Tesco Bank announced the launch of a new credit card with zero interest balance transfers, reported The Daily Mail. The new Tesco Bank Clubcard credit card also allows accountholders to make interest-free purchases for the first 12 months upon registration. Users will receive a Clubcard point for every £4 spend using the credit card.
Tesco’s new card represents the first card in the UK market to provide an interest-free period on balance transfers. Cardholders are also able to pay off debt balances using the card without added costs. Tesco expects that program will appeal to consumers who believe they can pay off debts using the card within a year’s time.
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