New 1,000 Clubcard points sign-up bonus on Tesco MasterCard (plus 1,000 points refer-a-friend bonus)

Love Clubcard, don’t collect Avios?  You should be reading our sister site, Shopper Points (www.shopperpoints.co.uk), which covers the latest Clubcard and Nectar offers without any distracting frequent flyer talk!  Why not check it out now?

For the first time this year, Tesco Bank is offering a sign-up bonus on the Tesco Clubcard MasterCard.

See here for details.

This link was sent to a select number of people by Tesco – this offer does not appear on the main Tesco MasterCard website.  I am confident that anyone who applies via the link above WILL receive the 1,000 points, whether or not they were targetted.

The card has a representative APR of 18.9% variable.

Tesco credit card

If you apply for the card by 8th June via the link above, you will receive a bonus of 1,000 Clubcard points when you make your first purchase within two months of receipt.  This is worth 2,400 Avios or 2,500 Virgin miles.

You also pay 0% interest on all purchases and balance transfers for 12 months, which effectively means that you can just make the minimum repayment and keep your money earning interest in the bank instead.  The fee for balance transfers is a very low 0.85%.

Based on previous experience, this offer should also work with the 1,000 points ‘refer a friend’ bonus. Once you have received your Tesco credit card (yes, AFTER you have received it!) email me at raffles [at] headforpoints.co.uk and I will send you a refer-a-friend form. Post this back to Tesco and you will get a further 1,000 Clubcard points. I also receive 1,000 points for referring you.

The Tesco MasterCard is, for 99% of people, the best way to collect Avios from a MasterCard or Visa. You earn 1 Clubcard point for every £4 spent – this is calculated on a ‘per transaction’ basis, unfortunately, which is a bit of a swizz and means that your actual earning will be lower than this. However, theoretically you will be getting 0.6 Avios per £1 spent.

(The HSBC Premier MasterCard, reviewed later this week, is better than this, at 1 Avios per £1. However, the card has very restrictive criteria for potential applicants.)

I explore the Tesco credit card in full in my review here.  This is the old 2013 review – I will be writing an updated version in the next few weeks when the ‘Credit Card Reviews’ series cycles around to ‘T’!

Love Clubcard, don’t collect Avios?  You should be reading our sister site, Shopper Points (www.shopperpoints.co.uk), which covers the latest Clubcard and Nectar offers without any distracting frequent flyer talk!  Why not check it out now?

(Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history.)

Credit & Charge Card Reviews (11): HSBC Premier MasterCard
Getting the cheapest price and maximum rewards for train travel (part 1, 2014 edition)
About Head for Points

We help business and leisure travellers maximise their Avios, frequent flyer miles and hotel loyalty points. Visit every day for three new articles or sign up for our FREE emails via this page or the box to your right.

Comments

  1. James67 says:

    IME applicants will get the 1000 points for sign up or the 1000 for being referred. When I chased up my missing 1000 points I was told twice I could’t have both. While there is nothing in t&c to this effect I was to busy at time to take it further. I will be cancelling card shortly so may offer to keep it in return fot my missing points.

    • It may have been a mistake on their part but for me both the 1000 for taking it out and the 1000 for the referral (thanks Rob!) worked fine for me. When I cancelled they said there was a 6 month waiting period before taking it out again, so I’ll have to miss this one!

  2. I might be missing the point, but why is per transaction a swizz?

    • Because if you spend £3.99 twice you get 1 clubcard point x2. However on the HSBC MasterCard you get £7.98 towards Avios points.
      I have the old tesco card which gives 1 pt per £2 spend. If I spend 3.99 I use the HSBC card, as it is cumulative spend over the statement period, if it’s £4 I’d use the tesco card as it gives 4.8 Avios, when converted.( that’s the old card).

      • Andrew (@andrewseftel) says:

        if you spend £3.99 twice on this card you get nothing whatsoever!

      • The current tesco MasterCard only gives 1 point per £4 minimum spent equals 2.4 avios, but nil points up to £3.99. Each transaction is individually totted up, not great. They could be more generous, and give one per £. Better if combined with an amex, if you have one, to pay and then use the m c as club card , you can up your avios.

        • If you use the tesco credit card (which pays 1 point/£2 spent), in tesco, is it still 5pts/£4 spent in store?

  3. Ahhh. Thanks for explaining! :p

  4. Maximus says:

    I have never taken up the offer of a 0% credit transfer from one card to another before, as I pay each card off monthly.

    But I was thinking after reading the Tesco Bank site…

    If you did transfer from another card to the Tesco card in order to partake of the 0% credit transfer offer, are you then obliged to close the credit card account you have transferred the debt from?

    Can you transfer debts from Amex debit cards, or just credit cards?

    And do the banks, whom you have transferred the debt from, take exception to this move? Do they ever take any action e.g. closing the account, reducing credit limits etc?

    • Andrew (@andrewseftel) says:

      You are not obliged to close the account. The outstanding balance is just paid in full by Tesco. Just credit cards (nothing to stop you trying with a debit card, but it shouldn’t work). Your original issuer is within their rights to take the sort of action you suggested, but I’ve not heard anything to suggest that it would be typical of any issuer. They are more likely to close account or reduce limit if you don’t use the card after it has been paid off.

  5. Maximus says:

    I note the link above states the transfer fee is 0.85% but the elsewhere on the Tesco Bank website it states it is 0.65%. Not that this will make much of a difference, but clearly I am in a pedantic frame of mind this Easter Monday!

  6. Froggitt says:

    Slightly OT but I cant post in the 3V thread. Tesco till spits currently giving £5 of £40 spend, so of you can get hold of any, its an ever bigger no brainer.

    • I’ve not seen any 3vs for a while now, which is a real pity as I’ve got a genuine reason to use them! For our wedding, we need approximately 200 items that sell at exactly £25 each…. and I won’t let my girlfriend order them with anything other than 3v cards. The problem is, the supply ran out about a month ago and I can’t find any now.

      • squills says:

        Try further afield? Swimming in them down here 😉

      • What's the Point says:

        Who says romance is dead!
        What x 200 do you need for exactly £25 each?
        I wish I had earned some Avios for my wedding…..

      • Loads of them up here in Edinburgh 😉 Sadly given the NS&I cashout has been closed along with many other websites that previously accepted them I’m not bothering to buy them.

  7. squills says:

    I see Tesco are launching a current a/c with ‘rewards’ (undefined). Register for advance info here tescobank.com/currentaccount

    reads:

    First we asked Tesco customers like you what matters in a current account. Then we built one based on what you told us.

    You told us you like to be rewarded for your loyalty

    The Tesco Bank Current Account will give you something back – every single day you bank with us.

    You want great value, every day

    No frills or gimmicks. Just good, honest value from your current account, day after day.

    Simple and convenient ways to bank

    Life’s too busy to stop for your current account. We’re here at the touch of a screen or the click of a mouse.

    You like real people on the end of a phone

    If you ever need any help or information with your current account our friendly team is right here in the UK – 24 hours a day, 365 days a year.

    Plus it’s easy to switch

    The new Current Account Switch Service makes it simple to move from your existing bank. Once your debit card is up and running, switching takes just seven working days.

    Register to find out more

    • Unless it’s anything like Santander 123, I can’t see much interest. I used to have a Tesco savings account until they cut the interest rates so low they’d have trouble tripping up an ant.

  8. thesaver79 says:

    I applied for a card a month ago. I wish I had waited :-(

    I haven’t received the card yet though. Apparently it’s got lost in the post.

  9. squills says:

    Would (say) 5000 CC points when you sign up for a current a/c & switch [some] direct debits tempt you?

    It would me. I’m sure I could find a way to have a spare current a/c with a direct debit associated with it, all ready to close 😉

    No doubt the wife could do likewise lol

    • It depends whether there’s a monthly deposit requirement. I already have 2 current accounts. Any more will need (yet another) spreadsheet to keep track of what goes where, even if all I do is move the money between them.