Checkout at 40: Tesco Unveil Own-Name Credit Card (Feb 1979)
Published on Aug 25 2015 7:39 AM
This year, Checkout commemorates its 40th anniversary under its current ownership, and with this in mind, every week, Retail Intelligence is going to ‘reel in the years’ and publish a story from our extensive archives. This article from February 1979 looks back at Tesco's introduction of an own-brand credit card scheme.
Tesco Stores Limited has announced that it will be introducing a Tesco own-name credit card scheme into all branches by this summer.
The scheme is to be launched in conjunction with Midland Bank, which will be responsible for administering and financing the scheme.
Customers will be able to use the Tesco Credit Card for purchases in any of the Group’s 600 stores, provided they spend a minimum of £20. Competitive rates of interest will be charged for the facility.
The scheme is being introduced as an additional service to shoppers and it is anticipated that it will 'enhance turnover'.
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