Worth paying 2% fee on Tesco Mastercard to get the points?

bsms1147

MerlinMags wrote: »

Buying food (1 point per £1) and petrol at Tescos (1 point per £2) must raise the equivalent percentage above the 1% rate you refer to?

Are these not just clubcard points though from the bog standard clubcard?

So you could pay with your credit card (ie, Amazon CC), get 1% cashback from that credit card, and still gain the clubcard points when they scan your clubcard.

You earn twice from the same purchase, equivalent to 2% cashback - 1% on the CC, 1% on the clubcard (1 point per £1 spent).

If you then boost the clubcard points that 1% on the clubcard becomes 4% (1 point becomes 4 points), so giving en effective rate of 5% cashback overall.

grumbler

bsms1147 wrote: »

Are these not just clubcard points though from the bog standard clubcard?

Absolutely.

http://www.tesco.com/clubcard/collect-points/

Tesco credit card gives just 1point/£4 on the top.

http://www.tescobank.com/creditcards/?atlassource=paid&cmpid=search/google/brand&gclid=CJDr5c3I_74CFVMRtAodgBgAeQ

This points system is designed to confuse customers so that they overestimate the real value of the points. They seem to have succeed in this.

MerlinMags

bsms1147 wrote: »

So you could pay with your credit card (ie, Amazon CC), get 1% cashback from that credit card, and still gain the clubcard points when they scan your clubcard.

Aha! I see that now, thanks. So it ends up paying the same, regardless of which credit card I use. But, because the Tesco Rewards deals have higher prices, spending the equivalent sum at Amazon would benefit me more. I don't think this was true back when Tesco Mastercard gave out four times as many points (boo hoo).

The obvious question is now: Do any other credit cards give more than 1% cashback?! And to answer that I will read http://www.moneysavingexpert.com/credit-cards/cashback-credit-cards

P.S. No-one has answered my original (extra) question about whether it's worth paying the 2% fee in order to get protection for your purchase from the credit card company...

grumbler

To get the full s75 protection you don't have to pay the full amount. I usually pay ~£100, but you can pay even smaller amount by a CC and the balance by a debit card.

ic

Just use a cashback card instead and get cash to spend anywhere. With my cards that offer 1% its very easy to figure out whether its worth my time using the card or not. However, when ordering something big like flights I do like the extra insurances that comes with the card (which presently doesn't just stop at S75).

grumbler

ic wrote: »

... I do like the extra insurances that comes with the card (which presently doesn't just stop at S75).

What do you mean? I think it does stop, unless the card offers some perks like, say, free travel accident insurance - that is uncommon nowadays.