Changes to Reward and Ultimate Reward Accounts

YorkshireBoy

anna42hmr wrote: »

Does any one know if this will affect the Halifax clarity rewards credit card as well.

Short answer is no.

Longer answer is on the credit card board where you asked the same question.

If I do not add standing orders

Not that its necessary in your case, but you'd need to add DDs not SOs.

anna42hmr

thanks for your help.

i have ended up transferring some dd's over however, not sure will meet the requirements as one part of the changes indicate only need two direct debit mandates, and another part indicates they need to be paid monthly. However, as I have moved back home with my parents, very few of my dd's are monthly as no bills as such as pay my parents via so instead. the dd's i have therefore are for credit cards and the payments will be claimed via dd only if there is a spend on them.

if there has to be two paid each month, then i doubt i will get the £5's, if its just two active mandates (paid or not each month) then i should be ok. will just have to wait and see what happens when the changes take affect in May.

worse case senario, if they dont pay out, will just move the dd's back to the account they are paid from now and be happy that i managed to make £15 a month for the last couple of years!)

i've transferred 2 credit card dd's to each account that are taken ad hoc depending on when/if i use the cards and have also called a couple of theatres etc i have friends memberships for to ask them to send new direct debit mandates (membership taken annually) so will see if that means i qualify.

LittleVoice

anna42hmr wrote: »

thanks for your help.

i have ended up transferring some dd's over however, not sure will meet the requirements as one part of the changes indicate only need two direct debit mandates, and another part indicates they need to be paid monthly. However, as I have moved back home with my parents, very few of my dd's are monthly as no bills as such as pay my parents via so instead. the dd's i have therefore are for credit cards and the payments will be claimed via dd only if there is a spend on them.

if there has to be two paid each month, then i doubt i will get the £5's, if its just two active mandates (paid or not each month) then i should be ok. will just have to wait and see what happens when the changes take affect in May.

worse case senario, if they dont pay out, will just move the dd's back to the account they are paid from now and be happy that i managed to make £15 a month for the last couple of years!)

The wording seems clear to me - the DDs have to be paid in the month if a £5 is to be earned. If you have the CCs, why not spend a small amount on each so they do take a payment. Self-service tills at supermarkets are a non-embarrassing way to spend smallish amounts on a card.

anna42hmr

LittleVoice wrote: »

The wording seems clear to me - the DDs have to be paid in the month if a £5 is to be earned. If you have the CCs, why not spend a small amount on each so they do take a payment. Self-service tills at supermarkets are a non-embarrassing way to spend smallish amounts on a card.

thanks that is a good idea, think i will give it a go. some of my credit cards arent used that often as have another purpose (ie two a no foreign charges when abroad etc) but i suppose nothing stopping me using them more often, just feel silly paying on card for below a certain amount, but thats not a bad idea at the self service tills!

Steve_xx

I've just opened a Bank of Scotland classic bank account and added Vantage to it. Then I noticed the following, which seems to indicate that 3% interest would be attainable on balances upto 7k? I've copied and pasted this:

The benefits:

Continue to get all the benefits of the Classic Account along with added benefits of Vantage's higher credit interest on balances up to £7,000.
To get this you need to:

• Pay in £1,000 a month, e.g. your salary
• Stay in credit each month

WRabbit

Steve_xx wrote: »

Continue to get all the benefits of the Classic Account along with added benefits of Vantage's higher credit interest on balances up to £7,000.

Those are the old Vantage limits and they're incorrect. I told BoS about this on the phone on Monday. BTW if you've opened the acount online their flawed system treats this as a refresh of your phone numbers. So you'll ge unable to setup new payments for 7 days as you can't complete phone verification.

You will get £40 when you complain though.

Steve_xx

WRabbit wrote: »

Those are the old Vantage limits and they're incorrect. I told BoS about this on the phone on Monday. BTW if you've opened the acount online their flawed system treats this as a refresh of your phone numbers. So you'll ge unable to setup new payments for 7 days as you can't complete phone verification.

You will get £40 when you complain though.

Yes I opened it online. Messed about with all the setup process and then noticed that this new account has appeared alongside my existing Halifax accounts. I thought this would happen. so I reckon I now will see the BoS account if I used my existing Halifax login details.

innovate

Yes, BoS account appear when you log into your Halifax online banking. I just use my Halifax login - handy not to have to remember more login data.

YorkshireBoy

innovate wrote: »

Yes, BoS account appear when you log into your Halifax online banking.

...making it so much easier to do the monthly £1,000 merry-go-round.

Or maybe we shouldn't be doing that from now on?

Steve_xx

YorkshireBoy wrote: »

...making it so much easier to do the monthly £1,000 merry-go-round.

Or maybe we shouldn't be doing that from now on?

Well now, the BoS demands 1k a month to go through it. Yet the new rules for the Halifax accounts will only need £750 fed through them. I think I'll stick to 1k for the lot to save confusion.