How you can earn points by switching your mortgage to Tesco Bank

I haven’t look at Tesco Mortgages before, because Tesco has been rolling out the product very slowly.  It now feels established so I thought I would run through the key features today.

Firstly, of course, you should be clear that mortgages are very specialist financial products.  You should take specific financial advice before entering into one.  It is very, very unlikely that whether or not you receive Clubcard points will make the difference between Tesco Bank being the right or wrong provider for your circumstances.

The earning rate is simple.  You will receive 1 Clubcard point for every £4 payment you make on your mortgage.

Tesco Bank

Importantly, the earning rate does not differentiate between interest and capital repayments.  However your monthly payment gets split, you still earn 0.25 points per £1.

You will also earn the same rate on any overpayments you make, as long as you are not closing off the mortgage.

A £1,000 monthly mortgage payment would earn you 250 Clubcard points.  Nice to have, of course, but unlikely to make Tesco Bank the best choice if it is not already the best choice.

You can find out more about the Tesco Bank mortgage range on their website.

Want to earn more Clubcard or Nectar points? Click here to visit the Shopper Points home page for the latest news and offers. Come back every day for new deals or join our email list.

Do you have a Clubcard or Nectar credit card?  If not, you can receive up to 20,000 FREE points for signing up!  Full details are in this article.

Do you convert Clubcard points into Avios or Virgin Flying Club? If you do, visit our sister site, Head for Points, which is full of tips for maximising your frequent flyer miles.

New Tesco MasterCard variant - NO balance transfer fee
500 Clubcard points when you buy Spiderman 2 from Blinkbox
Want to earn more Clubcard or Nectar points? Click here to visit the Shopper Points home page for the latest news and offers. Come back every day for new deals or join our email list.

Do you earn Clubcard or Nectar points from your credit card?.  If not, you're missing out. We review the best options in this article.

Do you convert Clubcard points into Avios or Virgin Flying Club? If you do, visit our sister site, Head for Points, which is full of tips for maximising your frequent flyer miles.



About Shopper Points

Shopper Points helps you earn more Tesco Clubcard and Nectar points! Visit every day to see our latest articles, follow us on Twitter and Facebook, or sign up for our FREE emails via this page or the box to your right.