(This offer has now expired. You can still apply for the card using the links below but there is no bonus at present.)
If you are making a New Years resolution to take a fresh look at your finances, you may be rethinking which credit cards you carry. In particular, you might be looking for a new card which offers reward points and / or a long ‘0% interest on purchases’ or ‘0% interest on balance transfers’ period.
If so, you might want to take a look at the Tesco Clubcard MasterCard.
Tesco Bank is currently offering a sign-up bonus of 1,000 extra Clubcard points when signing up for a Tesco Clubcard MasterCard via certain partners, including Shopper Points. You won’t find this offer on the main Tesco Bank website.
The offer expires on Monday 23rd January.
The credit card that qualifies for this deal is the ‘purchase’ version of the card. You need to apply for it via this link here. It comes with 0% interest for 17 months of new purchases.
The representative APR for the card is 18.9% variable.
The Tesco Clubcard Mastercard has no annual fee. The interest rate on this version offering the bonus points is 18.9% variable – this is way more than the cheapest card on the market which is about 6% per year, so avoid it if you do not clear your balance every month. Have a look at Moneyfacts to compare credit cards and their interest rates.
There are other versions of the Tesco Clubcard MasterCard available, some with lower interest rates and some with good interest free or balance transfer deals. This version (click) offers 0% interest for 40 months on balance transfers. This version (click) offers 0% interest for 28 months on new purchases. These cards do not offer the 1,000 Clubcard points for signing up.
In order to receive the sign-up bonus you need to make a purchase or transfer a balance within 2 months of opening the account.
With this Tesco Mastercard you will be rewarded with extra Clubcard points every time you use the card. You will receive 1 extra Clubcard point for every £4 spent at Tesco.
The earning for general purchases outside Tesco is not that great anymore. It used to be 1 point for every £4 but has recently been changed to 1 point for every £8. As you receive your points per transaction you might not even get as many points as you expect. If you spend for example £7.99 you will receive no points at all and everything between £8 and £15.99 will give you only 1 point. You can read more about this here.
With 1,000 Clubcard points available for a temporary period, the card is worth a look as long as you intend to clear your balance every month and not incur interest at the toppy rate of 18.9% APR. Paying 0% interest for 17 months on new purchases is also worth having. You can apply here.
PS. Don’t forget that American Express is currently offering 20,000 Nectar points when you sign up for their card. You can find out more in our review of the Amex Nectar credit card.