Thursday, 15 August 2013

Disaster! Potential End of VISA 3V Pre-Paid Cards!

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If you are unfamiliar with 3V cards then let me provide a brief explanation.


Tesco offer 150 Clubcard points (360 Avios) when you spend £50 in one transaction on gift cards. In May 2013 this was extended to VISA branded gift cards.


Most UK reward credit cards are American Express, and despite what their advertising says, American Express is not accepted everywhere. So, this new development meant you could pay with your American Express card and earn points or meet a spending requirement for a sign up bonus in places that don’t accept Amex but do accept VISA.


Then another development changed the game even more, National Savings and Investment (NS&I) allow customer to deposit into their savings accounts online using a debit card. This is true manufactured/churn spending. You could buy 3V cards in Tesco with an American Express, earn credit card points and Tesco Clubcard points, then deposit the funds into a NS&I savings, wait 7 working days, then withdraw the funds to a bank account, then repay the credit card.


I have a full explanation here.


 


Now I have explained 3V cards and why they are so lucrative to points-collectors, let me tell you the bad news. I hope you are sitting comfortably. I went to my local Tesco Superstore and stumbled upon a rack of 3v cards. However, when attempting to purchase the aforementioned prepaid cards I was told by the cashier, then store manager, that Tesco’s policy has changed. I could only purchase the cards using a debit card or cash, credit cards are not accepted any longer for VISA gift card purchases. They had received new instructions from head office over the weekend informing them of the policy change.


I hope this is a mistake on their part, or a local instruction affecting this one superstore, I will attempt to find more 3V cards elsewhere to find the truth.


If you have had a similar experience then please write in the comments box below or email me at georgethetravelmonkey[at]gmail.com


 


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