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New Tesco Clubcard deal means shoppers can increase cashback rewards

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Cashback provider TopCashback has launched a partnership with supermarket Tesco to allow users to convert the cash rewards they have built up into Clubcard points - potentially increasing their value several times over.

To get maximum value out of the deal users must abide by the rules of the Tesco scheme - but for hardcore money savers there could be plenty of value to be had.

As with other cashback providers, TopCashback gives shoppers a percentage of their money back on online purchases when they are made through its system.

Rewards: TopCashback customers can now exchange their cashback for Tesco Clubcard points, giving them the opportunity to more than double their money.

Normally, customers transfer the money they earn into a bank or PayPal account. Alternatively, TopCashback users can choose to convert the money into Amazon or Love2shop vouchers with 5 per cent extra added on top.

The Tesco tie-up allows users to add yet another layer of value.

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Under the offer, TopCashback will give customers 5 per cent extra if they convert their money into Tesco Clubcard vouchers. Customers must have a Tesco Clubcard account to take part.

For example, a customer who has earned £50 in cashback through TopCashback would get £52.50 worth of Tesco Clubcard vouchers.

The vocuhers are then sent to scheme members once a quarter via their Tesco Clubcard statement. They can then be used by making purchases on the supermarket's website or in store. 

To get maximum value, shoppers can opt for specific offers that increase the worth of vouchers. Tesco currently has over 600 different reward offers, including:

£10 of clubcard vouchers a £40 restaurant voucher for Strada, ASK, Café Rouge, Prezzo and Bella Italia.£50 of clubcard vouchers for an annual Merlin theme park pass for one person, including unlimited drinks£10 of clubcard vouchers for a £30 Goldsmiths jewellery voucher£10 of clubcard vouchers for £30 Marriot Hotel voucher

For more information on the Tesco Rewards Club visit the Tesco website.

In theory, if a customer has built £10 of cashback, they could convert this into £10.50 worth of Tesco Clubcard vouchers. If they then exchanged this for a £30 Marriot Hotel voucher, or Goldsmiths jewelery voucher, the value of their original cashback would have trebled.

There is no minimum value that can be converted into points, so £1 cashback will be worth £1.05 in Clubcard vouchers.

Under Tesco Clubcard rules, a customer that spends £50 at Tesco they would earn 50 Tesco Clubcard points, worth 50p in Clubcard vouchers.

TopCashback is the first cashback website to give customers the opportunity to convert their cashback into Tesco Clubcard points.

For certain limited periods, Clubcard points can be doubled via the Tesco Clubcard Exchange and then spent on selected items, such as frozen food, flowers and beauty products.

The Clubcard Exchange is a promotion run on a periodical basis. Last year it ran from mid-August until the beginning of September, and usually returns once a year. 

Natasha-Rachel Smith, from TopCashback, said: 'Britain’s seeing consumers spending less but arguably getting more than ever for their money, especially now with a scheme of this nature in place. We’re thrilled to be pioneering a new wave of super-rewards, which we anticipate could be our members’ most popular payout method – even beating hard cash - by the end of 2013.'


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