Barclays Blue Rewards

polymaff

Steve_xx wrote: »

You still end up with just £4 no matter how you like to state it!

... or end up with somewhat less than £4 after HMRC have had their pound of flesh

book12

Steve_xx wrote: »

You still end up with just £4 no matter how you like to state it!

How?

£3 deducted from bank account, then £7 in the rewards wallet.

So that means the styff the staff told me is misleading?

Steve_xx

book12 wrote: »

How?

£3 deducted from bank account, then £7 in the rewards wallet.

So that means the styff the staff told me is misleading?

Never believe anything that bank staff tell you, without verifying it within the terms and conditions. Bank staff today often aren't as bright as once they seemed to be.

If you make a call to a bank on two occasions asking the same question, invariably the response you get will vary!

grumbler

book12 wrote: »

How?

-3+7=4

£3 deducted from bank account, then £7 in the rewards wallet.

So that means the styff the staff told me is misleading?

I don't see anything misleading.

carmina_piranha

book12 wrote: »

How?

£3 deducted from bank account, then £7 in the rewards wallet.

So that means the styff the staff told me is misleading?

You get the full £7, but you've had to pay a £3 account fee which you wouldn't have paid if you didn't have this account. So it has cost you £3 to get the £7, so you are in profit by £4.

anoncol

7-3=4.

£4 profit.

book12

But in the rewards wallet it will show the £7 in the transaction history...

Steve_xx

book12 wrote: »

But in the rewards wallet it will show the £7 in the transaction history...

That's due to the fact that the "reward" element is, wait for it, £7!

Just for clarity, there is a £3 monthly charge for having the account. For further clarity, they'd likely take the £3 monthly fee, ie the charge for having this account, whether or not you fulfilled the criteria for earning the £7 reward.

polymaff

Is the question being batted around here, what goes on the tax return?

The expenditure of £3 is a necessary condition of receiving the £7, so the taxable element is £4 per month gross?

carmina_piranha

polymaff wrote: »

Is the question being batted around here, what goes on the tax return?

The expenditure of £3 is a necessary condition of receiving the £7, so the taxable element is £4 per month gross?

I wondered that too.

I do self assessment. I don't earn enough for it to be an issue, but I wondered if the £7 had to be declared, rather than the £4?