Tesco is a popular supermarket chain in the UK, but it also has a banking division. The financial products they offer include a range of credit cards. If you have a credit card with Tesco Bank, then you might decide to cancel at any point. Whether this is because you are not happy with Tesco Bank, or you are closing your account because you are done borrowing, you might not know how to do it. In that case, you can read this guide to find out what you need to do in order to cancel your Tesco credit card in the most convenient way.
Cancel by Telephone
1) You can call Tesco Bank on 0843 557 3623 to discuss cancelling your Tesco credit card. Press 1 to confirm that you are an existing Tesco Bank customer. Or, if you are calling to cancel because your card is lost, you need to press 3 to report this. It will ask you to enter your 8-digit Tesco Bank account number to proceed. If you do not know your account number, you can simply hold the line and it will connect you to a person.
2) When you are speaking with an agent from Tesco Bank, you will have to provide details to confirm your identity before you can discuss your account and making changes to it. Then you can ask them about the conditions of your credit card to make sure that you are able to cancel it. Generally, you will have to pay off the balance left on your card in full before you can close your account, as well as any residual interest on it.
3) If you have a credit card with an annual fee, such as the Premium Credit Card, you will not get a refund for that fee unless you cancel within 14 days of starting the credit agreement. When there is no annual fee, you will only have to worry about paying off the balance and interest. If you overpay and your account is in credit, then you will have to request a refund of this amount before Tesco Bank can close your credit card.
Since a credit card agreement is a significant financial contract, you cannot cancel it online simply with a click of a button. However, you can log into your Online Banking account to monitor and manage credit cards. You can view your payments and balance to see how much you still need to repay and check your monthly payment date. This will help you to work out how long you should wait before trying to cancel.
You can also pay off the remainder of your balance online before calling to cancel the card, to make things easier for you overall. Tesco Bank does not have an e-mail address for credit card customers to use to get in touch with them. You can privately message their customer services team on social media if you need to get help with cancelling your credit card account. Only provide your personal details in direct messages on Twitter or Facebook. Never post personal information in public comments to protect yourself from fraud.
Cancel by Post
Another way to cancel your Tesco credit card is to write to them. You should only do this if you know that you have paid off your credit card debt. Otherwise, Tesco will need to get in touch with you to discuss the account, which will make the process even slower. If you are getting rid of the card, then you can cut it up and include the pieces with the letter if you choose to. However, the account may accrue residual interest in the meantime, so you might still have to pay this off before you can close the account. It is important to keep checking with Tesco Bank that they are definitely closing your credit card account. The longer it stays open, the more interest will be added. If you do decide to write a letter, then send it to this PO Box address:
PO Box 27028