A couple of weeks ago, I wrote this article about the Tesco Premium Credit Card.
I suggested that the card did not have much of a future given the closure of Tesco Direct in three weeks, because the main feature – 5000 bonus Clubcard points if you spent £5000 annually across all Tesco businesses – would now become trickier. I know some people relied on putting large household purchases through Tesco Direct in order to hit the £5000 target.
It seems that Tesco Bank agreed with me. The Tesco Premium Credit Card is being withdrawn from the market for new applicants. I don’t know if it is being closed to existing cardholders too.
If you were on the fence about applying, the application form might still be live if you click here. There is a 5,000 Clubcard points bonus (worth 12,400 Avios or 12,500 Virgin miles) for signing up. I have been told that it will be gone by the end of today, if it hasn’t gone already.
Whilst this was definitely a niche product – and one I struggled to get excited about – it does have potential. It may have suffered from poor marketing, because the free travel insurance benefit would have been valuable for a lot of mainstream card users who will not have Amex Platinum, HSBC Premier etc. At a lower fee (say £50) or with a different benefits package, it may have worked well for a lot of HFP readers as a strong points earner.
I have updated our core ‘best credit card’ articles, all of which are listed on this page of HfP, to reflect this change.
Want to earn more points from credit cards? – June 2021 update
If you are looking to apply for a new credit or charge card, here are our June 2021 recommendations based on the current sign-up bonus.
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the other top current deals:
British Airways American Express
5,000 Avios for signing up, no annual fee and a companion voucher for spending £20,000 Read our full review
British Airways American Express Premium Plus
25,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review
The Platinum Card from American Express
30,000 points and an unbeatable set of travel benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
15,000 points bonus and the most generous non-Amex for day to day spending Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers.
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
American Express Business Platinum
40,000 points sign-up bonus and a long list of travel benefits Read our full review
British Airways Accelerating Business American Express
Earn both Avios and BA On Business points with your business spending Read our full review
Capital On Tap Business Rewards Visa
The most generous Avios Visa or Mastercard for a limited company Read our full review