Halifax Reward payment being cut

aj23_2

NoviceAngel wrote: »

My Nationwide flex direct is now over 12 months so the rate has dropped. I did manage to recommend a friend - I only have one lol

I do the 5% regular saver though, that!!!8217;s still worth doing. Virgin Money keep releasing a new issue of their regular saver every month or so and you can save £250 a month rate is only 2.25% but if your lucky enough to have regular savings to drip feed them, it!!!8217;s worth doing.

I agree though, not much out there for us savers at the mo.

I'm thinking of switching back to Nationwide Flexdirect in November as it would have been 13 months since I was last with it, so qualify for 5% again. So I'll let you know and maybe you can recommend me!

Also, if there's a rate rise, it's possible Nationwide, First Direct, HSBC, M+S etc may put their regular savers back to 6% (They should do, as they were 6% it was last at 0.5%, so they definitely should at least 0.75%)

Skippy13

aj23 wrote: »

I'm thinking of switching back to Nationwide Flexdirect in November as it would have been 13 months since I was last with it, so qualify for 5% again. So I'll let you know and maybe you can recommend me!

Also, if there's a rate rise, it's possible Nationwide, First Direct, HSBC, M+S etc may put their regular savers back to 6% (They should do, as they were 6% it was last at 0.5%, so they definitely should at least 0.75%)

It was longer than 13 months since I had a Flex Direct account and I only got 1% interest. I closed the account and put the money in my Flex Plus account instead.

aj23_2

Skippy13 wrote: »

It was longer than 13 months since I had a Flex Direct account and I only got 1% interest. I closed the account and put the money in my Flex Plus account instead.

I was told that once you're 5% term ends, you have to wait at least 12 months before you can have it again. I hope this still applies.

ValiantSon

aj23 wrote: »

I'm thinking of switching back to Nationwide Flexdirect in November as it would have been 13 months since I was last with it, so qualify for 5% again. So I'll let you know and maybe you can recommend me!

You can't get the 5% on FlexDirect again. They changed the terms on the account many months ago, so you only get the 5% once now. You will still have access to the regular saver, but the current account will only pay 1%.

aj23 wrote: »

Also, if there's a rate rise, it's possible Nationwide, First Direct, HSBC, M+S etc may put their regular savers back to 6% (They should do, as they were 6% it was last at 0.5%, so they definitely should at least 0.75%)

They might, but I'd be surprised.

There's no should about it. They will offer whatever rate they believe is sufficient to attract the business they want. The link with the BoE base rate is not as direct as people often think.

Flobberchops

Booooo!

First I get a letter saying my 3.5% HTB ISA rate is dropping to 2.25%, now I'm £12 a year worse off from their rewards too.

Mark Bl**dy Carney just needs to pull his finger out and set the base rate to 5% like it's supposed to be.

aj23_2

Flobberchops wrote: »

Booooo!

First I get a letter saying my 3.5% HTB ISA rate is dropping to 2.25%, now I'm £12 a year worse off from their rewards too.

Mark Bl**dy Carney just needs to pull his finger out and set the base rate to 5% like it's supposed to be.

I'm lucky that Santander has kept their Help to Buy ISA rate at 4% since I opened in April 2016.

Mark Carney is useless, I agree.

KTF

I was busy battling with Santander to get the DD setup on my Halifax and BoS reward accounts but it really isn't worth the effort now.

takman

NoviceAngel wrote: »

C advance account! Credit score at 988 on Experian so I was shall we say somewhat annoyed

Someone with as many posts as you on this forum should know not to pay attention to any Credit Score provided by a company that doesn't give credit and isn't seen by any lender!

NoviceAngel

takman wrote: »

Someone with as many posts as you on this forum should know not to pay attention to any Credit Score provided by a company that doesn't give credit and isn't seen by any lender!

Yeah I know, I was quite surprised when they refused the application, they are not daft, my application got ‘referred’ initially and one check of my credit file shows new current accounts opened and closed twelve months later, so they knew why I had applied for the account. Credit where credit is due, they spotted it :T

Don’t get me wrong I would have been a loyal customer for at least 12 months :rotfl:

You can’t win them all.

photome

ValiantSon wrote: »

Yes, but you wouldn't get travel insurance, which you said was the main reason for having the Ultimate Reward account. This is what colsten was saying.

Of course, at a cost of £180 per year that's pretty expensive travel insurance!

ValiantSon wrote: »

Thanks for clarifying. I was just going off what colsten had written.

think he was talking about the flex account , I corected my second post to the flex plus account., which I had already checked does give yearly worldwide policy



a yearly worldwide policy that covers the USA isnt cheap, when i last looked i couldnt get the same cover for less but that was when the charge was £12 a month, plus of course there are a couple of other benefits