How to earn Clubcard points and Avios from a Tesco mortgage

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• Danny says:

  24 Aug24 August 08:10

  I wondered about their current account and debit card… I send circa 3k to the tax man each month and 3k VAT each quarter. .. 48k in total… meaning 5’100 clubcard a year via HMRC billpay.. other peoples thoughts?

  • Rob says:

    24 Aug24 August 08:39

    Finance transactions are blocked from earning points. Take a look at my post and the comments on the current account. Which is a shame, I agree!

• Max says:

  24 Aug24 August 08:35

  No matter how good the deal I could not bring myself to get my mortgage from Tesco. The idea just doesn’t sit well with me.

  • Erico1875 says:

    24 Aug24 August 09:25

    If a low rate and club card points dont sit too well with you , I can thoroughly recommend 4.79% variable and poor service from Santander as an alternative.

    • Max says:

      24 Aug24 August 21:09

      Thanks but i shall stick with my current provider!

• Charlie says:

  24 Aug24 August 09:24

  I took one out but of course not for the clubcard points, but because they had the cheapest combination of initial rate and initial fees. I also had a HSBC mortgage for many years and that set the benchmark for me. It was a lot more effort with the Tesco one, for example I had to telephone to chase things like mortgage offer letters not being received (partly my fault because I needed another copy, then rates were lowered so I obviously asked to move to the lower rate, etc). My clubcard points didn’t always get posted but like everything else they do sort it in the end after chasing.

• Craig says:

  24 Aug24 August 10:09

  How about taking out a mortgage you don’t really need, then repaying it in a few overpayments (that don’t quite take it down to zero)? Or over-sizing the mortgage even though you might have a lot of equity coming from a prior home…

  On a 200k mortgage, that would be 50k clubcard points or 120k avios… For the cost of whatever fees are charged up front.

  • Rob says:

    24 Aug24 August 11:24

    Nice idea but I can’t see many takers! That said, anyone moving should pay down to £1 to get the points on the overpayment.

  • RIccati says:

    24 Aug24 August 13:14

    1.2M Avios, not 120k?

    • N says:

      24 Aug24 August 13:56

      120k by my calculations. Except you’d hit the 30k Clubcard point limit if done in one quarter

      • RIccati says:

        25 Aug25 August 01:08

        Indeed 50000/250*600 = just 120k Avios

        Unimpressive as it takes months to process a mortgage and having one opened mortgage account (even with a minor balance) is likely be a major hurdle in getting ‘a real’ second mortgage account.

• Mark2 says:

  25 Aug25 August 09:58

  I am amazed to see that Tesco are lending money at 1.5% when they are borrowing from us at 2.05% (but no Club Card points).

  • RIccati says:

    25 Aug25 August 13:57

    No doubt the high arrangement and service fees compensate for the extra low rate given for initial few years. On average across mortgages, it must be profitable.

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