Sunny’s alternative to Tesco credit cards

Sunny alternative to credit cards from Tesco

Representative 1281% APR

Find out more about Tesco credit cards and how a loan from Sunny compares

More and more high street supermarket brands are now branching out into financial products. From banking to home insurance you can pick up your weekly shop and sort your important life admin out at branches of Sainsburys, Tesco and Waitrose.

Here we’ve taken a look at Tesco’s credit card offering and what this involves, as well as what Sunny offers as an alternative when you need cash fast. Read on to find out more and be sure to check out our other guides on lenders before applying for any credit product.

What is a Tesco Clubcard credit card?

You’ll find a range of credit card options available from Tesco Bank, all of which enable you to collect additional Clubcard points whenever you use your card in store – four points for every £1 spent. The credit limit you can get with a Tesco Clubcard credit card starts at £250, and is determined by your personal credit history.

Tesco has created a selection of credit cards that each offer something different for their customers, we’ve broken these down in the table below:

 

Tesco credit card What it offers
Purchases This credit card can help you spread the cost of your everyday expenses. You’ll get 0% interest up to 26 months.
All Round Card This card offers a bit of everything, with 0% interest for the first 12 – 15 months on purchases, balance transfers and money transfers.
Balance Transfer Card This card allows you to transfer balances from another credit card onto this one with 0% interest for up to 3 months.
Money Transfer Card You can transfer money from your credit card to your bank account and not pay interest on this for 3 months.
Foundation Card This credit card can be used to improve your credit rating over time.
Low APR Card If you want to keep your repayments low, to ensure managing your monthly budget is as simple as possible, this card has a lower APR and one month 0% interest.

There are a wide range of options when it comes to credit cards, which can make things confusing when deciding what to choose. Sunny’s short-term loans keep things simple, so if you are considering a credit card for an emergency purchase, Sunny could be a good alternative.. While a short-term loan is an expensive way to borrow, if used as intended for a short period of time, it can be an affordable option to fund an unexpected or emergency expense.

With Sunny, you can choose a loan in amounts from £100 to £2,500 to cover a range of costs – plus there’s no delay waiting for it to arrive in the post. If you are approved funds can be transferred to your bank account in as little as 15 minutes. With a Tesco credit card, it can take 5 – 7 days to arrive through the post, after your application has been approved,

 

You can use a Tesco credit card like a normal debit card, to make purchases in store and online and some variations of the credit card can even be used to withdraw money or transfer what you’ve borrowed into your bank account.

You can use a Tesco credit card anywhere that displays the Visa or Mastercard symbol, so you will be able to use it out and about across the UK apart from very rare places. It can also be used to shop online or to make purchases when you go on holiday.

It’s important to note that there are fees to consider when using your credit card abroad. Tesco charges an additional 2.75% on every purchase made with foreign currency.

Yes, for every £1 you spend you earn four Clubcard points. Every three months these are turned into vouchers for you to spend in store, to shave off some money on your everyday groceries or get you a better deal. If you shop regularly in at Tesco, this can be a great advantage of choosing their credit card.

You can check the balance on your Tesco credit card by logging into your online banking account on a desktop computer or using the mobile app. You will be able to view your account, check your payments are set up correctly, and see what you still have left to pay on the card.

You can also call Tesco’s customer services team and ask them to confirm what your balance is on your credit card.

If you opt for the Money Transfer credit card then yes, it is possible to move money to your bank account quite easily. You can move up to 95% of your credit limit to your bank account and it will take one to two days for the transfer to go through.

A short-term loan from Sunny works in the same way but the money is directly transferred into your bank account once you are approved - within 15 minutes in most cases! After being accepted for the loan, there is no delay and nothing to do on your part to get the cash you need where you need it.

Yes, you can apply for up to two Tesco credit cards. The second card can only be applied for if it has been longer than a month since the first was received and you don’t have another application already in progress.

Tesco Bank, Tesco’s separate banking brand, owns and manages their credit card products. This means everything is kept in-house and you’ll be dealing with Tesco directly should you have any issues.

It’s important to know who owns your credit cards and if there are any limitations on how they can be used. For example, if you have already have a Tesco credit card and apply for a second card with them, you won’t be able to transfer the balance from one card to the other. You would need to apply for a balance transfer credit card from a new provider.

Loan vs credit card

Here, we’ve broken down the main difference between a loan from Sunny and a credit card from Tesco.

 

Sunny Tesco credit card
Borrowing amount You can take on a short-term loan from Sunny and borrow from £100 up to £2,500. You can apply for a minimum limit of £250 with a Tesco credit card and the maximum you are granted depends on your credit history.
How long will it take to receive my money? If you are approved, your loan will be transferred directly to your bank account in just 15 minutes. It takes 10 minutes to apply for a credit card with Tesco, then if you are approved you will need to wait 5 – 7 days for it to arrive.
Are there any fees? No, Sunny do not charge fees. There is a £12 default fee if you do not make a payment on time, if a payment can’t be taken, or if you go over your agreed credit limit.
How long do I have to pay my loan back? You have between six and 14 months to pay back a short-term loan and up to 2 years to repay our personal loans. As with any credit card, you will pay back what you borrow monthly, and will make payments for as long as you have a balance. It’s a good idea to keep an eye on any 0% interest periods and ensure your card is paid off before these finish.
Can I pay back my loan early? Yes, you can pay back your loan with Sunny early and there is no fee to do this! You can make additional payments or repay your balance in full at any time
Credit check? Yes, you will be subjected to a credit and affordability check. You can also check your eligibility for a Sunny loan before you apply*, to avoid a hard credit check if you are unlikely to be approved. Yes, Tesco Bank will perform a hard credit check when you apply for one of their credit cards.

 

Think a loan may be the best choice for you?

You can apply for one of our loans via the link below, to help with those emergencies and get your hands on some life support.

Some further reading

Want to know about how we compare to other lenders on the market? We’ve created some in-depth guides here on the site.

*Soft search is currently only available to new customers. Our eligibility check will assess whether you meet our lending criteria. Even if you are eligible, we may still require proof of ID and/or proof of income before we approve the loan.