It is, of course, nowhere near as generous as it was. Since December 2015, it has offered 1 Clubcard point for every £8 you spend. In 2015 it was 1 per £4. Go back five years and it was 1 point per £2.
It gets worse. Annoyingly, this is calculated on a ‘per transaction’ basis. An £8 transaction gets you 1 point. However, a £15.99 transaction also gets you just 1 point. And any transaction of £7.99 or less earns nothing! It has a big impact on your earnings if you put through lots of small transactions. However, on larger transactions, this is not a major issue.
1 point per £8 means you are getting 0.125p per £1 back. If you are getting 3x the face value of your points via a good Boost deal, you will be turning that into 0.375p per £1 which is better.
You receive double this rate when shopping in Tesco, where you earn 1 point for every £4 spent.
The best balance transfer deal in the UK
The reason I wanted to mention the Tesco Clubcard MasterCard again today is that it currently offers the longest balance transfer deal of any UK credit card.
There are various versions of the Tesco Clubcard credit card. They all look the same but each has different features – a low interest rate, 0% on balance transfers, 0% on new purchases etc.
This version (click) offers 0% interest for 40 months on balance transfers. You can transfer a balance from an existing credit card and pay 0% interest for 40 months – that means the end of 2019! The maximum transfer is 95% of your credit limit.
You can also transfer money, up to 95% of your credit limit, into your bank account. This will also be interest free for 40 months.
You need to make transfers within 90 days of taking out the card.
The representative APR on this card is 18.9% variable on new purchases.
If you are interested in this offer, you need to apply via this page of the Tesco Bank website.
If you want to check your credit record before applying for a new card, click here for a free 30-day trial of Equifax’s online credit report service. Note that a monthly fee of £14.95 will be charged if you do not cancel during the 30-day free trial period.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.