Can’t pay my Tesco credit card
If you can’t pay your Tesco Credit Card bill on time, you need to take action quickly. Do not ignore the situation and hope it will go away. Debt has a nasty habit of spiraling out of control.
If your Tesco Credit Card is one of several loan repayments you are struggling to make, you should consider setting up a Debt Management Plan with a reputable Debt Help Company. We recommend this company because they are leaders in the debt help industry and get excellent reviews.
I can’t pay my Tesco Credit Card, what should I do?
If you default on your Tesco Credit Card, Tesco Bank with try to get in contact with you. Do not ignore their attempts to contact you. If you do it will appear to them that you are trying to avoid sorting out the issue. From what they say on their website it would appear that they will do whatever they can to accommodate you. Obviously this assumes you can still make a payment that is reasonable in their eyes.
If you know you are in serious financial difficulty and you have several financial obligations that you are unable to meet then you probably need to get help from an experienced debt help organisation like the one we recommend.
It is always worthwhile looking at who you owe money to and how much their interest rates are. We suggest you focus on paying off the credit card that is charging you the highest interest rate. It is also a good idea to completely pay off loans if they only have a small balance. In other words try to lower the number of creditors you have as each creditor is a liability. It is also very satisfying when you pay off a loan which will hopefully motivate you to carry on the work and effort it takes to get out of debt.
This is what Tesco advises their customers who are struggling to make payments towards their Tesco Credit Card
If you’re facing difficult times financially we encourage you to contact us directly and at an early stage.
The first thing to do is get in touch with us, the sooner the better – call 0345 301 4971* (or 0345 030 3188* if you only have Insurance products with us). You’ll speak to a specialist advisor who will be sensitive to your specific situation. We’ve created a list of FAQs that talk through the most common scenarios.
We’ll help you work out what’s affordable by completing a budgeting form. This will document all your income and outgoings, including what you owe to any other creditors. You’ll then get a true reflection of what your disposable income (what’s left after everything is paid) actually is and what you can realistically afford to pay.
Helping you manage your money
Getting into debt can happen to anyone, and if you’re having trouble managing what you owe it can be very stressful. If you’re worried about your debts, there are a number of steps you can take to manage them.
Analyse your money
Keep a record of where your money goes each month – you may be surprised by how you’re spending it. The best way to keep track of your money is to note down the amount you spend every time you go shopping. Getting into the habit of keeping a close eye on your spending habits will give you a good idea of where you can cut back.
The amount you spend can be split into categories, including:
- monthly essentials, such as groceries, rent/mortgage payments, bills and transport
- occasional necessities, such as clothing and toiletries
- luxuries and treats, including meals out, holidays or entertainment items.
Draw up your list of essentials and compare this cost to your monthly income. The difference between the two is your disposable income. If you can afford to, factor in the luxuries that you really don’t want to do without, and then calculate what you have left over for savings or debt repayment.
Stick to a budget
Set a budget for yourself and stick to it. Get into the habit of checking your spending every month to make sure you don’t start to stray – small purchases can quickly mount up. This is one of the simplest ways to manage your money. If you need help putting your budget together, then the Money Advice Service has a free online planner that could help get you started. Remember to review your budget if your circumstances change.
Do you want to make a complaint about Tesco Credit Card
You can contact Tesco Credit Cards in several ways:
Over the Phone
To make a complaint over the phone, please call Tesco Customer Service on 0345 300 4278
Credit cards customer services – using a Textphone (minicom) 0345 671 0676
Alternatively, you can put your Tesco Credit Card complaint in writing and send it to:
Tesco Bank Credit Card Operations,
PO Box 27028,
The Financial Ombudsman Service
The Financial Ombudsman Service is an external body which plays a key role in the complaints process. The Financial Ombudsman is an impartial and independent organisation formed to help settle individual disputes between consumers and financial services businesses without taking sides.
Taking a complaint to the Financial Ombudsman Service
If Tesco Bank has not been able to resolve your complaint to your satisfaction once they have given you their decision, you are able to refer your complaint to the Financial Ombudsman. The Financial Ombudsman will only investigate your complaint if you have already tried to resolve it with Tesco Bank first or if it has been more than eight weeks since you first raised your complaint with Tesco Bank.
If you are going to the Financial Ombudsman Service because you are unhappy with the outcome of your complaint, you will need to do this within six months of receiving their final response letter.
You also need to contact the Financial Ombudsman Service within six years from the event you are complaining about (or – if later – three years from when you knew, or could reasonably have known, you had cause to complain).
Contacting the Financial Ombudsman Service
You can contact the Financial Ombudsman Service:
Financial Ombudsman Service
by email: firstname.lastname@example.org
by telephone : 0800 0 234 567
You can contact the Financial Ombudsman Service via an Online Dispute Resolution (ODR) platform that has been created by the European Commission.
The ODR platform will forward your complaint to the Financial Ombudsman Service.
For more information about ODR please visit the European Commission website.
Before you go to the Financial Ombudsman Service, you may find it helpful to make use of the FLA’s conciliation scheme to resolve your complaint.
You can write to: the FLA’s Conciliation and Independent Arbitration Scheme, addressed to:
The Compliance Manager
Finance & Leasing Association
London WC2B 6UN
Fax: 020 7420 9600
Tesco Credit Card – The legal stuff
Tesco Bank Credit Cards are provided by: Tesco Bank, PO Box 27028, Glasgow, G2 9FT