Tesco Bank extends 0% purchase credit card to unprecedented 28 months

Tom Wilson
20 September 2016

Tesco Bank has extended the offer on its 0% purchase credit card, charging no interest for an unprecedented 28 months.

The card is only available directly from Tescobank.com. Tesco’s best deal through aggregator sites is 17 months interest free purchases, with a 1,000 Clubcard boost (worth £10). 

The new deal knocks Sainsbury’s Bank and the Post Office off the top spot for 0% purchase deals, both of which offer 27 months.

The card’s default interest rate is 18.9% representative APR, but some successful applicants will be offered a higher rate.

Similarly, most people who qualify for the card will be offered the full 28-month 0% period, though some will be offered 25 or 22 months.

Moneywise verdict

This is now the longest interest-free deal for purchases on the market, and the fact you’ll earn Clubcard points on your spending is a nice extra – you get one point for every £4 spent in Tesco, and one point for every £8 spent elsewhere. One point is then worth 1p to spend in store, or you can quadruple points to spend on partner rewards, such as restaurant vouchers.

One drawback is that the card doesn’t offer eligibility checks, so you won’t know whether you qualify or not unless you apply, which will be noted on your credit record even if you don’t get offered the card. 

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