Tesco Bank Launches 32 Month Balance Transfer Offer on Credit Cards

Tesco Bank is today introducing their longest ever balance transfer offer on credit cards, one of the most competitive deals on the market. The bank will offer 0% interest on balance transfers for 32 months, meaning customers pay no interest on balances until early 2017. Additionally, customers that want to make purchases on the card can get 0% interest on new transactions for three months.

Tesco Bank Clubcard Credit Card offers:

0% interest on balance transfers for 32 months, with a balance transfer fee of 2.9%

0% interest on purchases for 3 months

Access to our new Mobile Banking App, making it easier for customers to manage their account

0% interest rates apply from account opening

Tesco Bank Clubcard Credit Card customers are rewarded with Clubcard points on their spending – receiving one point for every £4 spent on their card*, both in and out of Tesco stores. This means cardholders can collect points wherever they spend.

David McCreadie, Managing Director, Banking at Tesco Bank, commented:

“We are proud to be launching this offer today, which makes our balance transfer credit card one of the most competitive currently in the market. At Tesco Bank we are committed to offering our customers great value, simple products that reward loyalty. Today's changes demonstrate this commitment, as we continue to provide a choice of highly competitive credit card offers to meet the needs of Tesco customers.”

Tesco Bank Credit Cards are available online by visitingwww.tescobank.com/creditcards/. 24hr support is also available from our UK based customer service team who can be contacted on 0845 300 4278 or minicom number 0845 671 0676.

Notes to Editors:

Representative example: 18.9%APR representative (variable) - Based on a credit limit of £1,200 - Purchase rate 18.9% p.a. (variable).

Your credit limit may vary depending on your circumstances. Tesco Bank, PO Box 27028, Glasgow, G2 9FT

The Tesco Clubcard Credit Card is available to over 18s and UK residents only, subject to status. Customers can transfer up to 95% of their credit limit.

Tesco Bank also recently introduced the longest 0% interest purchase credit cardcurrently available to customers, offering 0% interest on spending for 19 months, meaning customers pay no interest on purchases until 2016.

*One Clubcard point is awarded per £4 spent in each purchase transaction (£4 minimum). Customers must have available credit. Clubcard points not received on balance transfers. The Clubcard Scheme is administered by Tesco Stores who are responsible for fulfilling points.

About us:

Tesco Bank provides credit cards, loans, mortgages, savings and general insurance products to 6 million customers.In June, we launched our first ever current account, meaning that Tesco Bank now offers a full range of retail banking and insurance products.

We aim to be the bank for Tesco customers by rewarding their loyalty and earning their trust. We opened for business in 1997 and since 2008 have been owned by Tesco plc. We now have approximately 4,300 colleagues based in Edinburgh, Glasgow and Newcastle, serving more than 7 million customer accounts. Tesco Bank's products and services are available online, on your mobile and via our UK customer call centres, seven days a week. Last year we gave more than £120 million in Clubcard points to Tesco Bank customers.

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