Back in May, we covered the announcement that Tesco Bank had decided to pull out of the mortgage market.
It was recently announced that Lloyds Banking Group had bought the ‘book’ in a £3.8bn deal. It paid 2.5% over the face value of the outstanding loans.
It seems that Tesco Bank is being more than fair with compensation to mortgage holders who will no longer be able to collect Clubcard points on their mortgage payments.
For customers on a fixed rate or tracker mortgage, they will receive – in one chunk – all of the Clubcard points they would have earned over the remaining term of their fix or tracker deal.
For anyone on a standard variable rate, they will receive a one-off payment equivalent of 12 months of Clubcard points. This is generous, given that the customer could then immediately remortgage.
The reader who sent me details was in line for a payout of 23,000 points, worth 55,000 Avios.
How to earn Avios from UK credit cards (January 2022)
As a reminder, there are various ways of earning Avios points from UK credit cards. Many cards also have generous sign-up bonuses!
There are two official British Airways American Express cards with attractive sign-up bonuses.
There are special sign-up bonuses on both of the BA American Express cards until 28th February 2022. The bonus on the free card is doubled to 10,000 Avios and the bonus on the Premium Plus card is increased from 25,000 Avios to a huge 40,000 Avios.
You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points, such as:
Run your own business?
We recommend Capital On Tap for limited companies. You earn 1 Avios per £1 which is impressive for a Visa card, along with a sign-up bonus worth 30,000 Avios.
30,000 Avios is a special offer which runs to 4th February 2022.
You should also consider the British Airways Accelerating Business credit card. This is open to sole traders as well as limited companies and has a 45,000 Avios sign-up bonus.
45,000 Avios is a special offer which runs to 28th February 2022.
Click here to read our detailed summary of all UK credit cards which earn Avios. This includes both personal and small business cards.
(Want to earn more Avios? Click here to visit our home page for our latest articles on earning and spending your Avios points and click here to see how to earn more Avios this month from offers and promotions.)