Tesco Bank Launches Market Leading No Fee Credit Card

Tesco Bank is today introducing a market leading 'no fee' credit card, offering customers the most competitive deal in the low balance transfer fee market. The bank will offer 0% interest on balance transfers for 12 months, and will charge no balance transfer fee. Additionally, the card also offers 0% interest on purchases for 12 months.

Tesco Bank Clubcard Credit Card offers:

0% interest on balance transfers for 12 months, with no balance transfer fee

0% interest on purchases for 12months

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

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 no fee balance transfer credit card the most competitive currently in the low fee market. At Tesco Bank we are committed to offering our customers great value, transparent products that reward loyalty. This card provides customers with a great deal of flexibility. They can take advantage of a 0% balance transfer rate, with no fee, whilst also being able to spend on the card at 0% interest on new purchases for 12 months.”

Tesco Bank Credit Cards are available online by visiting www.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.

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For more information and media enquires please contact:

Sarah Wright (Tesco Bank)

email: sarah.wright@i.tescobank.com

phone: +44 (0) 7711 561 263

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 their longest 0% interest balance transfer credit card currently available to customers, offering 0% interest on balance transfers for 33 months (2.9% fee), meaning customers taking out a card now, will pay no interest on balance transfers until mid 2017.

*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.