For those that collect Tesco Points......................

Warning: Tesco Cut Clubcard Rates

Your Tesco Clubcard points will soon be worth less so you need to act fast if you don't want to miss out. Here's what you need to know.

At the moment you can quadruple the value of your Tesco Clubcard points by swapping them for Tesco Rewards. You also earn 1 Clubcard point for every £1 you spend on fuel.

However, this is changing for the worse in the very near future.

What is changing?
From 6th December 2010 the exchange rate for Tesco Rewards is going to drop.

Instead of being able to quadruple the value of your Clubcard points by trading them for Rewards, you'll only be able to triple the value instead.

So while you can exchange a £2.50 Clubcard voucher for £10 to spend on Rewards now, from the 6th of December 2010 the same amount will only get you £7.50.

The amount of Clubcard points you'll get when you buy fuel is also being halved.

From of the 1st of November you will earn just1 Clubcard point for every £2 spent at the pump rather than the 2 points you currently get.

So what do I need to do?
If you don't want to lose out then you need to make sure you exchange your Clubcard points for Rewards by the 5th of December 2010.

This way you will still get to quadruple the purchase power, and the value of your points.

Unfortunately, the only way to keep on earning 1 Clubcard point for every £1 you spend on petrol from November is to pay using a Tesco credit card. This isn't going to be realistic for everyone, but if you spend a lot on Tesco fuel it may be worth considering.

Is it all bad news?
No, Tesco has also announced it plans to extend it's double points scheme in store over Christmas meaning you can continue to earn more points on your shopping. Visit the Tesco Clubcard website for more information.

Don't get me started Dave! I got a clubcard to earn BA miles when my regular trips to Hungary stopped. However seeing as my folks work at Sainsburys, all the shopping is done there. But I fill the car up at Tesco as it's on the way home. So not only do I get less BA miles now, but I earn 50% less points too on fuel!

And still they make record profits

Thanks for the advice Dave. I will buy my next batch of Eurotunnel vouchers before then but they have a limited life.

Well that's annoying !

Thanks for the head up Dave. I have quite a few pinned to the notice board, need to get my ample derrière in gear and get them exchanged.