Reply To: Massive Clubcard devaluation

[WillPS]

I think it’s still *just about* worth keeping the Tesco Premium Card I have going. Changed my mind, it’s dead.

For ‘everywhere else’ spend it’s totally dead now – it goes from being effectively 0.75% (less in reality) to 0.5% (less in reality). It was borderline before but now it’s easily beaten by the free Avios Barclaycard, converted to Nectar which works out as 0.66%.

For Tesco it still makes sense if you spend that £2500 – 1 pt per £ plus 2500 pt bonus at £2500, so 5000 points, in theory worth £100 – probably more like £90 once you factor in the cost you pay vs what you’d pay cash. Knock the annual fee off and you’ve got a rate of a little over 2% at Tesco, and every £ over that is worth about 1.8%.

Not a product I feel particularly smug about having any more but still useful.

Just need to figure out how best to get value from the £200 or so worth of vouchers I will have by June before the devaluation.

Edit – just remembered that I can buy Tesco gift cards with a 4% discount via Perks at Work. RIP Premium Card.