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Tesco drops the Tesco Premium Credit Card

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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  The Tesco Premium Credit Card is being withdrawn from the market for new applicants.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? – May 2023 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

SPECIAL OFFER: Until 30th May, the sign-up bonus on the Barclaycard Avios Plus Mastercard is doubled to a crazy 50,000 Avios! Apply here.

SPECIAL OFFER: Until 30th May, the sign-up bonus on the free Barclaycard Avios Mastercard is doubled to 10,000 Avios. Apply here.

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

CRAZY 50,000 Avios for signing up (to 30th May) and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

10,000 Avios for signing up (only to 30th May) and an upgrade voucher at £20,000 Read our full review

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

SPECIAL OFFER: Until 13th June, the sign-up bonus on The Platinum Card is doubled to 60,000 Membership Rewards points – and you get £200 to spend at Amex Travel too! Apply here.

SPECIAL OFFER: Until 13th June, the sign-up bonus on the Virgin Atlantic Reward+ card is doubled to 30,000 Virgin Points. Apply here.

British Airways American Express Premium Plus

25,000 Avios and the famous annual 2-4-1 voucher Read our full review

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review

The Platinum Card from American Express

60,000 points AND a £200 Amex Travel voucher until 13th June! Read our full review

Virgin Atlantic Reward+ Mastercard

30,000 points bonus (to 13th June) and 1.5 points for every £1 you spend 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 Platinum

40,000 points bonus and a £200 Amex Travel credit every year Read our full review

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

Capital On Tap Business Rewards Visa

Get a 10,000 points bonus plus an extra 500 points for our readers Read our full review

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.

Barclaycard Select Cashback credit card

1% cashback and no annual fee Read our full review

Comments (154)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Ian says:

    There won’t be many points earning cards left at all soon.

    Is there any news short and long term on the future of the SPG Amex? Will it be renamed at the end of the year to match the new Marriott Rewards program? As it’s a co-brand card it’s hit by the 0.3% interchange fee cap, so surely it’s days are numbered in it’s current format and decent earning rate?

    • shd says:

      I contacted Amex earlier this week to cancel my SPG Amex and they were very keen to get me to talk to their retention team, was on the move so haven’t yet called.

      Any thoughts on what they might offer me / what I could or should ask for?

      • Genghis says:

        Double SPG points for 3 months most likely

        • shd says:


          However in that case I’m not going to bother calling, better to close now and hope for another application before the end of the year, if the card survives that long 🙂

        • RussellH says:

          That is what I got at the beginning of the year.
          I said then that I thoght it augured well for the future of the card.

      • Hsergio10 says:

        I got 2K points for my retention offer on SPG.

      • Alex W says:

        I cancelled SPG via chat recently, didn’t get offered anything!

  • Taza says:

    I’ve had my miles and more card for only a year and will probably have to quickly use the 28k points I’ve managed to save.

    Is it possible to convert miles and more points into anything else?

    • meta says:

      Remember you can also top up from Heathrow Rewards or SPG (and indirectly from MR via SPG). If you can get up to 40k that’s one way business to Middle East.

      • Rob says:

        You only need 25k Singapore miles for a one way business class to the Middle East though!

        • Lumma says:

          Really? I might have a new plan for my sign-up bonus for the gold AMEX 🙂

        • shd says:

          SQ/Krisflyer sees limited availability for redemptions on LH Group compared with LH M&M

      • Bagoly says:

        And you can earn those HR points from Rocketmiles.

    • shd says:

      My OH let over 40k M&M miles expire earlier this year…

  • riku2 says:

    LH explain on their site about the expiry when you lose status.

    How long will my miles remain valid if I lose my Frequent Traveller, Senator or HON Circle Member status?
    For as long as you have a given status, irrespective of which one, your miles will not be subject to mileage expiration. Mileage expiration is only reactivated when Frequent Traveller status is lost. From that point onwards they are valid for 36 months and then expire at the end of the quarter.

    An example: your Frequent Traveller status expires on 1 March 2019. If your status is not renewed or a new status achieved, your miles will then be valid for a further 36 months – until 1 March 2022. They will expire at the end of the next quarter, i.e. on 31 March 2022.

  • Dennis says:

    Very OT: I’ve made 25 one night stays at Hilton hotels this year (all paid, no reward stays). My Honors account shows 25 “stays” and 19 “nights”. Why do I have 6 fewer nights than stays? Shouldn’t they be equal?

    • TripRep says:

      Sounds weird, what did Honors customer service say about it?

    • John says:

      Reward stays count too – but yes you need to call them and ask

      Something dodgy is going on with Hilton’s IT these days (though this has always been the case)

    • sunguy says:

      I may be completely wrong – so suggest a pinch of salt with this….but….

      I seem to remember “something” about consecutive nights being counted as a stay but not a night…(or maybe it was other way round)…..and being surprised how it was made up….I need to look that up sometime!

      • Rob says:

        No, it’s the other way round, which is why stays should always be the same or lower than nights.

  • Roger says:

    Any further news on Marriott card launching in August?

    • Rob says:

      Not yet. No indication it will be different to the old card which, whilst it was uncompetitive, would now be ok in the current market 🙂 No fee, Silver status for life, 1 point per £1, 2000 free anniversary bonus points.

      • Ian says:

        Are we likely to see both that and the SPG Amex remain though? I pray the SPG card sticks with its current earning rate for a long time to come

        • Rob says:

          Logically, though, why keep it? From August you basically have the free Marriott Mastercard at 1 point per £1 and the SPG Amex (£75 fee) at 3 points per £1. The snag is that both are interchange-fee capped.

          The free card will, if it stays as it was, also offer you 10 nights towards elite status and a 2000 point annual retention bonus. The SPG Amex will only be attractive to high spenders but the higher the spend, the more money Amex will lose.

        • shd says:

          I’d bet the SPG Amex will be gone within 12 months. It’s unsustainable.

          Pity, I like it so much I’ve had 3 of them 😉

        • RussellH says:

          But why, if the SPG Amex is unsustainable, have Amex been making special offers to those of us who phone to cancel? The double points offer that I and others have received is effectively 6 Marriott points / 3p refund per £1 spent. Plus another 1 SPG / 3 Marriott if you stay at Starwood.

          Are Amex trying to improve their negotiating position with Marriott, perhaps??

      • ankomonkey says:

        I hope Creation offer something similar to the two IHG cards, with Marriott ‘new’ Platinum on the £99-fee card.

  • Jonathan says:

    Got MBNA Lufthansa and Virgin Atlantic Black cards. Will I end up having two Horizon Visa cards?

    • Alan says:

      Yep. I had 3 letters (AA, VS Black, VS White). All with different retention offers. Got them to move the credit on White, which I’d already closed beforehand, over to Black – although did have to escalate to a formal complaint to manage this!

  • Rob says:

    Can someone remind me of the business model of the consumer version of the Curve i.e. how do they make money from it? Other than the 1% FX fee income, do they take an interchange fee as well as the underlying card the transaction is eventually charged to?

    • the real harry1 says:

      You can google their business strategy but it would seem Curve is in the early stages of recruiting critical mass in users, with more profitable developments to come, eg

      ‘The ability to “go back in time” and retroactively change the source of payment could in the future present an opportunity to recommend a different credit provider.

      For example, should Curve spot that you have just purchased a high-priced item, such as a new television, and stuck it on your credit card, it could offer an alternative “pre-approved” loan with lower interest in partnership with a bank or other credit source and switch the charge accordingly.

      That would tie in nicely with an upcoming Curve feature the company is calling “Curve Connect” that will see the app begin to connect to other fintech or digital financial services, thus providing the makings of the fintech convergence strategy Curve’s roadmap has always been built on. Longer-term, the startup wants to be the platform where you manage all things money, essentially re-bundling financial services in a way that puts you in control, give or take a partnership here and there.’

    • Axel says:

      For the business version the connection to XERO is a game changer for me. Xero is the goto SME accounts package much as Sage was 15 years ago.

  • the real harry1 says:

    4600 jobs to go at Rolls Royce (most in Derby) – apparently all mgt & corporate support function. I’m sure there won’t be any impact on timeline for correcting the Trent 1000s…

    • LB says:

      Will this affect the delivery of my new Rolls Royce Wraith. I was hoping to pay the balance on my Tesco card 😉

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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