Tesco Clubcard - Travel Money

mbge9pjb

I have recently received a Tesco Clubcard with a long interest free purchase period (12 months+)

I am due to go on holiday and noticed an offer they have where by you can buy travel money using your clubcard and it would be treated as a purchase instead of a cash transaction, so in theory it would count towards my interest free purchase period.

Just wondering if anybody has taken opportunity of this offer and their experiences of it, is there anything to watch out for?

Thanks

lynwill53

I have now used Tesco's Travel Money several times and it's all true. I posted about it recently but have forgotten the thread name. Durr!
If you use a Tesco Credit Card to pay for your currency, you will pay no transaction charges or interest (obviously you have to pay it off in full!).
Free next-working-day delivery over £500, and Travelex rates of exchange. A very good service, IMO.:money:

grumbler

lynwill53 wrote: »

I posted about it recently but have forgotten the thread name. Durr!

Definitely you didn't - unless you have another alias(es). With just 5 posts count it's very easy to check.

If you use a Tesco Credit Card to pay for your currency, you will pay no transaction charges or interest (obviously you have to pay it off in full!).
Free next-working-day delivery over £500, and Travelex rates of exchange. A very good service, IMO.

Depending on the amount you can get a better rate:

• TravelMoneyMax.com Find the cheapest online holiday cash

However, I am not 100% sure that it will be classed as a purchase. In their Glossary of terms they define Cash advances as "when you use your credit card at an ATM or in a bank to take out cash from your credit card account".

mbge9pjb

I'm currently paying the minimum each month which is why I am not sure if this is suitable for me if I am looking to avoid interest charges. I have not called customer services yet it's a bit hit and miss when you speak to them.

blitzboy

lynwill53 wrote: »

I have now used Tesco's Travel Money several times and it's all true. I posted about it recently but have forgotten the thread name. Durr!

grumbler wrote: »

Definitely you didn't - unless you have another alias(es). With just 5 posts count it's very easy to check.

Obviously not that easy as you haven't noticed that LynWill53's very latest post (before today's) was on that very subject.... :wall:

Original post from 24th May...

lynwill53 wrote: »

If you use your Tesco Credit Card to purchase travel money from Tesco there are NO fees/ charges of any kind. I have used Tesco in this way many times now and always used to pay for the currency as soon as it appeared on my account. But one month I was short of funds and left it to pay with the rest of my card balance on the due date, and found to my delight that it had NOT been treated as a cash advance and there was no interest charged!!
A fast and easy service with rates equal to Travelex. Highly recommended.

Not that it actually matters to this thread (so I don't know why you even 'checked' in the first place), but if you want to be that pedantic then at least get your facts right.

YorkshireBoy

mbge9pjb wrote: »

...is there anything to watch out for?

Whilst such Travel Money purchases are fee and interest free (other than Sterling TCs which carry a 1.25% fee), you can only purchase up to your 'advance' (cash) limit.

This may be as little as 30% of your credit limit (or 30% of your available credit limit if you already have a balance on the card?).

Other than that, if you're prepared to accept you'll lose a little on the rate then it's a good deal.

jackieblack

Unless they've changed it in the last few years, it only works if you order online.
If you buy 'over the counter' in-store you still get charges (or at least I did a few years ago)

YorkshireBoy

jackieblack wrote: »

Unless they've changed it in the last few years, it only works if you order online.
If you buy 'over the counter' in-store you still get charges (or at least I did a few years ago)

Doesn't seem to be the case now, from what I've just read on their website.

They even have a 1% discount (£5 off a £500 spend) in store only until 2nd July 2013.

jackieblack

YorkshireBoy wrote: »

Doesn't seem to be the case now, from what I've just read on their website.

They even have a 1% discount (£5 off a £500 spend) in store only until 2nd July 2013.

Thanks, I might have another look then - I've avoided using my Tesco CC to buy currency ever since because it all turned into a bit of a nightmare