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Regulatory Disclosure

Regulatory Disclosure

Tesco Personal Finance plc (trading as Tesco Bank) is authorised by the Prudential Regulation Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules. Registered in Scotland no. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ. Our credit institution reference no. is C27325.

Credit card glossary

Below you’ll find a number of terms which relate to credit cards and their use

  • Account - your credit card account
  • Account Number - A unique number assigned by a financial institution to a customer. On a credit card, this number is embossed and encoded on the plastic card
  • Additional card - a card we issue to someone (an additional cardholder) nominated by you
  • Advance - a transaction where you get cash, foreign currency or travellers' cheques or carry out a gambling transaction by using the card
  • Advance limit - the most you are allowed to owe on your account at any time, by the way of advances and money transfers
  • APR (Annual percentage rate) - This is the amount of interest and charges you will be expected to pay, should you borrow on your credit card. The APR is a figure designed to give consumers some idea of the cost of borrowing on the credit card. Other factors such as the date from which the interest is charged and the number of days you have to pay the interest also affect the cost of borrowing
  • Bad Credit - A term used to describe a poor credit rating. Common practices that can damage a credit rating include making late payments, skipping payments, exceeding card limits or declaring bankruptcy. "Bad Credit" can result in being denied credit
  • Balance transfer - a transaction where we repay a debt you owe to another financial institution and charge the amount of that debt to your account
  • Card - any credit card we provide under this agreement
  • Cheque - a cheque paid from your account
  • Credit limit - the most you are allowed to owe on your account at any time
  • Gambling transaction - a transaction where payment is made to an establishment that is identifiable by us as carrying on gambling, whether or not the purpose of the transaction is payment or gambling activity
  • Notice of Variation (NOV) - The Notice of Variation is a document used to communicate changes we are making to the terms and conditions of your credit card. The NOV shows amended text as well as a summary of why we have made the change
  • Password - a password chose by you for use with the card when making transactions on the internet
  • PIN - the personal identification number you use with the card
  • Purchase - a transaction where you buy goods or services with the card
  • Special offer - a reduced rate of interest or special terms we offer for a category of transactions or in relation to your account
  • Tesco - Tesco PLC and its subsidiaries
  • Transaction - any payment made (or cash withdrawn) by you or an additional cardholder using the card or card number
  • We, us, our - Tesco Personal Finance plc and any person our rights and duties may be transferred to
  • You, your - The cardholder in whose name the account is opened