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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  The Tesco Premium Credit Card is being withdrawn from the market for new applicants.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.

  • Rob says:

    You must spent more than my six figure sum them to be offered £15 🙂

    • Alan says:

      They must have decided you’d cost them enough already 😀 Although weirdly I’ve spent oodles on my AA and they’re offering me £55 to keep it!

      • Michael Jennings says:

        The only applicable card for me is a Virgin White. I spent about £5000 on it over the last 12 months. No free money for me.

  • shd says:

    In Germany both Miles & More cards have an annual fee. The blue card has a welcome bonus of …wait for it … 500 M&M miles!

  • TAY says:

    OT: Does Amex do a new credit search when upgrading from Amex Gold Charge to Platinum? Also, when the upgrade is completed, does it show up as a new card in the credit report or just continue as an Amex Charge card?

    • Lister says:

      My experience from upgrading in January.

      Hard search

      Continuation of the current charge card agreement. No new account opened on credit file.

  • meta says:

    Though some of the Amex ones are closing, though at the end of 2019 when the current contracts run out.

  • Neil Donoghue says:

    Does anyone have the gold companion link please and does it work on the Amex plat?? Thanks

  • B C says:

    Does anyone have the link for upgrading Amex Rewards Gold Charge to Platinum? Assuming this still gets you 20k for the upgrade. Thanks

  • Vasco says:

    OT: If I cancel my BAPP, will my 2-4-1 voucher remain available? I know it stays if you downgrade, but I’ve heard conflicting accounts of what happens if you cancel altogether. I have the Amex Gold and SPG, so I can always pay the the fees with those, that’s not the problem.

    • Radiata says:

      In all likelihood, yes.

      There was a report on flyertalk of a voucher being rescinded but this contrary to the t&c and in the main, although the AMEX agent may insist otherwise, the voucher remains in one’s BAEC account.

      As you are aware, one must pay associated fees when redeeming with an AMEX.

      • Vasco says:

        Thanks, that’s what I thought too, but wanted to be double sure!

  • Navara says:

    Buy a Phone or Tablet From Sky Mobile, and You’ll Get a Free Return Flight to Europe.
    No sure if it’s been highlighted before.
    just seen it in the nectar app

    • the real harry1 says:

      I got this in the post & thought about flagging it – until I saw the cost! If you had somebody else paying for the phone or tablet, you might go for it – if it’s your own money, you’d be crazy, really poor pricing.

      Return Flights >£100 on only

      I threw it away but there’s a page online if you feel like googling it

    • Alex W says:

      Cheapest option seems to be Sony Xperia L1. £6 per month for 2 years i.e. £144. There are flights worth hundreds available. Could be another hoover??

      • the real harry1 says:

        +£5/ month cheapest data plan = £11/ month for 24 months then £6.50 for 5 months
        total £296.50

        • the real harry1 says:

          before anybody gets too excited, the thingy I got in the post made it clear it was only valid for flights up to £100 on (& limited destinations) – so they’ll be filtering out any flights currently over £100

          The most you can get as a discount is therefore £100 (plus possibly £11 discount per person for additional pax paying £89)

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

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