Advice on Tesco card..

MrsBumbleer

My partner and I will be taking the children abroad next summer and have been looking at all of the options available to get us there and back as cheaply as possible (more spending money whilst there that way ).

Have seen that you can convert Tesco club points to air miles, and then the air miles into ferry miles which, as we're camping and taking a hoof load of stuff with us, is very inviting!!

We've been looking at the Tesco credit card and are considering applying for the 0% purchase one to do all of our shopping on and then pay off EVERY time its used (not monthly, every time so that it always resets to 0) to boost our points between now and next year and also taking advantage of their 'no cash withdrawal charge on foreign currency' if using them if it's good enough rates...

It all seems quite straight forward in theory but is there anything we should know/watch out for/consider or avoid before we sign on the electronic line???

bsharpizmo

If I'm understanding you correctly, you might have a problem.

Your likely to see payments you make that total more than your agreed credit limit within a month held for security checks.

So, say you have a limit of £1000, if you're wanting to spend £2000 in a month and you spend the £1000 then pay it off to "reset it to zero", the next spend and payment should go on your next statement. If you clear that, the payment is likely to be withheld from the remaining balance for about a week.

I think it's supposed to be to do with anti money laundering but a cynic might suggest that it's to limit abuse of the clubcard points system...

You might get a high enough limit where you don't need to do that anyway in fairness. Good luck!

zerog

MrsBumbleer wrote: »

pay off EVERY time its used (not monthly, every time so that it always resets to 0) to boost our points

Paying off every time you use the card will not boost your points.

iAMaLONDONER

zerog wrote: »

Paying off every time you use the card will not boost your points.

Surely it would if it made spending more- i.e you get more points for spending £1000 than £750 providing you don't actually go over your limit

SuperHan

iAMaLONDONER wrote: »

Surely it would if it made spending more- i.e you get more points for spending £1000 than £750 providing you don't actually go over your limit

It depends when points are awarded, is it on the balance at the statement date, or at the time of transaction?