Tesco offering targeted 24,000 Avios for opening their bank account …. general offer on the way?

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When Tesco Bank launched its current account last year, it was done very quietly. They wanted to make sure that their systems worked and did not want to attract a huge rush of business on Day One.

The problem with this strategy is that it has made the account uncompetitive. Marks & Spencer is offering £100 if you switch your current account to them. First Direct is also offering £100. Tesco is offering nothing.

I have written a few times on HFP that I expected a 10,000 Clubcard points offer to materialise eventually. It has now arrived – but only for targeted customers.

10,000 Clubcard points, of course, will convert into 24,000 Avios points or 25,000 Virgin Flying Club miles.

Tesco Bank 10,000

Tesco Bank emailed some existing customers yesterday with an offer of 10,000 Clubcard points if you open a Tesco current account and move your banking across. It appears that you do NOT need to agree to your existing current account being closed to qualify.

This offer is targeted. The email sends you to the standard website for Tesco Bank where this offer is NOT mentioned – Tesco will presumably work out manually who qualifies and who does not.

Whilst you can never guarantee that this offer will eventually be made generally available, it would not surprise me. 10,000 Clubcard points simply matches the £100 offers from M&S and First Direct. You’ll hear about it here first if and when it happens.

How to earn Avios points from UK credit cards

How to earn Avios from UK credit cards (December 2021)

As a reminder, there are various ways of earning Avios points from UK credit cards. Many cards also have generous sign-up bonuses!

There are two official British Airways American Express cards with attractive sign-up bonuses:

British Airways BA Amex American Express card

British Airways American Express

5,000 Avios for signing up, no annual fee and an Economy 2-4-1 voucher for spending ….. Read our full review

British Airways BA Premium Plus American Express Amex credit card

British Airways American Express Premium Plus

25,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review

You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points, such as:

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review

The Platinum Card from American Express

30,000 points and an unbeatable set of travel benefits – for a fee Read our full review

Run your own business?

We recommend Capital On Tap for limited companies. You earn 1 Avios per £1 which is impressive for a Visa card, along with a sign-up bonus worth 10,500 Avios:

Capital On Tap Business Rewards Visa

The most generous Avios Visa or Mastercard for a limited company Read our full review

You should also consider the British Airways Accelerating Business credit card. This is open to sole traders as well as limited companies and has a 30,000 Avios sign-up bonus:

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

Click here to read our detailed summary of all UK credit cards which earn Avios. This includes both personal and small business cards.

(Want to earn more Avios? Click here to visit our home page for our latest articles on earning and spending your Avios points and click here to see how to earn more Avios this month from offers and promotions.)

Category

Tesco Clubcard

This article is closed to new posts. Discussion continues in the HfP Forums.

Howard says:

23 Apr23 April 07:49

good points above. I have an old dormant Santander account.
Dave B says:

23 Apr23 April 07:57

There is also 1 club card point for every £8 spent on the tesco debit card. Would have been handy for a recent car purchase.
amex? says:

23 Apr23 April 08:02

Wife got a £30 Tesco gift card offer for taking out home insurance – they knew the date so presumably this was prompted by a previous 100 point take up by telling them date. Not good enough.

But interestingly, a little box at the end says ‘Not ready to renew? Get 100 Clubcard points by telling us your car, home or pet insurance renewal dates by 5th May.’

Which implies you definitely CAN get the 100 points twice.

See http://www.renewals.tescobank.com
Marco Pierre says:

23 Apr23 April 08:12

Ahhh, I just opened my account two days ago for the 3% interest…nomemail from Tesco, just the usual grocery spam they semd me despite having unsubscribed twice.
Col A-B says:

23 Apr23 April 08:46

I received an email offering 5000 points if I switched. I hold a Tesco Clubcard credit card. I wonder how they work out who to target.

Can’t decide now whether to switch on this offer or hold out for 10000! Greedy?
- polly says:
  
  25 Apr25 April 06:34
  
  I think they started with 10k then pulled it as anyone who got the email applied immediately. They may have realised they were being too generous! Then dropped it to 5k by that evening. Just my theory fwiw.
Imbruce says:

23 Apr23 April 08:55

Just be aware that under the new banking code of practice rules you can now only have 1 current account and 1 joint current account. So if you are going to switch you have to close all other accounts. It is to make sure you are not money laundering.
- JQ says:
  
  23 Apr23 April 09:12
  
  This is completely incorrect. At the moment I have 20 current accounts, Yorkshire Bank paid me £1500 to switch 10 accounts (this was before they realised that their T&Cs did not limit it to 1 per customer) and my remaining accounts all earn 3% interest at least.
  - JQ says:
    
    23 Apr23 April 09:16
    
    (Sadly, this means that I opened my Tesco account when it first launched. I’ll probably ring them up and complain and see if they’ll give me £100/10K points for switching if the offer becomes open to all.)
    - Dee Jay says:
      
      23 Apr23 April 09:30
      
      Yes let us know how that goes as I want an offer too!
- amex? says:
  
  23 Apr23 April 09:16
  
  Yep – you are wrong, Imbruce.
  
  Never read such billysollox.
- Dee Jay says:
  
  23 Apr23 April 09:31
  
  Uninformed hearsay
- Jason says:
  
  23 Apr23 April 09:54
  
  How is that ever going to work with the £85k maximum banking guarantee?
- DW201 says:
  
  23 Apr23 April 17:46
  
  Adding my weight to this scrum – I have around 15 current accounts holding my hefty 1st London property deposit until I’m ready to use it.
  
  Playing this game destroys any other easy access saving method (and I easily beat all cash isa rates even @ 40% tax….
  
  Its a lot of admin to set it all up but satisfying watching the money fly around in a circle and snowball 🙂
Peter says:

23 Apr23 April 09:16

Imbruce – where did you get the information that you can’t have more than 1 current account and 1 joint account? I haven’t read that anywhere, nor can I find it anywhere. Please do tell!

Worzel, Frenske was missing the point as they said the following: “Got 5000 points offered. Not enough to entice me away from Nationwide Flexplus and note that I am paying £10pm for that account. The interest and raft of insurances makes it all up for it.” Raffles wasn’t suggesting that anyone necessarily switches an account they’re happy with. Frenske could keep the Nationwide account and switch a different account if they had one. That could well be worth the 5,000 points.
- JQ says:
  
  23 Apr23 April 09:17
  
  Nationwide is offering £100 to switch an account too, but under the guise of “refer your husband/wife for £50 each”
- Worzel says:
  
  23 Apr23 April 09:39
  
  Peter, your polite comments noted, thank you.
- Frenske says:
  
  23 Apr23 April 13:52
  
  Don’t get me wrong I like getting £100 or more for nothing. The other account we have is a Santander household account which gives 3% interest. In our case that is generating more than £100 even after tax year after year and not one off.
  
  I have no qualms with churning credit cards, but I draw the line at churning current accounts. 🙂
  - JQ says:
    
    23 Apr23 April 15:59
    
    Why? You aren’t even borrowing money with current accounts.
- DW201 says:
  
  23 Apr23 April 17:48
  
  Peter – Im assuming Imbruce was looking at 1 bank account’s limits for 1 solo and 1 joint? I have 4 with tsb as I joined before they realised that no one is going to use 2 solo and 2 joint for anything other than savings…..
TrollBasher says:

23 Apr23 April 09:18

Well that’s just charming.

Two life policies, dental policy, 4 pet policies, 15,000 points amassed every quarter, 2 instant access saver accounts and what email or offer did I get..?

50% of bugger all.
- Liz says:
  
  23 Apr23 April 10:04
  
  I haven’t got anything either :(( and I have an old RBS account with £2 in it I could switch over! Fingers crossed something comes in soon!
- Mark says:
  
  23 Apr23 April 18:32
  
  We didn’t either and I’ve had a Tesco credit card for 10 years+ as well as other products on and off. If they think you might sign up for it anyway I guess there’s less incentive to offer an incentive…