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Tesco Clubcard to Virgin Atlantic conversion rate cut to £1 = 200 Virgin Points

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If you have a Tesco Clubcard account, you should have had an email last week about a substantial devaluation of Clubcard partner rewards.

From 14th June, the conversion rate for all partner rewards drops from 3x face value to 2x.

This means, for example, that £10 of Tesco Clubcard points will only get you £20 of credit instead of the current £30.

Tesco Clubcard to Virgin Atlantic conversion rate cut

To soften the blow slightly, any Tesco Clubcard vouchers you redeem now for partner vouchers will be valid for 12 months instead of the usual six months. This offer runs until 13th June. The idea is that you can cash in now and think later about what you will use them for.

With Avios and Hilton Hotels gone as Clubcard partners, the scheme has become less relevant for HfP readers. We wrote this detailed article here about the best travel-related partner offers still available.

What about transfers to Virgin Points?

Whilst Avios withdrew from Clubcard in early 2021, Virgin Points has (and will continue to be) a Tesco Clubcard partner.

The email sent out by Tesco last week was not clear about the future of transfers to Virgin Points.

I have spoken to Virgin and the position is this.

Transfers into Virgin Points from 21st July 2023 will convert at the rate of 100 Clubcard points (£1) = 200 Virgin Points.

Tesco Clubcard to Virgin Atlantic conversion rate cut

This is a drop from the current rate of £1 = 250 Virgin Points.

21st July is the change date for those who auto-convert, to avoid confusion over the rate reducing midway through a Clubcard statement period. If you convert manually, the rate will change on 14th June.

The ratio between Virgin Points and other redemptions has improved

Whilst you are clearly getting fewer Virgin Points for every £1 of Tesco Clubcard vouchers you redeem, Virgin Points are – proportionately – going to be better value.

Here’s an example.

At the moment, 100 Clubcard points gets you £3 of partner vouchers or 250 Virgin Points. You are effectively ‘paying’ 1.2p per Clubcard point, because you are giving up £3 of partner vouchers.

Following the change, 100 Clubcard points gets you £2 of partner vouchers or 200 Virgin Points. You are now effectively ‘paying’ just 1p per Virgin Point.

(In reality these numbers are inflated, because very few Clubcard partner redemptions genuinely get you 3x face value. Bookings at using Clubcard vouchers do not earn Rewards credit, for example, which is worth 8% of your spending.)

If you didn’t previously consider Virgin Points to be good value compared to other Clubcard redemptions, you may want to think again.

If you want to earn more Virgin Points, our review of the Virgin Atlantic Reward+ Mastercard credit card is here (15,000 bonus points) and our review of the free Virgin Atlantic Reward Mastercard credit card is here.

How to earn Virgin Points from UK credit cards

How to earn Virgin Points from UK credit cards (September 2023)

As a reminder, there are various ways of earning Virgin Points from UK credit cards.  Many cards also have generous sign-up bonuses.

You can choose from two official Virgin Atlantic credit cards (apply here, the Reward+ card has a bonus of 15,000 Virgin Points):

SPECIAL OFFER: The sign-up bonus on the Virgin Atlantic Reward+ Mastercard is doubled to 30,000 Virgin Points if you apply by 2nd October. You receive 15,000 Virgin Points with your first purchase and a further 15,000 points if you spend £3,000 within 90 days. Apply here.

Virgin Atlantic Reward+ Mastercard

30,000 bonus points (SPECIAL OFFER TO 2ND OCTOBER) and 1.5 points for every £1 you spend Read our full review

Virgin Atlantic Reward Mastercard

A generous earning rate for a free card at 0.75 points per £1 Read our full review

You can also earn Virgin Points from various American Express cards – and these have sign-up bonuses too.

American Express Preferred Rewards Gold is FREE for a year and comes with 20,000 Membership Rewards points, which convert into 20,000 Virgin Points.

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 comes with 30,000 Membership Rewards points, which convert into 30,000 Virgin Points.

The Platinum Card from American Express

30,000 points and a huge range of valuable benefits – for a fee Read our full review

Small business owners should consider the two American Express Business cards. Points convert at 1:1 into Virgin Points.

American Express Business Platinum

40,000 points bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

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

Click here to read our detailed summary of all UK credit cards which earn Virgin Points

(Want to earn more Virgin Points?  Click here to see our recent articles on Virgin Atlantic and Flying Club and click here for our home page with the latest news on earning and spending other airline and hotel points.)

Comments (34)

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

  • zapato1060 says:

    Every little helps for them it seems and from 4x to 3x to 2x. Then they wonder why many like me have not set a foot in a Tesco for eons.

    • JDB says:

      @zapato1060 – Tesco has increased its market share, with well over a quarter of the UK grocery market while many others are slipping, so they must be doing something. They took the decision a few years to simplify the business and move away from non price promotions, eg Avios etc. which were anyway irrelevant to 90%+ of their customers. It may not suit you, but it’s been great for most customers and shareholders.

      • RussellH says:

        Share price had already dropped significantly long before SVB / CS nonsense.
        Nearest Tesco far too popular to be a pleasant place to shop, though.

      • ken says:

        Tesco’s market share is less now than it was in 2005

        The share price is lower now than almost anytime between 2000 and 2014

        Made a whole load of strategic and operational mistakes over last 2 decades.

        • QFFlyer says:

          I’d long since stopped bothered looking at Tesco’s share price, but I worked there for a while as a teenager and there was a share incentive scheme, which I eventually cleared out in 2007, around £6 per share. This was on top of a purchase program which set the price at the time of enrolment (£2.xx per share, if I remember correctly).

          Looks like that was the best time in the whole of the last 30 years to dump Tesco shares, by a long way. Just good timing and luck of course.

      • Harrier25 says:

        The only reason Tescos are the biggest supermarket in the UK is because they have more outlets than anyone else. Sainsbury’s are the 2nd biggest because they have more supermarkets than Asda. Although a few people go out their way to go shopping at their favourite supermarket, most just use their nearest most of the time for convenience.

    • Andrew says:

      To be fair to Tesco even 2x is extremely generous compared to the competition. Spend £1 in Tesco and receive 2p back in rewards. The Sainsburys/Nectar equivalent is 0.5p back for every £1 spend (although there are more bonus point earning opportunities)

  • BJ says:

    There’s currently a Virgin Red refer a friend promotion for up to 20k points for referral made through end of this month. Qualifying activity which excludes points purchases anf transfers need to be within the next year I think.

  • TimM says:

    Tesco invented the loyalty card. Now we are so conditioned into using them, Tesco seem little need in giving us any value from theirs.

    Like Zapato above, I walked away from Tesco a long time ago. The things I used to be only able to buy at Tesco, they stopped selling. Tesco cannot compete on value with Aldi or Lidl nor on choice with Sainsbury’s. With serial devaluations in Clubcard points, what now is the point of Tesco?

    • BJ says:

      Must be a youngster if you don’t recall Co-Op, Green Shield stamps etc.

      • TimM says:

        What Tesco introduced was a means of collecting data about individual shoppers. Co-op and Green Shield didn’t do that.

    • Rui N. says:

      Ask the people that make it the biggest chain, by revenue, in the UK?

      • TimM says:

        They should be asked.

        • Rui N. says:

          I know the answer, no need to worry: not everyone lives in your bubble and the same stuff doesn’t matter to them.

  • captaindave says:

    Currently use Tesco a lot, mainly because the only alternative is a Morrisons where i live, and i have done ok out of some of the clubcard deals over the years, but will be moving to NorthernMonkey Land in next few months, then my nearest stores will be Aldi or Waitrose.
    There is a Tesco in a nearby town, but will probably sack them off given how they have gutted the CC scheme over the years, and we should be able to save decent money at Aldi, and even Waitrose basics are supposed to be ok these days..

    • RussellH says:

      We go to Morrisons for the Sunday afternoon price cuts.
      Our nearest Tesco is huge and often incredibly busy, and very unpleasant to visit as a result. But the next nearest one, while much smaller, is a very civilised and pleasant place to visit.
      But Aldi is just so much cheaper.

  • GREYGOOSE says:

    Rob, your final section re ratio of virgin points needs correcting. In 2nd & 3rd paras I think you mean club card points buying virgin points rather than e.g. 2nd para stating presently that 100 club card points buys you 250 clubcard points!

  • M says:

    I am a Tesco Clubcard user with points saved up for a special occasion. This is the first I’ve heard about this change – no email from Tesco last week….Ouch! Gonna have to plan a holiday….

    • RussellH says:

      No e-mail here either. But in general, I get very annoyed by companies that e-mail me, so I ask them not to.

  • Greygoose says:

    Rob, your last section regarding ratios needs correcting. You talk about club card points buying club card points whereas I think you mean they buy virgin points!

    • Rob says:

      Fixed, sorry. Was written late last night as Virgin didn’t get back to me until then.

  • JohnTh says:

    Times is hard, Mrs Lovett!
    So not unexpected unfortunately but could have been woŕse. However they do good clubcard prices, more obvious than Sainsbury’s personal offers that you can only see in the app.

    • lumma says:

      The Clubcard prices are just the deals that would have been available to all previously. You just lose out now if you don’t have/want to use one.

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

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