Help please....!! Cashback or clubcard points??

KazLA

Hope someone can help, I've been looking into changing my credit card for a while, but haven't done anything about it as I can't figure out how to work out what my best option is...

At the moment I have a Tesco Platinum credit card which gives me clubcard points when I spend... I need to work out if I would be better off getting a cashback card...

With the clubcard points, every £2.50 is worth £10 in deals, so I would need to earn £10 cashback for the same amount to make it worth switching...

Just don't know how to work out how much I need to spend on the Tesco card to get £2.50 worth of points and how much I would need to spend on a cashback card to get £10 cashback.

Does that make sense... I'm sure there is a pretty straight forward way of sorting this out...

HEEELLLLPPPP!!!!

Thanks!!

Lavendyr

It depends on which cashback card you use. If you use Amex Platinum in the first three months at 5%, you would need to spend £200 to get £10. If you use Egg Money at 1%, by comparison, you would need to spend £1000 to get £10. I don't know how many points per £1 you get for the Tesco Clubcard spending but I'm sure you can work that one out.

But bear in mind you can use that cashback anywhere you like, whereas Tesco clubcard points are only worth it if you are actually going to use the deals (and if you would have bought those things anyway - rather than buying something unusually because of the deals).

KazLA

In addition to the above, a further option would be to use a 0% credit card and put the money in a savings account, I have an ICICI one? Would that work out any better???