Loans Alternative Information Hub

We’ve answered some common questions around this type of credit card loan alternative.

  • 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 it’s pretty rare that it can’t be used while out and about in the UK. It can also be used to make purchases online and to make purchases when you go on holiday.

    There are fees to consider when using your credit card abroad though. Tesco charges an additional 2.75% on every purchase made with foreign currency.

  • Yes, for every £1 you spend you earn 4 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 the store, this can be a great advantage to choosing a Tesco 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. This allows you to view your account, check your payments are set up correctly and 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, this is possible. This card can be used to move money into your bank account, to pay for emergency expenses with ease. 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 a similar way but the money is directly transferred into your bank account once you are approved – within 15 minutes in most cases! This means there is no delay and nothing to do on your part after being accepted for your loan, to get the cash you need in the right place.

  • 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 process.

     

  • 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 another, 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.

  • You can use your Tesco credit card anywhere that displays the Visa or Mastercard symbols that are also on your card. Visa and Mastercard are payment networks, not card issuers.

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.

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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.

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**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.