You are here: Home - Household Bills - News -

Tesco to slash value of Clubcard reward vouchers (again)

Written by:
Tesco is to make a big change to the Clubcard reward voucher scheme in June, making it less generous again for millions of shoppers – the second downward swipe in the last five years.

Shoppers exchanging their Tesco Clubcard vouchers for rewards to be spent at ‘partners’ across travel, days out and restaurants will receive twice their value, rather than the current triple value.

The change kicks in on Wednesday 14 June 2023, with customers still able to get three times the value up until 13 June at 100 reward partners.

Any reward partner codes ordered before this date will continue to be valid for 12 months from the date of issue, so customers can lock in the more generous exchange and use them at a later date.

Under the scheme, Tesco shoppers earn points for their spends when using their Clubcard. These points then build up into money-off vouchers which can be used at the supermarket, e.g. 500 points is worth £5 (one point = 1p).

But these vouchers can be converted to be used at reward partners where they’re worth three times as much. So, based on the example above, this would mean £15 to put towards a Disney + subscription, one-year railcard, family day out at Alton Towers, Blackpool pleasure beach, cinema, theatre, as well as restaurants such as Café Rouge, Bella Italia and Zizzi, for example.

Exchange value halved since 2018

The move to reduce the exchange value from 3x to 2x comes after they were originally worth up to 4x in 2018.

It is understood the latest change comes as Tesco aims to keep prices low for customers during the cost-of-living crisis. It also offers ‘Clubcard Prices’ on over 8,000 products each week, from food to clothing.

A Tesco spokesperson, said: “Clubcard unlocks the best value from Tesco – from thousands of exclusive deals through Clubcard Prices, to money off your groceries and fuel, or accessing double the value of your vouchers with more than 100 Clubcard reward partners.  ​

“Millions of people tap their Tesco Clubcard every time they shop, benefitting from access to more than 8,000 weekly deals on Clubcard Prices, which we’ve now rolled out across every part of our stores – so from food to clothing, Tesco Mobile to Tesco Bank, you can now find even more great deals.

“And with potential savings of up to £351 a year, more people than ever before are making the most of the immediate value that Tesco Clubcard offers. ​

“We are making a change to how members can use their vouchers with our reward partners, but they will still be able to unlock great value in the same range of ways as before.”​

Tesco to close Clubcard app

Next month (18 April), Tesco will close its Clubcard app, with users required to download the new version ‘Tesco Grocery & Clubcard’ in order to continue collecting points when scanning their phone, spending or viewing vouchers.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week