thegeek wrote: ↑
Fri 10 Jan, 2020 22.36
WillPS wrote: ↑
Fri 10 Jan, 2020 10.00
I just hope they don't kill my much nicer looking "Premium" one off yet (closed to new applicants in 2018).
The premium offering used to be Tesco Finest branded - posts on their forums suggest that they've been duly renewing them even though they've been long discontinued. The artwork on this page
shows them with the pre-2005 Finest logo and post-2010 Tesco Bank one.
That's a different product actually - the Finest Mastercard World product was a rouse Tesco Bank came up with in the days before the EU cap came in, when different types of Mastercard would attract a different interchange rate (the % Visa, Mastercard etc. can indirectly charge the merchant, some of which is shared with the card issuer).
A cunning plan - except it turned out that whatever gain Tesco Bank made from being able to collect higher fees from merchants was quickly negated by the extra fees Tesco Stores had to pay for processing them; and naturally Tesco Bank Credit Card customers tend to spend a lot in Tesco Stores.
You can read a little about it here: https://www.headforpoints.com/2013/06/0 ... astercard/
It was offered from the mid 00s to 2013, going by the date of that article. They are still renewed and you do see them out and about occasionally - normally with the globe design (I can't be the only person to judge people based on the design of their payment card, can I?) . To all intents and purposes they function exactly the same as the standard cards now, design aside.
The Tesco Premium Credit Card was introduced in 2017. The key features of that card were a fairly generous earning rate along with a bonus dump of points if you spend £5k at Tesco inside the year. Unfortunately they also packed in a load of travel 'perks' that nobody really wanted - insurance, some weak voucher to use at BA, a fairly useless promo on forex at Tesco Bank Travel Money etc, which meant the card hit the market with a whopping £150 annual fee which made it pretty tricky to justify.
To try and gain some traction they offered a load of sign up incentives ranging from 5000 Clubcard points to £100 cashback. Of course, this led to people taking the card for a year then dropping it like a hot stone.
The card was closed off to new applicants in 2018, Thankfully they have subsequently removed all the travel bloat and dropped the annual fee to a far more acceptable £36.
thegeek wrote: ↑
Sat 11 Jan, 2020 06.41
Pete wrote: ↑
Fri 10 Jan, 2020 22.44
My Aunt still had one of the old chargecards a few years back.
I think my mum might still have an M&S chargecard, which stopped making sense about 15 years ago.
On a tangent, I love how shit the M&S debit card looks. It's kind of like one of those 'Britain is great' wraparound front pages the Sun occasionally do.
It really is awful isn't it? It reminds me of the sort of collages you had to do in year 7 art.