Tesco Clubcard credit card - warning payment date

Victors_Bruvver

I have always tried to play the credit card companies to my own benefit but I also occasionally find that some are a little cleverer than I am. I have just found out to my cost that Tesco Clubcard credit card is one of those that are “fine-tuning” the payment conditions so that, in my opinion, they still have an advantage over us and consequently get a little more revenue into their coffers.

I cannot blame them of course, but I thought a word of warning to the wise that any Direct Debit payments you set up with this particular Tesco card will be taken out of your bank account some four to five days BEFORE the due date and you will end up like me, overdrawn because I did not place enough funds into my current account. Incidentally, I initially thought that there was nothing unusual with them taking the payment a little earlier, but I checked out some of my other direct debit agreements with the likes of EDF or Barclaycard etc and they say “The appropriate amount will be collected by DD either on the due date or immediately after”. So it is probably Tesco & RBS who administer the card getting a little revenue back to make up for all those canny MSE savers!