Halifax rewards £5 a month

Tazni

So if anyone banks with Halifax, it might be worth considering getting a rewards card!


Basically if you pay £1000 into the account a month, you get £5, but just because you might not be earning that much doesn't mean you can't still get the bonus if you just shuffle your money around online.

At the end of each month I shift £1000 from another account into my rewards card overnight, and move it back the next day. Because you've put £1000 into the account, you get the £5 in the next few days after tax. Over a year that can add to an extra £60 in your pocket... every little helps

dr_adidas01

I think you mean Halifax rewards account where you get £5 if you pay in £1k a month.

This is old news and many MSE's do this myself included!!!

Gromitt

If you applied for it earlier, you could have got in excess of £200/year, as before Halifax restricted it, you could have got multiple reward accounts and got £5 on each one.

Also, don't forget you'll get another £5/month for spending £300/month on the rewards credit card.

and if you have a spouse, they can claim the £5, plus you can have a joint account also getting £5. That's £20/month.

Of course, higher rate tax payers will get less and non tax payers will get £6.25.

pinkdalek

You can also have a sole Reward account for you and one for your partner which you fund with >£1k each month. Either your salaries or revolving monies.

You then have their Ultimate Reward account as a joint account (to maximise on the benefits), pay in £1k per month and it costs you £10. You then use the £10 from the two reward accounts to pay for the fee, therefore getting the benefits scott free.

You could still technically hold a joint reward account and gain another £5.

anamenottaken

Gromitt wrote: »

Of course, higher rate tax payers will get less and non tax payers will get £6.25.

Non-tax payers get the extra £1.25 only if they claim it from HMRC, Halifax pay £5 regardless of tax status.