Tesco points drop in value to­mor­row

The Daily Telegraph - Your Money - - FRONT PAGE - Adam Wil­liams

Tesco shop­pers are be­ing urged to trade their Club­card points for dis­count vouch­ers and other re­wards to­day be­fore they de­pre­ci­ate in value.

The su­per­mar­ket gi­ant an­nounced a shake-up of its re­wards pro­gramme ear­lier this year, with points due to lose 25pc of their value when re­deemed with many of Tesco’s part­ner companies.

At present, cus­tomers can ex­change their points for vouch­ers to be used at high street restaurants and vis­i­tor at­trac­tions.

Club­card hold­ers cur­rently re­ceive vouch­ers worth up to four times the value of the points when they re­deem them with these companies, or “re­ward part­ners”.

In prac­tice, this means £2.50 worth of Club­card points can be ex­changed for a £10 voucher to use on days out or in restaurants.

How­ever, from to­mor­row Tesco will cap this ex­change rate at three times the value of the points. Shop­pers must re­deem their points to­day to en­sure they do not lose out fi­nan­cially be­cause of the changes.

Cus­tomers typ­i­cally have six months to use a voucher, mean­ing they are able to cash in their points to­day and en­joy the re­wards later in the year.

Restau­rant chains such as Pizza Express, Prezzo and Zizzi are among those whose vouch­ers will be re­duced in value to­mor­row.

At­trac­tions such as the Bea­tles Story ex­hi­bi­tion in Liver­pool, Light­wa­ter Val­ley theme park in North Yorkshire and Lon­don Zoo will also see their value de­pre­ci­ate.

How­ever, in some in­stances cus­tomers could be bet­ter off wait­ing un­til af­ter the change, as the ex­change rate will be in­creased for a small num­ber of part­ners.

Club­card points worth £5 could be ex­changed for £10 to spend with coach com­pany Me­gabus or re­tailer Evans Cy­cles to­day, but this will in­crease to £15 to­mor­row.

Tesco courted con­tro­versy when it an­nounced the changes in Jan­uary, as it planned to ap­ply the cuts im­me­di­ately.

It later im­ple­mented the June dead­line fol­low­ing a back­lash from shop­pers. It said the changes would help “sim­plify” the re­wards sys­tem for card­hold­ers.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.