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Tesco Bank
Ideal for building credit with a 29.9% APR, access to Clubcard rewards, and manageable credit limits from £200 to £1,500. Simple and clear application process.
If you have a limited or less-than-perfect credit history and want to improve your score, the Tesco Foundation Credit Card is tailored for you. This card comes with a 29.9% representative variable APR and offers initial credit limits from £200 up to £1,500. The monthly repayments start from just £25, making it an accessible option for those starting their credit journey.
Users are rewarded with Clubcard points for almost every purchase, whether spending with Tesco or other retailers. Access to Tesco Bank CreditView provided by TransUnion lets you track your credit score with monthly updates for up to three years—an invaluable tool for anyone serious about boosting their credit rating.
How to Apply: Step by Step
- Check your eligibility online without affecting your credit score. This takes only a few minutes and you’ll know if you can continue.
- If eligible, submit an application with your details online. Tesco Bank will then conduct a formal credit check.
- Upon approval, you’ll receive a credit limit between £200 and £1,500, tailored to your circumstances.
Notable Benefits
The Foundation Credit Card offers a rewarding loyalty programme, letting you earn Clubcard points nearly every time you spend—even beyond Tesco. There’s also the useful feature of regular credit limit review and potential increases if you maintain a good repayment record.
You can easily manage your account via mobile banking or online banking, giving you full control and flexibility over your finances and card usage.
Potential Drawbacks
While the interest rate of 29.9% is typical for credit-building cards, it’s much higher than standard credit cards. This means paying your balance in full is highly recommended to avoid high interest costs.
Additionally, the maximum initial credit limit of £1,500 may not be enough for everyone, and applying when you have a recent history of missed payments could limit your approval odds.
Our Verdict
The Tesco Foundation Credit Card is a practical tool for anyone aiming to improve their credit score while earning rewards on everyday spending. If used responsibly, it provides genuine value and a pathway to better credit in future.
