Cash Withdrawal fee If you withdraw cash from an ATM, over the counter, at a bank or from a cash provider, you’ll be charged a handling fee of 3.99% with a minimum of £3.00. You’ll also pay interest on this fee from the day you withdraw the cash at the same rate that applies to the cash withdrawal. Cash Transaction fee You'll be charged a 3.99% fee on cash transactions. A full list of transactions we class as cash and some examples can be found via the find out more link on the left. You’ll pay interest on this fee from the date you make the transaction at the same rate that applies to the cash transaction. Find out more Foreign Exchange fee You’ll be charged a 2.75% fee on any transactions you make in a foreign currency. You’ll pay interest on this fee at the same rate that applies to the transaction you made. Returned Item fee We’ll charge £12.00 if your Direct Debit, cheque or other payment fails or ‘bounces’. You’ll pay interest on this fee at the rate we charge for purchases. Find out more Annual fee You'll be charged a £36.00 annual fee on the statement after you make your first transaction. It will then be charged every year on the month you first opened your account. You'll pay interest on this fee at the rate we charge for purchases. Default Fee Default Fee Description Over Limit fee You'll be charged £12.00 every time you go over your credit limit or stay over it during your statement period. You'll pay interest on this fee 28 days from when we tell you it's been charged. Interest will be charged at the rate we charge for purchases and you won't pay interest on this interest. Find out more Late Payment fee You'll be charged £12.00 if you don't make your minimum payment on time. You'll pay interest on this 28 days from when we tell you that the fee has been charged. Interest will be charged at the rate we charge for purchases and you won't pay interest on this interest. Find out more Understanding interest When and how interest is charged Where to find your interest rates Introductory/promotional interest rates If you don’t pay off your balance in full each month, you will be charged interest on your balance, in most cases. If you can’t pay your balance in full, make sure you pay at least your minimum payment to avoid unexpected fees. Interest is charged from the date the transaction or fee is added to your account. For cash withdrawals and cash transactions, it’s charged from the date the withdrawal or transaction is made. You’ll pay interest on default fees 28 days from when we tell you that the fee has been charged. Interest will be charged at the rate we charge for purchases, and you won’t pay any interest on the interest. Something worth noting… If you only pay your minimum payment each month it will take you longer to clear your balance and cost you a lot more in the long term. If you pay at least double your interest, fees and charges every month, you’ll reduce your balance much quicker. About us Changing for climate change Corporate website Careers Contact us Our partners Tesco.com Media and investors Security and legal Security and Fraud Centre Social Media House Rules Privacy and cookies Website terms of use Accessibility Follow us © 2021 Tescobank.com. All rights reserved. Sitemap