The new Premium Credit Card – our most rewarding card yet
3 June 2016 By Donald MacLeod
For almost 20 years, we’ve helped customers manage their money by offering a range of competitive credit card offers, and today we’ve added a new one – the Premium Credit Card.
The new card, which is a first of its kind from Tesco Bank, is the fastest way for Tesco customers to collect Clubcard points when they shop and acts as a combined credit card and Tesco Clubcard. It is designed to give even more back to customers who do their weekly shop at Tesco and fill up their car at one of Tesco’s petrol stations.
For every £1 spent in Tesco, customers receive one Clubcard point, in addition to the one point for every £1 collected with a standard Tesco Clubcard. This means customers can collect Clubcard points twice as fast with most purchases. Additionally, when customers spend on the Premium Credit Card outside of Tesco, they earn one Clubcard point for every £4 spent. Customers will also receive 5,000 bonus Clubcard points when they spend over £5,000 on the Premium Credit Card in Tesco in any year, and they can also increase the value of their Clubcard vouchers by up to four times to spend with Tesco Clubcard Partners.
The card also helps customers save money on travel by including family multi-trip worldwide Tesco Travel Insurance and a preferential Tesco Travel Money exchange rate in one of our 275 in-store travel money bureaux. Furthermore, as a thank you, when customers receive their card, they will also receive a promotional code which can be used to book a BA Club Europe return flight (from selected airports) for up to nine people, with each passenger getting £50 off the price of the flight (promotional codes are subject to availability). Customers can also convert their Clubcard vouchers into Avios and Virgin Atlantic Flying Club miles to help bring down the cost of their holiday.
We are delighted that this new card which contains such a rich package of Tesco Clubcard and travel benefits is now available to customers. In exchange for these benefits, the card has an annual fee of £150 which is charged after the first transaction is made on the card. To help our customers decide if this card is right for them, we’ve included some FAQs and a Clubcard points calculator on our website.
We’ve also included a table below to show how customers can collect Clubcard points from spending on the Premium Credit Card:
|Clubcard points collected with the Tesco Premium Credit Card|
|Tesco Stores £60 spend per week*||120 points|
|Tesco Fuel (excluding Esso) £40 spend per week||80 points|
|Outside Tesco £100 spend per week||25 points|
|Plus 5,000 bonus points for spending £5,000 in Tesco in any year**||5,000 points|
|Total points earned in a year||16,700 points|
The value of the Tesco Clubcard vouchers when boosted to four times their value is £668
*Points exclusions apply to certain products at Tesco.
**Qualifying spend applies – see terms and conditions at http://www.tescobank.com
Representative example: 56.5%APR representative (variable) based on a credit limit of £1,200. Purchase rate 19.9%p.a. (variable). Annual fee £150. Your credit limit may vary depending on your circumstances. The Tesco Premium Credit Card is available to over 18s and UK residents only. Subject to status. Both new and existing Tesco Bank credit card customers can apply. Tesco Bank, PO Box 27028, Glasgow, G2 9FT.
Tesco Bank Premium Travel Insurance is provided by Ageas Insurance Limited.
Tesco Travel Money ordered in store is provided by Travelex Agency Services Limited.
The Clubcard points calculator and full terms and conditions of the Premium Credit Card rewards can be found here: http://www.tescobank.com/credit-cards/premium/
Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No. 173199. Registered Address: Interpoint Building, 22 Haymarket Yards, Edinburgh, EH12 5BH. www.tescobank.com