Following concerns that some accounts have potentially been compromised, Tesco Bank has cancelled a number of its customers’ credit cards. The bank claims that only of a small portion of its three million credit card customers have been affected, and it has sought to notify them via sms.
This latest incident will leave a bad taste in mouth of customers some of whom may also have been affected by similar troubles in December 2017 and in 2016.
If your account is one of the affected Tesco says that you don’t need to do anything, as new cards will be sent out next week. That being said, it would be wise to keep an eye on your account and report any unusual activity immediately.
A spokesperson for the bank stated
We take the security of our customers' accounts very seriously and take every measure possible to protect customers from fraudulent activity.
As a result of routine industry-wide fraud protection measures, we have reissued a number of credit cards as a precautionary measure.
We apologise to our customers for any inconvenience caused as a result.
Of course if you are one of the affected and were currently using your card abroad or away form home, then these statements will provide little in the way of consolation.
The top 0% balance transfer credit cards
For those looking to transfer their credit card balance away from Tesco Bank, then now has never been a better time. Currently there are five top zero per cent credit card deals offering up to 36 months interest free.
MBNA – offers up to 36 months 0% for a 2.49% fee
Barclaycard – recently reduced its 0% term from 36 to 35 months, but also reduced its fees to just 1.35%
Halifax – has the top no-fee card offering 0% on balance transfers for 26 months
Sainsbury's – Also offers a no-fee 0% balance transfer card for a slightly longer 28 months
Virgin Money – offers 0% on balance transfers up to 35 months, but charges the highest fee of those on our list at 2.8%