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Credit Cards

What's changing about my Premium Credit Card?

Starting from 1st February 2019 we'll be making some changes to your Premium Credit Card. From this date, you'll continue to receive the same benefits as you do currently, until you reach the next anniversary of your account opening. After this anniversary, you will have updated benefits and a new set of Terms and conditions will apply. We're sending you a letter to confirm when exactly this will happen.

Here's what's happening:

 

  • We're lowering your annual fee to £36 per year. From 1st February 2019 we're changing your Terms and conditions to lower the annual fee to £36 per annum. This reduced fee will be charged on the statement issued in the anniversary month of your account opening.
  • We are removing Travel Insurance as a benefit. We are removing Travel Insurance as a benefit from the Premium Credit Card as Tesco Bank will no longer provide Travel Insurance. Your existing cover will remain in place until 11.59pm on the day before you move onto the new benefit Terms and conditions. After this date you’ll no longer be insured to travel under this policy and will need to make other arrangements.
  • We are changing the bonus Tesco Clubcard points benefit. We are changing the bonus Clubcard points benefit on your Premium Credit Card. From your anniversary date onwards, if you spend £2500 in qualifying spend on your Premium Credit Card at Tesco in any year you will collect 2500 bonus Clubcard points. Until this date if you spend £5000 in qualifying spend on your card at Tesco in any year you will collect 5000 bonus Clubcard points. Terms and conditions apply. See your benefits Terms and Conditions for details.
  • Nothing else is changing. You'll still have your other Premium Credit Card benefits and your Clubcard points collection rate will also remain the same.

 What happens if my annual fee is due before 1st February 2019?
 If your annual fee is due before 1st February 2019, you will pay your original card fee and all of your benefits will remain the same until your next anniversary.

When my benefits change will I still collect 5000 bonus Clubcard points if I spend £5000?
Your Premium Credit Card benefits will change on your first anniversary date on or after 1st February 2019. Prior to this, if you spend £5000 in qualifying spend on your Premium Credit Card at Tesco in any year you will collect 5000 additional Clubcard points. After this date, if you spend £2500 in qualifying spend on your Premium Credit Card at Tesco in any year you will collect 2500 bonus Clubcard points. You will only collect these bonus Clubcard points once per year.

I'm on track to collect 5000 bonus Clubcard points this year, will I get these?
Your Premium Credit Card benefits will change on your first anniversary date on or after 1st February 2019. Prior to this, if you spend £5000 in qualifying spend on your Premium Credit Card at Tesco in any year, you will collect 5000 bonus Clubcard points.

Can I have the revised Premium product early?
You will change onto the revised product automatically on the anniversary date of opening your account. We cannot update you to the revised Premium Credit Card any earlier. 

I’ve already submitted a claim on my Travel Insurance. Will this be honoured?
Any claims that arise prior to the Travel Insurance expiry date will be processed in the usual manner.

What happens if I want to continue to have Travel Insurance?
We will not be able to provide you with an alternative policy, you will need to make other arrangements for your Travel Insurance. 

Is the coverage of my travel insurance policy still the same?
Yes, your coverage remains exactly the same until your policy end date.

 Who do I now contact if I want to make a claim?
To make a claim please call 0345 677 7555. Calls may be recorded. This number may be included as part of any inclusive call minutes provided by your phone operator.