The Tesco buy now pay later payment plan is a way for Tesco credit card holders to make a purchase of a selected item priced £250 and up at zero cost up front. When purchasing an item on the buy now pay later plan, you pay 0% of the total cost for the first six months. You do not have to pay any sort of deposit on the item you are buying. There are also no early repayment fees, should you want to pay off the full cost of the item before the full payment is actually due. Another bonus of the buy now pay later plan is that you continue to collect extra Clubcard points during the payment period for using your Tesco credit card.
Here is an example of how this option of payment would work. You purchase an item priced at £300. For the first 6 months, you get 0% of the cost with no monthly payments. Should you pay off the item in full at the end of the six month period, you will only pay £300. When the buy now pay later period is over, the remaining balance is automatically treated like a normal purchase balance. Additional costs will be charged at your standard purchase interest rate. From that point on, this amount will be included in the calculation of the amount due each month instead of being displayed separately in your summary of expenses.
In order to take advantage of the buy now later Tesco requires that you have enough credit on your card to cover the full cost of the purchase. You may only use this payment option with a UK Tesco credit card. If you do not have a Tesco credit card, you are not eligible for buy now pay later. Once you have a Tesco credit card, select whichever item you want to order either from the Tesco direct website or from the Tesco direct catalogue. Buy now pay later is only available over the phone at 0845 600 44 11. When calling, be sure to have your Tesco credit card and the catalogue numbers on hand. The operator on the other end of the line will let you know if your desired item is available for buy now pay later. If you cannot use the buy now pay later option for the desired item, Tesco will tell you of a similar item on the list that does qualify. Once you have confirmed that your item can be purchased on buy now pay later, you can go ahead and use your Tesco credit card and collect your extra Clubcard points. Your item will be delivered once the transaction is complete. You can view a summary of balances from the buy now pay later transaction on your next credit card statement. This amount will be listed separately at the bottom of your statement. From there, you can rest easy as your monthly payment amount is not changed, and you can enjoy your new purchase.