Exclusive: Tesco Premium Credit Card launched this morning

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• Olivula says:

  3 Jun3 June 15:40

  1) Spend requirement too high
  2) Reward far too low
  3) insurance age limits too low compared to Nationwide.

  Won’t press any buttons for me

• Troll Basher says:

  3 Jun3 June 17:41

  “Every Little Helps…”

  Sorry Tesco, that’s just too little.

  I’ve noticed my Tesco spend has dropped markedly this year.

  I’m sure I’m not alone.

• Fenny says:

  3 Jun3 June 20:18

  I think I can live without this.

• DV says:

  3 Jun3 June 21:20

  The earning rate (1 point for every £4 outside Tesco) is uncompetitive with other cards and too low for the £150 fee. Giving 1 point on multiples of £4 (so 1 point for £7.99 spend) is exceptionally mean. The two month restriction on the CE voucher makes it almost unusable (a sleight of hand). A discount on ET or CE, valid for 12 months, which renewed each year would be competitive. The restrictions on the travel insurance are pretty shocking (they are hoping people do not read the small print). For example, you cannot claim for something that has anything to do with the illness of other people, who are not covered under this policy, which affects your trip, such as a travelling companion or business associate, even though you have no way of knowing and are certainly not entitled to know what their state of health is. The restrictions for pre-existing conditions for the claimant are even more severe: a claim arising indirectly from a medical condition that you last had 23 months ago and for which you were prescribed medication is not covered, even though there has been no recurrence and no further treatment; any claim arising indirectly from a respiratory condition for which you have ever received medication (that would include Tunes or Benylin as a child) is not covered.

• Mr Dee says:

  3 Jun3 June 21:59

  1. Awful earning rate for the annual fee 0.6 avios per £1 (0.25*2.4)
  2. £50 discount too limited and short timeframe
  3. Limited travel insurance barely worth anything especially as Nationwide will give you a much better offer with their flex accounts.
  4. No signup bonus

  I think this credit card will be so unpopular that barely anyone will apply and it will be completely overhauled or some mega signup bonus within 6-12 months or close completely.

• Ralph says:

  4 Jun4 June 06:13

  I already get a discount from tesco by using my Santander 123 credit card, so would have to spend even more to make it worthwhile.

  So, I’m out

• Robert says:

  4 Jun4 June 08:46

  It looks like the earning rate in tesco is 1 point/£ + normal clubcard points (compared to the old card which was normal clubcard points + 1point/£4 (then £8). So a £5k tesco spend would earn 5,000 base credit card points + 5,000 bonus credit card points, which makes the maths a bit more favourable:

  “Collect double the amount of Clubcard points on your shopping in Tesco. That’s because your credit card is also your Tesco Clubcard, so for every £1 you spend on your card, you’ll get your normal 1 Clubcard point plus an extra point on top”

  • Rob says:

    4 Jun4 June 08:57

    That’s true, but this is still a heavy Tesco spend target.

    • TGLoyalty says:

      4 Jun4 June 14:14

      Not if you fill up at tesco and do a bit of shopping and if gift cards count this would do me fine as I must have spent £2k on gift cards alone this year

      2.4 avios/2.5 flying club per £1 isn’t bad but need something else to make that £150 worth it, a joining bonus and exclusive tesco money off / bonus point deals maybe?

    • Callum says:

      4 Jun4 June 15:02

      That’s £95 a week. Any family who uses Tesco as their main supermarket should pretty easily meet that – even with no car. (Especially if you’re the type of family who would fly BA CE on holiday!)

      If you’re not a regular Tesco shopper it won’t be feasible, but it’s hardly a shock that Tesco is targeting Tesco customers!

      • Rob says:

        4 Jun4 June 17:34

        But who does that now? The ‘one trip a week to buy processed food that won’t go off’ model of my youth is dead. Today you may do one average shop and 3-4 top ups of fresh stuff, often at a different place.

• WillPS says:

  4 Jun4 June 15:20

  I wonder if there’s a reason that they’ve changed the wording from “Platinum” to “Premium” at the last minute?

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