Tesco Club card reducing reward value.

jeffkey1

Just got an email from Tesco that they are reducing the value of the Club card rewards.

"From 14 June**, when you exchange your Clubcard vouchers for a Reward Partner code, they’ll be worth up to 2x as much, not up to 3x the value, as they are now"

But note "You'll still get up to 3x the value until 13 June 2023".

So I would advise spend them now to maximise their value.

Jeff

Detail_Merchant

Here's a link to the Tesco page about the change - https://www.tesco.com/help/articles/16250187592089-Change-to-Tesco-Reward-Partner-scheme-from-14-June-2023

Perksy5

Just had the email  

tastyfish

Yes, just seen it. Will need to re-assess reward schemes, I currently also have a Tesco Clubcard credit card. May need to swap to cashback credit cards, etc and work out which offer best value. Quite annoying, seeing as they still get our data in return.

WillPS

Ah that's gutting. I'm on the legacy Tesco Premium Credit Card, paying £36. 1 (additional) pt per £ at Tesco, 1 pt per £4 elsewhere, + 2500 points on £2500 spend at Tesco.

It's been my default 'non-Amex' option and I've done very well out of it at 3x (0.75%, more like 0.68% in reality) but at 2x value I'm really looking at 0.5% value; less in reality when you factor in rounding and the cost paid in vouchers vs what you'd actually pay in cash. I'll move this spend to Barclaycard's free Avios card (which works out at 0.66% when converted to Nectar).

Trying to work out if it's still worth keeping it going for use at Tesco alone - spending £2500 exactly I get 2 points per £ (on top of the 1 every Clubcard holder gets), so in theory that'll be £100 worth of value, probably more like £90 in reality. Factor in the annual fee and it's £54, so I suppose the overall rate once all is said and done is a little over 2%.

Given that I can buy Tesco gift cards with a 4% discount from Perks at Work, I think it's time to say goodbye.

Ms_Chocaholic

If you exchange the vouchers how long do you then have to use them does anyone know?

WillPS

Ms_Chocaholic said:

If you exchange the vouchers how long do you then have to use them does anyone know?

It's on the link in Post 2 - normally it's 6 months but until the devaluation in June they'll be valid for 1 year.

SpeedSouth

Yeah just had the same... maybe time to switch cards.

prowla

Great news folks - we're reducing the value of your points so we can continue to give you great value!

I always struggle to find things to spend my rewards on anyway and my kitchen is full of Denby.

Tesco's excessive price increases have made it less attractive to shop there, so I think I'll be able to cope with the disappointment.

Peppa537

I’m not surprised this has happened, still disappointing though. Myself and my husband both use clubcard vouchers towards our Cineworld Unlimited cards, probably our main reason for still shopping at Tesco really. It’s worth our while paying Cineworld in full for the amount of films we see (I can get a blue light discount for mine anyway which although not as good as using Clubcard still saves me around £30 over a years membership). I have been going to Aldi once a month to stock up on certain products, prices have gone up everywhere but some of the differences in prices of standard items between Aldi and Tesco are ridiculous. It’s just that sometimes the quality in Aldi can be ok or even better and other times not so great. I tend to shop around more full stop, tinned goods from B&M, some things even from M&S as their quiches are far superior to Tesco, are on a 3 for £8 permanent deal and can be frozen. This works out a bit more than Tesco but I feel I’m getting vfm. It will be interesting to see if this new Clubcard rewards value makes any difference to them at all, maybe not as x2 is still better than them dropping it completely. I doubt we’ll see their food prices go down because of it though.

WillPS

https://forums.moneysavingexpert.com/discussion/comment/79928261

Not sure why this thread was closed?