Changes to Reward and Ultimate Reward Accounts

Steve_xx

adidas wrote: »

Thanks for your reply. So you can have 2 in a single name is what you're saying Steve. Or a joint and a single? Yes innovate it wouldn't be worth the hassle as I don't have a joint account. Thanks YorkshireBoy - I thought you needed direct debits not standing orders to qualify for the account?

It's one account in a single name.
or
One account in a single name and another in a joint name
or
Two accounts in joint names

adidas

Yorkshire boy- thanks. I thought it was 2 DDs for the £5 reward. And thanks Steve.

Gromitt

adidas wrote: »

I thought it was 2 DDs for the £5 reward.

Correct, but you don't need to switch 2 DDs for the £100 incentive. You can simply set them up once the account is open.

nad33m

I just applied for a Clarion Hallifax Credit card, just before I clicked the confirm button there appears a page of 'agreement' text, in there it states: "if you have a reward account you will need to spend £300 a month on your credit card to carry on receiving £5 reward". I cancelled the application for the credit card as soon as I read that.


How can Hallifax sneak that into any new applications of credit cards? The two things are not linked, I mean what has my credit card application got to do with my reward current account?

nad33m

Thanks Old Wrinkly. I will have to re-check. (I wish I had copied the agreement, will have to make a new application and find out exactly)


From what I read the agreement specifically mentioned "if you have an existing reward current account, you must pay £750 a month and have 2 direct debits, and in addition you must spend £300 on your credit card to receive a £5 reward per month".


Why I think they are talking about my reward current account £5 is the fact they mention it at all in the application for a separate credit card.


If you are correct then £5 in my reward, plus £5 if I spend £300 a month on the credit card is a good offer. I'm sure it would be plastered all over the website on the credit card benefits, but its not mentioned at all.


Be wary on opening any new accounts or credit cards, check they do not sneak in an agreement that effects your £5 reward, I would advise.

nad33m

Does anyone get £5 reward from their credit card, and £5 reward from their current account? Now i'm confused


Posting the agreement:


11 REWARD PAYMENT 11.1 If you meet the requirements set out in condition 11.2, then for any statement period in which you:- (a) make at least £300 of Purchases (once any Purchases refunded in that period have beend deducted);
(b) stay within your credit limit; and
(c) make your minimum monthly payment;
you will qualify for a £5 credit to your account in the following month. The credit will not be treated as a payment to your account under these conditions.
11.2 To be eligible for the reward set out in condition 11.1, you must, at the time you enter into this agreement:- (a) hold a Halifax current account and pay in £1,000 or more each month;
(b) use our switching service to move your current account to a Halifax Current Account and agree to pay in £1,000 or more each month;
(c) open or hold a Halifax Ultimate Reward Current Account.

opinions4u

You've misunderstood.

The Clarity Reward Credit Card pays an additional £5 a month if you spend £300 a month or more on the credit card.

Failure to do so will not affect your current account in any way. You just won't earn the additional fiver.

Old_Wrinkly

The T&Cs do seem a bit out of step.

The terms for the Clarity Credit Card :
https://www.halifax.co.uk/creditcards/low-rate-no-fee/clarity-card/terms/
(which includes the Section 11 bit referred to by nad33m above)
has the word 'Draft' prefixed to it, but certainly mentions £1000 per month you are required to put into your current account - to get the credit card £5.

But the amount of deposit needed to get the £5 specifically for your Reward Current Account is only £750 monthly.

If (as is probably the case with most people) more than £1000 is going in each month, then it doesn't make any practical difference, but it does seem odd to have different figures involved.

jennifernil

We have Reward accounts and Clarity Credit cards each, we get £5 in each reward account plus £5 in each Clarity account if we spend £300 using the cards, but we do pay in more than £1000 per month (pensions etc) anyway, so not sure whether the requirement is £1000 or only £750 now.

I would check with Halifax, assuming you can get through to somebody that actually knows!!

YorkshireBoy

jennifernil wrote: »

I would check with Halifax, assuming you can get through to somebody that actually knows!!

It isn't worth the risk (of getting duff information)!

The T&Cs will answer the question, as they always do! Those currently on their website (and section 11 hasn't changed since launch?) say £1K, so unless people have been sent a notice of variation saying it's now £750 (or whatever), then that's what it is...£1K.

For many people who are doing the monthly merry-go-round of £1K transfers (myself included), they may find its easier to keep them all at £1K, rather than £750 for the Reward, £750 for Nationwide FlexAccount (for the free travel insurance), and £500 for the Santander 1-2-3, etc.