Changes to Reward and Ultimate Reward Accounts

adindas

If you have luxury of having several credit cards (CC), you could meet DDs requirement by switching your CC DD instructions you hardly use to meet the requirements.

I have been doing this many times to bag rewards from several high street Bank AC. Once I get rewards, I switch it again to another AC which offer the same incentive.

My personal experience switching CC DD instruction told me it is a very simple as one phone call will do.

This is a good reason why you should not never close your Credit Cards AC even you hardly use it. Better to ask to reduce the credit limit to a minimum, say £500 so though having many CCs you could still pass credit availability check due to low credit limits. The exception of course if there is a charge for low usage. But at the moment there are still very small CC apply this practice.

If we share good practice we could always beat the banks. are not we ;-))

innovate

adindas wrote: »

Which saving account could be funded by DDs

This link has been posted a trillion times already, so here we go with the trillion-and-first time https://forums.moneysavingexpert.com/discussion/4168667

adindas

innovate wrote: »

This link has been posted a trillion times already, so here we go with the trillion-and-first time https://forums.moneysavingexpert.com/discussion/4168667

thanks sorry for my ignorance As I have been following recently ...

shymanuk

hi just set up a tesco saver .... i take it i have to wait for log in details to be able to link other reward accounts to d debit ? or did i miss something when filling it in .

Mishomeister

billbennett wrote: »

Just a thought, but would it be easier than setting up savings accounts and whatnot, to just set up two small DDs to charity?

https://directdebit.macmillan.org.uk/defaultnew.aspx
and
http://www.wateraid.org/other/display/watercharity.php

seem to both let you choose your own amount.

Anyone knows if D/D can be set up with them for 1p ?

innovate

Mishomeister wrote: »

Anyone knows if D/D can be set up with them for 1p ?

As has been mentioned before, charities (like other organisations) need to pay for Direct Debit facilities. Each transaction costs them at least 50p. Decide for yourself whether you want to charge a charity.

Mishomeister

innovate wrote: »

As has been mentioned before, charities (like other organizations) need to pay for Direct Debit facilities. Each transaction costs them at least 50p. Decide for yourself whether you want to charge a charity.

That doesn't answers my question. There is also a minority of charities which some people might feel supporting what is in their opinion is a bad cause. I obviously don't mean children, cancer charities etc but rather some political movements you oppose for example or fighting towards legalizing things you are strongly against to be legalized. I would therefore not feel bad to have them charged.

Steve_xx

Mishomeister wrote: »

That doesn't answers my question. There is also a minority of charities which some people might feel supporting what is in their opinion is a bad cause. I obviously don't mean children, cancer charities etc but rather some political movements you oppose for example or fighting towards legalizing things you are strongly against to be legalized. I would therefore not feel bad to have them charged.

The risk is that the amount you offer is so small that the recipient may choose not to collect it, due to the cost to them of doing so.

innovate

Mishomeister wrote: »

That doesn't answers my question. There is also a minority of charities which some people might feel supporting what is in their opinion is a bad cause. I obviously don't mean children, cancer charities etc but rather some political movements you oppose for example or fighting towards legalizing things you are strongly against to be legalized. I would therefore not feel bad to have them charged.

You asked whether Wateraid and Macmillan would accept 1p DDs.

I replied politely. But if you want the answer straight in the face: I think it's plain disgusting to think of depriving either of these two for your personal gain.

So there.

paulnjulia

It was VERY good while it lasted, or is it still lasting. 78% interest on £1000 per year, after tax!! Blinking good show I says.

But, now Halifax is on to us, do we abide by the spirit of the thing or still milk it for all its worth!

Ok convinced, I'll set up a revolving £750 transfer through my accounts, I'll set up two typical DD from each account (Water, Council Tax etc) then I'll transfer appropriate amounts into the account the day before, then transfer all the £5s out on the 5th back to the accounts I send them to now. The excess accounts that will need dd will need to be planned for. Do they have to be DD or will a SO do? Although, perhaps I should look around for another bank to set DD's up to them. Anyway, if I can only keep 5 or 6 of my 13 reward accounts then its still 30% return!!

Moral of the story!

The banks are going to have to work harder for the same money!! Yippie!!