Tesco ClubCard CC points

loofer

Hi,

I'm looking to settle my Student Loan which is circa £8k. I could pay this directly with my debit card but I thought I would see if I could use my CC to pay it off and get circa 2000 points (in theory). This would be a direct payment rather than BT. The Student Loans website accepts payments with Mastercard and there's no mention of a fee.

Now my Credit limit is only £4k and they can't increase my limit to the £8k.

If I was to pay £8k cash on to my CC as a credit first and then use that to pay would I still get the clubcard points?

The alternative, but marginally longer, route would be to pay of £4k on the loan in 1 transaction, pay the balance of my CC using Online Banking then wait a few days for that to clear before making the final £4k payment. It's quite simple but I'm more concerned about getting the ClubCard points.

mab2000

Im assuming that you currently do not have a balance on this credit card. I may be completely wrong here, but i very much doubt that they will accept an £8k payment so that you are £8k in credit. I would be very surprised if they do!
Also, i believe that tesco award points only on purchase transactions. As you are paying off a loan, i would think that some credit card companies may treat this as a cash advance rather than a purchase. If this is the case for tesco, then i doubt you would get any clubcard points if they treated the transaction as anything other than a purchase.
Ok i know im completely guessing here and not offering any fact but i would be very surprised if your plan works, and i would be interested to find out if it does. Maybe a good idea to call tesco personal finance themselves to check if you will get points and if they will allow you to put an £8k credit onto your account.

Phantom_Flan_Flinger

I think the alternative route is the way to go.

loofer

Yes 2nd route appears more straight forward at the mo.

mab2000 - I would have put the £8k on the card using online banking though I would guess it may expect some fraud markers to be alerted. So they would either return the payment or call me almost immediately if wasn't going to go thru straight away.

The transaction would be like any other online payment. It would be the SLC that would be taking the payment from my card. I don't think (assuming) Tesco would know what the transaction was for so they couldn't really charge me a cash advance.

loofer

No such thing as a free lunch

the SLC would charge a £63 card processing fee if paid by Credit Card.

Scratch that then!!

duggie1982

loofer wrote: »

No such thing as a free lunch

the SLC would charge a £63 card processing fee if paid by Credit Card.

Scratch that then!!

lol :rotfl::rotfl::rotfl::rotfl::rotfl: