Changes to Tesco Clubcard Credit Card.
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I got ~£3,500 for 0% Fee, on a 0% Balance Transfer deal.
There is £3,000 sitting in the Tesco account, earning 3%.
That's £90 before tax, how many points is that worth?
I bet you didn't get that 10+ years ago! Until this week, no one has ever been offered any repeat 0% deals on Tesco Clubcards so the only use for them was accumulation of club card points to exchange for deals. You've obviously applied for a new card very recently.
7.5k here sat in 5% pre-tax accounts. To memory I think thats just under £300 net pa. The £70 or so in clubcard points was certainly a bonus (I dont shop at tescos) that aids the stooze figures but the 0% period was more important for me.
The really long 0% BT period is actually a pain, as you end up with no balance to transfer after three years.
I have ~£20k in play, mainly earning 3%.
Sadly, the game is possibly up, as Virgin said no to me on the 40 month 0% BT deal. Despite a perfect repayment history, they must think owing £20k on credit card is a BAD thing.
I am trying to work out whether I would be better off using my Amex Platinum or if my Tesco credit card would still be best.
It looks like it's only out of Tesco store spending is affected by the change:
You can collect one point in addition to your normal Clubcard points for each £4 you spend in a purchase transaction in Tesco (the minimum purchase is £4)
You can collect one point for every £8 you spend in a purchase transaction outside Tesco (the minimum purchase is £8)
"Amex says it has no plans to change its range, although unlike other card providers, for the first three years, the EU's cap will not apply to Amex or Diners Club issued cards. If however it's issued by another bank but with either of those logos, then those cards are hit by the cap. So a Barclaycard with an Amex symbol is affected."
This is incorrect. If an Amex / Diners card is issued by another bank the cap will not apply in the first three years. If the card is issued by Amex / Diners themselves then the cap does not apply at all.
That's not to say it won't have a knock-on affect though, should they be forced to reduce fees to compete, or feel that they no longer have to offer the same level of rewards as they do currently.
I'm gradually moving all my spending away from Tesco's.
Lidl is saving me a fortune. Fuelsave gone. No free bags and poor cashback now on the card.
Time to get a new card!
I too miss the amazon one.
What to do? Which one do I change to now? I only got the Tesco Credit Card because on average I spend about £1K a month and I always paid in full and it was nice to get the Tesco clubcard points.
I've tried having a little look around and all these APR rates and cashback things have given me a headache.
Do I just use my bank card from now or are there any fabulous-tastic credit cards out there?
I have an old Tesco finest platinum card.