Tesco CC & Travellers Cheques

edited 21 October 2012 at 10:02PM in Stoozing: free cash from credit cards
2 replies 3.1K views
someonesomeone Forumite
798 Posts
Part of the Furniture 500 Posts Name Dropper
Hi All

I was wondering if anyone has used travellers cheques to snooze from the Tesco Clubcard Credit Card.

If I have read it correctly you can use your card to create a purchase on tesco travel money. Sterling Travellers Cheques have a 1.25% commission. Whilst it is treated as a purchase it is deducted from your Cash Advance limit (mine is on the letter that the card came with 30% of the credit limit). So 30% of the limit given to me is £750, taking into account the commission I can get £740 worth of Sterling Travellers Cheques and pay them into the bank.

My main bank say they dont allow Travellers Cheques to be deposited, but I believe others which I also have current accounts with do for free (Lloyds TSB, HSBC).

Have I understood that all correctly?
Anything I should know?
And do Tesco allow that cash advance limit to be lifted?


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