Tesco points drop in value tomorrow
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.