Yahoo Finance Martin Lewis issues Tesco Clubcard warning as £15m of vouchers set to expire
More than £15m worth of unused Tesco (TSCO.L) Clubcard vouchers are set to expire on 31 May – so it's worth checking if you've got any in the bank.
Financial expert Martin Lewis told ITV viewers: "On May 31, £15m of Tesco Clubcard vouchers go because they only last two years. So, go online or on the app and check whether you have any of these vouchers.
"It is worth noting that currently you can trade a £5 voucher for £15 of rewards, from June it is going to double. Although, if you trade them in now, it is valid for a year.”
Under the current rules, shoppers have two years to spend their Clubcard points once the voucher has been issued. The vouchers set to expire on May 31 were first issued in May 2021.
Customers unsure of when their vouchers expire can check the date on the voucher themselves if they still got them in paper format.
Read more: Tesco slashes the price of 30 items in latest round of cuts
Shoppers that have lost their paper vouchers or are unsure if they have anything to redeem, can check on the Tesco Clubcard site or app.
Lewis also shared a top tip for shoppers with vouchers. “I have a trick for you to extend the life of your voucher,” he said.
“Go online, log in and spend say 50p on a restaurant voucher, if you spend a little bit of the voucher the rest of hit is reissued or another two years."
Tesco loyalty director Tash Whitmey said the Clubcard scheme can potentially save shoppers up to £351 a year.
“We want to help customers’ household budgets stretch further right now and Clubcard is the best way to get great value with Tesco – from Clubcard Rewards to thousands of exclusive deals through Clubcard Prices, which could potentially save shoppers up to £351 a year,” she said.
Read more: Inflation: Supermarket meat, yoghurt and vegetable prices doubled in a year
“And with more than £15m worth of Clubcard vouchers due to expire at the end of May, we’re reminding customers to spend them to help with the shopping budget. Tesco Clubcard has the biggest and most generous Reward Partner scheme, so customers can also choose to use their vouchers to give themselves and their families a well-deserved treat.”
As well as Clubcard savings, Tesco recently announced a further price lock until July on more than 1,000 staple products in its Low Everyday Prices range.
Watch: Tesco warns of 'unprecedented' inflation but drops price of milk
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