Tesco Credit Cards Review

The idea of a supermarket club card is nothing new. Tesco have been providing them to their customers for years in order for them to take advancement of special discounts and earn points in return for their loyalty in shopping at their local Tesco. Tesco credit cards are an evolution of the free Tesco Clubcard that provides credit worthy customers with a Tesco branded MasterCard that is accepted anywhere that MasterCard is, and provides shoppers with the opportunity to earn reward points and gain access to all kinds of special shopping offers. For those who tend to do their regular food shopping at Tesco anyway this is certainly a credit card that would be very useful.

Tesco Credit Card Basics

Once upon a time, Tesco was just another supermarket chain. Over the years the company has evolved and its Tesco Financial branch now offers all kinds of financial services including the issuance of the Tesco Clubcard credit card.

Those who wish to apply for the Tesco credit card can choose to do so in a Tesco store in person or by filling in a short application form on-line. Customers must be at least 18 years of age, UK residents and be currently employed. When applying for a Tesco credit card you will have to provide your monthly income after tax and national insurance, your employer’s address and phone number, your banking details and your addresses for the past three years so it will speed the process if you have all this information on hand.

When it comes to the actual numbers associated with Tesco credit cards they stack up fairly well against other credit cards that consumers can choose from. The variable APR charged on Tesco credit card balances is on average 16.9% but it can go as high as (but no higher than) 21.9% depending on an individual’s credit rating. According to to Tesco Financial though more than 50% of their approved credit card customers do receive the lower APR immediately and others can lower the APR charged on their card by making timely payments on a regular basis.

New Tesco credit card holders do receive a break in the form of 0% APR on purchases for 13 months and on balance transfers for 9 months. There is also an interest free period of up to 51 days on purchases made on the Tesco credit card if you pay your balance in full and on time, and have paid the previous month’s balance in full and on time.

Tesco Credit Cards Benefits

If you already have a standard Tesco Clubcard, which is offered to all Tesco shoppers, you will be familiar with the concept of the Clubcards Reward scheme. If you are not, it is a points system that rewards shoppers whenever they make a purchase of any kind at Tesco and those points can be converted into rewards of many different kinds. When you are approved for a Tesco credit card the credit replaces that free Clubcard and by using it to pay for all your Tesco purchases you can earn all the same rewards as other shoppers as well as additional rewards available only to Tesco credit card holders.

In addition to receiving points for the purchases they make at Tesco or on Tesco branded products Tesco credit card holders earn points on all the purchases they make on their credit card anywhere in the world. These points are rewarded at the rate of 1 club point for every £4 spent.

The Clubcard rewards program is probably one of the best offered by any supermarket chain in the UK. In addition to earning 1 point for every £1 spent on most grocery items (excluding cigarettes, milk, prescriptions and baby formula) you can earn double points if you shop at tescoentertainment.com. You can also earn points when you fill up at Tesco petrol stations or if you are a subscriber to Tesco’s mobile, broadband or home phone services. Those who hold Tesco insurance policies can also earn Clubcard points when they pay their insurance premiums.

Rewards are awarded in the form of vouchers which are mailed out regularly. Every time you accrue 150 points you will receive a voucher that has a monetary value of £1.50. Seasoned Tesco Clubcard veterans know though that rather than redeem the vouchers for money off your Tesco purchases you can often get a lot more for your rewards points if you use them on some of the entertainment and travel special offers instead. For example, by redeeming £6.50 in Tesco Clubcard vouchers you can choose a single day admission ticket to Woburn Safari Park, which is a £19.99 value.

Managing Your Tesco Credit Card Account

Tesco credit card holders can manage their account online and access it at anytime. Their is also a 24 hours a day, 7 days a week live UK based customer service center that cardholders can call free of charge whenever they have a question or concern that is not addressed on the website. Card holders can also opt to receive text or email alerts whenever there is activity on their account or to remind them that their payment is due!