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Tesco Clubcard has announced that it will be devaluing its popular Reward Partner multiplier from 3x to 2x voucher face value. The change is scheduled to happen on 14th June 2023:

“From 14 June, when you exchange your Clubcard vouchers for a Reward Partner code, they’ll be worth up to 2x as much, not up to 3x the value, as they are now.

Tesco Clubcard continues to have the biggest and most generous Reward Partner scheme with access to over 100 Reward Partners at 2x your Clubcard voucher value. So you can still make great savings on everything from family fun, dining out, cinema trips and more.

The only slight silver lining is that if you cash your vouchers in before 14th June, your 3x reward partner codes will be valid for a year, rather than the standard 6 months.

“To give you extra time to decide when to use your Tesco Clubcard vouchers with Reward Partners, we’re extending the validity period on Tesco Clubcard Reward Partner codes ordered from 17 March until 13 June so that they’re valid for 12 months^†, rather than the usual 6 months. So don’t worry, there’s plenty of time to use them at their current value before we make the change”

Virgin Atlantic Conversions Devalued As Well

Unfortunately, Virgin points are also impacted by this devaluation.  Instead of the current £1 –> 250 Virgin points, you will only receive 200 Virgin points for every £1 of Tesco voucher converted.

According to HeadforPoints, this change will take place on 21 July, 2023.

Bottom line

This is a very significant cut to the value of the Tesco Clubcard scheme  – it doesn’t seem all that long ago that the reward partner multiplier was 4x!

Is Tesco Clubcard still worth bothering with, or will this change encourage you to shop elsewhere?