Tesco CC Upgrade

Fruit_and_Nut_Case

I've just received a letter...

Tesco_Bank wrote:

Dear Fruit and Nut Case,

As a thank you for being a Tesco Credit Card customer, we're pleased to tell you that we'll soon be upgrading your Tesco Platinum Visa Card to a Tesco World MasterCard.

Apparently they will credit me with 650 bonus Clubcard points each year as long as the account is open. I can opt out of the upgrade if I want.

I'm always suspicious of "free upgrades" so what's the downside? Anyone?

cse

Tesco will receive more interchange from a MasterCard World card than they do from Visa, so if it's a good way for Tesco to make a bit of extra income from you, particularly if you're paying off your balance in full every month .

It doesn't sound like there's any adverse affect to you - however just double check that there aren't any additional annual fees, interest rate hikes or a reduction of the time between your statement date and payment due date. If none of those are mentioned in the offer letter, go for it!

chattychappy

I'm sure someone will correct me if I'm wrong, but I believe some retailers have to pay more to accept World Mastercard.

I doubt it's an issue for you now, but I suppose there might come a time when some retailers refuse it or insist you pay extra - especially those online retailers that already charge for different types of plastic.

I too have a Tesco Plat Chargecard - but haven't received this "offer" yet.

dumbells

I received that letter a couple of years ago, it hasn't made any difference to me. I always pay mine off every month.

Sorry just re-read mine was changed from a normal to a platinum.

chattychappy

chattychappy wrote: »

I too have a Tesco Plat Chargecard - but haven't received this "offer" yet.

Just checked - mine is a Tesco Plat Clubcard - it's Mastercard, but I don't think it's a "World" Mastercard.

Any

chattychappy wrote: »

I'm sure someone will correct me if I'm wrong, but I believe some retailers have to pay more to accept World Mastercard.

I doubt it's an issue for you now, but I suppose there might come a time when some retailers refuse it or insist you pay extra - especially those online retailers that already charge for different types of plastic.

I too have a Tesco Plat Chargecard - but haven't received this "offer" yet.

Me neither, and I have to say I wouldn't give the offer a miss!!
650 is nice amount of points for just using it. I only use it for household shopping to maximise their points and with 1 point for every £4 spend (also calculated per transaction, not per statement amount!-ie spend £11.99 and you only get 2 points) it is not accumulating very fast..

I hope I will get one too!

splatt30

Mine changed from platinum to world mastercard last summer. I don't think I was given an option. My card was reaching it's expiry date and I was told that this was how my new card looked. Has changed how I use it or fees but it does have a different number so had to give new details where it was on recurring payment and to the online banking.

chattychappy

Probably better stuff around, but I found this link: http://www.credit-card-comparison-online.co.uk/articles/world-mastercard.html

paulsbank

I have just received this letter, I feel maybe I will keep my visa platinum version.
Think Visa is better accepted especially on european transactions.
I will follow the thread for a few days before I decide though.

Fruit_and_Nut_Case

chattychappy wrote: »

Probably better stuff around, but I found this link: http://www.credit-card-comparison-online.co.uk/articles/world-mastercard.html

Nice link. Thanks. I already have an Egg Money World Mastercard which I've had since before they started charging £1 per month for the privilege so I don't plan to dump that any time soon.

P.S. I've "Thanked" everyone so far in this thread for the useful information.

chattychappy

Fruit_and_Nut_Case wrote: »

P.S. I've "Thanked" everyone so far in this thread for the useful information.

And I've "thanked" you for being so .. thankful!