Tesco CC & Travellers Cheques 21 October 2012 at 10:57AM edited 21 October 2012 at 10:02PM in Stoozing: free cash from credit cards 2 replies 3.1K views

someone

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?

YorkshireBoy

someone wrote: »

Sterling Travellers Cheques have a 1% commission.

The commission on Sterling TCs is 1.25%, according to their website.

someone

Thanks, corrected it in the first post