- Dynamic voltage–current characteristics of an HTS Ag/BiSCCO composite tape are studied both experimentally and theoretically. The tape is subjected to pulsed currents with different shapes and magnitudes and voltage traces are measured using the four-point method with different locations of potential taps on the sample surface. Clockwise and anticlockwise hysteresis loops are obtained for the same sample depending on the location of the potential taps. The dynamic characteristics deviate substantially from the DC characteristic, especially in the range of low voltages where a criterion for the critical current value is usually chosen (1–10 µV cm−1). The critical current determined from dynamic characteristics and its change with the pulse magnitude depend on the location of the potential taps and on the curve branch chosen for the critical current determination (ascending or descending). The theoretical analysis is based on a model of the magnetic flux diffusion into a composite tape for a superconductor described by the flux creep characteristic. Numerical simulation based on this model gives results in good agreement with the experimental ones and explains the observed peculiarities of the dynamic characteristics of HTS composite tapes. The difference between the magnetic diffusion into a tape and a slab is discussed.