Tesco has today agreed to MoneySavingExpert.com’s call to implement a period of grace for loyal Tesco Clubcard customers, whereby the value of reward tokens that were moved from 4x to 3x without notice, will be moved back to 4x. Full details on the grace period will follow but Tesco have told MSE this is "likely" to last until 10 June.
This victory comes after MoneySavingExpert.com founder Martin Lewis yesterday called on Tesco to “urgently review its policy” to allow those loyal customers who’d saved up to still redeem points at the prior value.
Martin Lewis said: “Having been lobbying for 24 hours, I’d put in a call to ask to speak to someone senior at Tesco – preferably the Chief Exec – to try and see if we could get it sorted.The issue here isn’t the change in itself, Tesco has every right to do that, but the fact it was implemented without notice – that was unfair and left many people missing out on £50 or more.
“Instead of putting someone senior on the phone though, we got the even better news that it was agreeing to our request. Tesco had seriously misjudged the mood here, especially as by definition those hardest hit were its most loyal customers.The fact it has back tracked is good news for its customers, and for its own reputation, as many were talking about changing where they shop after this.”
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About Martin Lewis: Martin Lewis OBE, Money Saving Expert, is the journalist and consumer campaigner who created MoneySavingExpert.com and is now the site’s Executive Chair. Martin also founded and chairs the Money and Mental Health Policy Institute charity.
He’s the UK’s most-googled man, Citizens Advice’s Consumer Champion of the Year, and has spearheaded major financial justice campaigns including bank charges reclaiming (over seven million template letters downloaded), PPI reclaiming (over six million) and a successful large-scale campaign to get financial education in schools. He has his own prime-time ITV programme, The Martin Lewis Money Show, as well as a range of other regular media slots. He was appointed OBE in the Queen’s Birthday Honours in June 2014.
About MoneySavingExpert.com: MoneySavingExpert.com is dedicated to cutting consumers’ bills and fighting their corner. The free-to-use consumer finance help resource aims to show people how to save money on anything and everything, and campaigns for financial justice. It was set up in 2003 for just £100, and its free-to-use, ethical stance quickly made it the UK’s biggest independent money website, according to internet ranking site Alexa.com, and the number one ‘Business and Finance – Business Information’ site, according to Hitwise. It has more than 12 million people opted-in to receive the weekly MSE’s Money Tips email, and more than 16 million unique monthly site users who visit more than 28 million times a month. In September 2012, it joined the MoneySupermarket.com Group PLC.