Refused Tesco Credit Card

Shores

Registered User
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Hi All,

We've just been refused a Tesco Credit Card. Money's been really tight for the last couple of years and I was hoping that we could use a Tesco Credit card on every day items to collect the points and then pay off as we went along(groceries, petrol etc.) - this is so that we could possibly get a ferry trip away with the club card points next year.

We have two mortgages - one which is a PPR that we are paying in full, the other is a rental house that we own that we've been on interest only with since January of this year. We also have large childcare costs.

We just applied online for the credit card and we got refused - this time last year my husband had applied and had got accepted but at the time we didn't take up the offer.

Would it be because of the interest only on the mortgage 2 that we have? I'm so disappointed as I finally thought we'd found a way to live a little by using the club card points.

Thanks
 
I would say the interest only is an issue. I have friends who have been rejected and cannot understand why at all. They have no issues with any debt.
 
After looking into using club card points on the ferry...its false economy to use your vouchers on the ferry deals...same goes for the hotels deals....
 
@Sandals: why do you say it's a false economy to use vouchers on the ferry deals?
Not saying I necessarily disagree but just wondering what your reasons are.
 
Generally if you are using clubcard vouchers for deals such as ferry and hotels, they can only be used on the standard rate. There could be a cheaper rate if you don't use vouchers.
For example I got the ferry to France a few years ago. The fare using Tesco clubcard deals was approx €800, and I had enough to pay in full with vouchers (I had to use €200 clubcard vouchers to get €800 deals vouchers). If I didn't have tesco vouchers at all there would've been an early booking deal which was cheaper, maybe €700, I don't remember exactly.
However if you only had €100 in deals vouchers, then it wouldn't be worth using them - you'd be better off going for the early booking deal and keeping the Tesco vouchers for something else.
I've used tesco vouchers to pay in full for ferries a few times.
 
After looking into using club card points on the ferry...its false economy to use your vouchers on the ferry deals...same goes for the hotels deals....

I found this too, but it depends how much you've managed to save in vouchers on whether its worth it. I recently booked Stena Line Dublin-Holyhead and wanted to use my grand total of £20 Tesco vouchers to get £60 discount. I would have had to have booked the flexi fare which would have been £10 more than economy each way, and then they charge an extra £20 admin fee on top of that for using vouchers - so an extra £40 which meant most of the discount would have been wiped out!! Kept the vouchers and booked economy!!
 
I got a tesco credit card recently. I have tesco mobile bill pay also. The vouchers are trebled on tesco deals to use on tesco mobile (bill or ready to go). I will now get most of my years phone package paid for through deals. I do not shop much at Tesco anymore (Terrible meat and can be expensive relative to Aldi), just use my credit card quite a bit, and get points when paying off Bord gas bill. My initial limit is 2000. As for tesco mobile, reception has been good, its the O2 network. I have seen tesco coverage issues one day in the past 6 or 8 months (network down nationally). Compared to Vodafone the price and allowances on their phone packages are a gift. The lack of shops makes phone repair awkward (Send to Dublin by post at own risk). The fact that there is no online access to tesco credit card is poor (and statement delivery from the UK can take ages) but the clubcard account gives you a good idea of money spent on the card.
 
@Sandals: why do you say it's a false economy to use vouchers on the ferry deals?

Sorry, could only change my login details from a pc for some reason.

Yes, false economy, as you need to choose that you are using tesco vouchers so your not getting full worth of them as opposed to using them at a restaurant. You end up getting higher price and an add on admin fee as stated by others...

As a side, I now see if you buy deals thro living social, you can earn points if you register your clubcard!!!
 
I would say the interest only is an issue. I have friends who have been rejected and cannot understand why at all. They have no issues with any debt.

Correct. I was turned down flat out even though I've zero debt, more than double an average income and several months wages as savings. They may be looking at one or two peripheral things (I work contract, and I think they just refused me on that alone).
 
We've just been refused a Tesco Credit Card. Money's been really tight for the last couple of years and I was hoping that we could use a Tesco Credit card on every day items to collect the points and then pay off as we went along(groceries, petrol etc.) -

What do you mean by pay off as you go along, do you not budget each month for groceries and petrol? How will a credit card help this?
 
What do you mean by pay off as you go along, do you not budget each month for groceries and petrol? How will a credit card help this?

I think what the OP means is that instead of everyday expenditure coming directly from their current account via their debit card, they will use their credit card instead, earn points and have additional income in the form of vouchers that they can use to pay for a holiday etc that they could not otherwise afford. They can then transfer the funds immediately from their current ac to the CC as they go and pay the credit card off in full each month.

It's a fantastic idea if you are good at money management and can be guaranteed to pay the credit card off every month but if your budget is tight as soon as you end up having to pay late fees or interest on the credit card the savings are cancelled out. The credit card companies rely on this of course!!
 
Choosing to rely on a credit card with all the well known pitfalls, in order to get approx. 1% value back in vouchers (in return for being locked into a single vendor) sounds stark raving bonkers.
 
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