Double cashback! Will this work?

nh

I currently have a Morgan Stanley cashback card (1% cashback for first £2k then 0.5% for the rest) but wanted to switch over to the new Halifax moneyback debit card (1% cashback).

My problem was that I would spend on the Morgan Stanley card, then pay it off in full when I got paid on the last day of the month ie. I don't actually have the money at the time I spend it.

So how can I use the debit card when I don't actually have the money in my account?

Well, could I use the Morgan Stanley card (I am trying to get Amex but their website keeps telling me they cannot accept online applications at the mo and I haven't got round to ringing them yet) and then pay it off using the Halifax card?

And would the Halifax payment count as a normal debit card payment and therefore give me the 1% cashback (on top of the 1%/0.5% Morgan Stanley will have already given me?

nh

I have just found my answer - no!

http://www.halifax.co.uk/bankaccounts/impinfo.shtml#moneyback

Any other way I could get round this other than actually putting the cash into the moneyback account before use the card?

Or I could just get the Amex and then I would get the same cashback (more for the first three months) so it wouldn't matter. Must get that phone call made - why is that you always feel more inclined to do these things while at work (where I am now)?

I am still using the Halifax card for some transactions though (the ones I would normally use my other debit card for!) but this predicament has been doing my head in for weeks.

Milarky

From the Halifax:

Halifax moneyback Current Account
Moneyback is only available on debit card purchases. 'Debit card purchases' means goods and services bought using the card or card account number. The following debit card transactions do not qualify for moneyback - obtaining cash, foreign currency or traveller's cheques, the settlement of credit card bills, wire transfers of money orders, the purchase of stocks and shares.

The obvious way to use a debit card to boost your cash flow through the account is to ask for 'cashback' in addition to all goods and services you actually buy. But the way such transactions are processed probably won't allow you to 'disguise' them.

I don't think this account is to be recommended because of all the conditions on its use

BTW, has anyone found things on which they could get credit card cashback which are excluded from the 'moneyback' account's terms? [I doubt it]

nh

Milarky wrote:

I don't think this account is to be recommended because of all the conditions on its use

Really? What conditions? I agree you should maybe not rush into transferring your whole bank account there, but I am not using it as my main account, I am just transferring £1k into it every month, paying off my credit card (£550 a month) and leaving the rest to pay for meals etc when we go out (currently we use the Barclays connect card which gives us 0% cashback).

Surely that is the way to make the most of it, I just would have liked to have got my supermarket/petrol purchases (which currently go on the Morgan Stanley card) on to it too but as I don't have the money up front this is impossible!

What do you mean by 'asking for 'cashback' in addition to all goods and services you actually buy'?

Do you mean paying bills such as electric and gas? Would that benefit from the cashback?