Barclays Blue Rewards

Steve_xx

ColdIron wrote: »

I am not so sure about this

If you apply today, when they check on 1/5 you won't have satisfied the DD requirements but neither will you have paid the £3 in the previous month

If you start after 1/5, when they check on 1/6 you may have satisfied the DD check but still not the monthly fee in the previous month so won't get the £7 then either

If however you start today they will deduct the £3 on 1/5 and you will be rewarded for it on 1/6

In essence you will be rewarded in arrears so you might as well start now

That's how I read it but am happy to be corrected

Yes yes, as you say they'll take £3 on 1/5 and reward me for it on 1/6, but, on the 1/6 they'll take another £3 - therefore I'm only £1 ahead of the game at that point? Whereas if I hang on until 1/5 before joining they wont take the first £3 until 1/6 and I'll have satisfied the criteria to get the £7 on 1/6 so I'll be £4 up on the game then - I reckon. But like you, I could be wrong.

Ed-1

Steve_xx wrote: »

...and I'll have satisfied the criteria to get the £7 on 1/6...

Will you though as to have satisfied the criteria on 1/6 on that interpretation of the terms you'll need to have had the fee taken on 1/5 which as you say won't happen if you join on 1/5.

Nicholas

Steve_xx wrote: »

Yes yes, as you say they'll take £3 on 1/5 and reward me for it on 1/6, but, on the 1/6 they'll take another £3 - therefore I'm only £1 ahead of the game at that point? Whereas if I hang on until 1/5 before joining they wont take the first £3 until 1/6 and I'll have satisfied the criteria to get the £7 on 1/6 so I'll be £4 up on the game then - I reckon. But like you, I could be wrong.

No, because they take the £3 on the FIRST working day of the month, therefore if you join after the 1st, they won't take the £3 until 1st June and you will have to wait until 1st July to get £7 back

ie you will always be paid a month in arrears.

I have already paid in £800 this month and 2 direct debits are set to come out on the 29th of this month, but as they have not taken the £3, I will not get anything back until 1st June

Ed-1

Nicholas wrote: »

No, because they take the £3 on the FIRST working day of the month, therefore if you join after the 1st, they won't take the £3 until 1st June and you will have to wait until 1st July to get £7 back

ie you will always be paid a month in arrears.

I have already paid in £800 this month and 2 direct debits are set to come out on the 29th of this month, but as they have not taken the £3, I will not get anything back until next month

Basically we need clarification if the fee taken on the working day following the calendar month will still generate the reward payment for the previous month. The terms, as written, indicate that the fee must have been paid in the previous calendar month so the fee taken as part of the reward payment/checks won't relate to that reward payment, but it could be just more sloppy wording from Barclays.

Ed-1

Nicholas wrote: »

I have already paid in £800 this month and 2 direct debits are set to come out on the 29th of this month, but as they have not taken the £3, I will not get anything back until 1st June

I guess time will tell to find out for sure if we are interpreting the terms correctly. On that basis the first Blue Reward payments will be paid out on 1st June at the earliest.

Nicholas

Ed-1 wrote: »

Basically we need clarification if the fee taken on the working day following the calendar month will still generate the reward payment for the previous month. The terms, as written, indicate that the fee must have been paid in the previous calendar month so the fee taken as part of the reward payment/checks won't relate to that reward payment, but it could be just more sloppy wording from Barclays.

It states that all 3 things have to happen in the same calender month ie Pay £3 fee, pay in at least £800 and pay out at least 2 DDs.

Seem pretty clear to me:)

Quote:

"It takes just a few moments to join Barclays Blue Rewards. Just choose a suitable account and meet these conditions each month:

Pay in at least £800
Pay out at least 2 Direct Debits
Paid your £3 monthly fee"

ColdIron

Ed-1 wrote: »

Will you though as to have satisfied the criteria on 1/6 on that interpretation of the terms you'll need to have had the fee taken on 1/5 which as you say won't happen if you join on 1/5.

Precisely, the thing to get your head around is that you are charged in one month and rewarded in arrears at the start of the next month

In Steve_xx's example

May
Pay no fee (critically)
Get no reward
Pay DDs

June
Pay £3 fee
Get no reward because you paid no fee in the previous month although you did pay DDs
Pay DDs

July
Pay £3 fee
Get £7 reward because you paid fee and DDs in the previous month
Pay DDs

All you've done is put off the reward for a month

For clarity, if you start now

April
Pay no fee
Get no reward
Pay no DDs

May
Pay £3 fee
Get no reward because you paid no fee or DDs in the previous month
Pay DDs

June
Pay £3 fee
Get £7 reward because you paid fee and DDs in the previous month
Pay DDs

Ed-1

Nicholas wrote: »

It states that all 3 things have to happen in the same calender month ie Pay £3 fee, pay in at least £800 and pay out at least 2 DDs.

Seem pretty clear to me:)

How they've worded their terms and whether their systems have been programmed on the same wavelength are 2 different matters though.

e.g. Halifax's terms for their reward say that you need to have paid in £750 in the previous calendar month and had 2 direct debits taken, but in my experience (before they blocked my accounts!), it would still generate the reward payment if you met the conditions in the monthly billing period (i.e. before the 2nd working day of the following month) even if you didn't in the calendar month.

Nicholas

Ed-1 wrote: »

I guess time will tell to find out for sure if we are interpreting the terms correctly. On that basis the first Blue Reward payments will be paid out on 1st June at the earliest.

That's the way I am reading it.

From my point of view, wish they had taken £3 the day I joined, and then I would have started to get £7 back in May.

Nicholas

Ed-1 wrote: »

How they've worded their terms and whether their systems have been programmed on the same wavelength are 2 different matters though.

e.g. Halifax's terms for their reward say that you need to have paid in £750 in the previous calendar month and had 2 direct debits taken, but in my experience (before they blocked my accounts!), it would still generate the reward payment if you met the conditions in the monthly billing period (i.e. before the 2nd working day of the following month) even if you didn't in the calendar month.

That's because a calender month for Halifax starts on the 2nd of the month and ends on the 1st of the following month.