NEW Tesco Current Account - 3% on £3,000

The_Corrupt_Banker

zerog wrote: »

Maybe I'm missing something but why is nobody excited about earning points on debit card spend?

OK, the earning rate is not that great but what do you expect? I will be using this debit card to pay off my Amex (and other credit card) bills

You'll be wasting your time then I'm afraid.


From http://www.tescobank.com/current-accounts/rewards.html

You can't collect Clubcard points on some transactions, including payments from your current account (such as standing orders and Direct Debits), in-store cash or cheque deposits, refunds and using your debit card to pay for bills at banks or other financial institutions.

socrates

arthur2 wrote: »

Application process falls over. I tried but it doesn't like the fact I was born in 1952 - keeps saying "This field is required" even though it is clearly present.

Maybe TSB will be easier, AND I understand they don't make one wait for paperwork before actually opening the account.

Did you auto fill?

After you enter the dates go to the drop down column and reenter and it should be ok

Fruit_and_Nut_Case

arthur2 wrote: »

Maybe TSB will be easier...

In my opinion you should open your full quota of TSB accounts before opening any with Tesco, assuming you're mainly after the interest.

PeacefulWaters

zerog wrote: »

Maybe I'm missing something but why is nobody excited about earning points on debit card spend?

OK, the earning rate is not that great but what do you expect? I will be using this debit card to pay off my Amex (and other credit card) bills, and to buy a car in the next few months as well as at any other merchant who charges a credit card fee, such as certain travel agents.

This may be why Tesco savings doesn't accept deposits by debit card any more... I believe NS&I still does.

I can see a use when buying a car (every four or five years) or a holiday (one or twice a year) when the selling firm charge a fee for credit card payment, but I'll use a cash back credit card for other purchases.

At an average of £3k a year it will give me £3.75 in Clubcard points. I could convert that to 900 Avios which would get me 20% of the way to Prague. I am struggling to get excited!

The exclusion of financial payments is predictable. I assume that means bookmakers and HMRC too.

Oh, and debit card payments of £7.99 or less earn nothing. They don't call two separate £4 transactions a point earner.

Fine account for the interest, after you've done TSB, Lloyds and a Nationwide. But I'm not exactly feeling the love for it overall.

innovate

PeacefulWaters wrote: »

Fine account for the interest, after you've done TSB, Lloyds and a Nationwide. But I'm not exactly feeling the love for it overall.

It's a tad better than a single Lloyds Vantage, so there's a home for some of the Vantage money for those of us who have them, and have maxed the accounts at other banks.

My Tesco debit cards will be living in my safe because the points potential is utterly insignificant. I get a lot more cashback on my Santander and Barclaycard credit cards.

arthur2

socrates wrote: »

Did you auto fill?

After you enter the dates go to the drop down column and reenter and it should be ok

Yes, I discovered this last night but forgot to re-post about it. However I only got two screens further before it said there was a system error code 042. I went to bed.

This morning I phoned, and wasted about 15 minutes whilst somebody tried to sort out the problem. Apparently it is because I used to have an Internet Savings a/c - closed about 2 years ago. They apparently can only now open a current account by phone because of this system error.

I told them to forget it. I will use TSB - worked first attempt.

bsms1147

The points are near enough worthless and anyone serious about cashback should be using a credit card.

iAMaLONDONER

bsms1147 wrote: »

The points are near enough worthless and anyone serious about cashback should be using a credit card.

I guess it's of some use if you shop in Lidl and Aldi in England.

Also you could get cashback on paying the bill for your cashback credit card lol!

iAMaLONDONER

innovate wrote: »

It's a tad better than a single Lloyds Vantage, so there's a home for some of the Vantage money for those of us who have them, and have maxed the accounts at other banks.

My Tesco debit cards will be living in my safe because the points potential is utterly insignificant. I get a lot more cashback on my Santander and Barclaycard credit cards.

Use it to pay of your CCs and earn cashback that way lol!

bsms1147

iAMaLONDONER wrote: »

Also you could get cashback on paying the bill for your cashback credit card lol!

'Fraid not.