Tesco Credit Card

[hc4361]

I have been using the Tesco Credit Card for everything I possibly can for years. I pay it off in full each month so it does not cost me anything, and I make around £20 a month in Tesco Clubcard Vouchers, so I'm very happy with it.

I've just had an email from them telling me about their new Premium Credit Card that will have less benefits than I get already - but will have an annual charge of £150!

That is shocking. I'm concerned it is a hoax and tried to log in to my Tesco Bank Account but it seems to down at the moment. Also it seems impossible to apply for a credit card as a new customer.

I would be grateful if some kind soul would have a look at the website and tell me if they can view the full range of cards on offer.

I won't provide a link in case I've been using a dodgy one, but search Tesco Bank and you will find it.

Thank you

[Jackdaw33]

I would ring them and ask.

[Buenchico]

There seems to be an error on the Tesco Bank website because, although there are lots of links which allegedly allow you to explore the different cards which they offer, they simply take you round in circles! (I've even tried switching browsers, in case their website doesn't like Firefox).

The wording on links such as "Learn more about our range of credit cards" clearly suggests that there are several types on offer but such links lead nowhere and the only information available is about the 'normal' Tesco Clubcard Credit Card.

As JD33 suggests, a call to 0345 300 4278 might be your best option.

[hc4361]

Thanks, both - that's the error I was getting on the website, too.

£150! I'm just shocked

[TheChair]

Like Buenchico, I went round in circles, but I did find this, that may explain the difference in benefits:
"For the Premium Credit Card you collect 1 Clubcard point for every £1 spent (£1 minimum) in Tesco and 1 point for every £4 spent (£4 minimum) outside Tesco in each purchase transaction.

For all our other credit cards you earn 1 Clubcard point for every £4 spent (£4 minimum) in Tesco and 1 point for every £8 spent (£8 minimum) outside Tesco in each purchase transaction."

[alavahalf]

You are right .. I've got the same email from Tesco about their new card. ... £150 annual fee and a whopping 56.5% variable rate . All of a sudden you will need your your Clubcard points ti pay your annual fee.

[hc4361]

Do you think they will get rid of the existing, free card? Gone are the days when banks made big money from the fees shops pay when customers pay by credit card and the penalties paid by defaulting customers.

It's not so long back that I got an extra 1 point per £1 for paying with my credit card. Time to look elsewhere, I think

[Buenchico]

>>> For the Premium Credit Card you collect 1 Clubcard point for every £1 spent (£1 minimum) . . .

So, if you only used the card in Tesco, you'd need to spend £15,000 per year before you started making any profit from your Clubcard points (up until then you'd simply be using them to pay off the fee).

Let's say that you did, indeed, spend £15k in Tesco and a further £20k on your card elsewhere. You'd get a total of £200 in Clubcard points but, because of the fee, your actual profit would only be £50.

So, as I see it, the Premium Card would only be of value if either:
(a) you're so wealthy that you can routinely buy luxury cars (etc) using a credit card (which also means that you'd have to have a massive credit limit to do so!) ; or
(b) you're buying for a commercial enterprise using your own credit card. (e.g. someone running a big hotel might find such a card very useful)

[wolf63]

I got my cat insurance renewal from Tesco - £50 per month !!!!!!

I think that they are making many changes - especially to Clubcard Boost.

[hc4361]

I noticed this in the small print:
Earn rates are subject to change. You must have available credit. There are some products at Tesco you can't collect points on, see the Tesco Clubcard website for details.

It gets worse. :( You'd have to be crazy to take out such a card. Maybe it's a misprint and they mean £15?

[Jackdaw33]

As far as loyalty cards are concerned, they are a waste of space. I have a Nectar card. When I got it you received 2 points (1p) for every whole pound spent. Now it's just 1 point and they have stopped points on booze, which was my biggest outlay. It has taken me nearly three years to amass a balance of £9.40. I shall persevere till I get to £10, cash it in and the card goes in the bin. To earn that £10 I will have spent £2000.