Halifax reward current account - worth keeping and cashback extras?

xyz123

Hi I have a Halifax reward current account which I don't use regularly. Now that the reward has dropped from £3 to £2 a month I am thinking if there is any advantage in keeping it?

One thing I was looking at was cashback extras but for last 8 weeks every time I log on it says "we are processing new offers for you so comeback later...".
So other question is are these offers generally any good? If so I can get in touch with them and see if there is any particular reason I can't see any offers
Thanks

Zero_Sum

Id just keep it & just keep enough in to cover 2 DD's. That way you're getting a very high rate of interest. Ive got 2 & only keep about £50 in each

xyz123

Zero_Sum wrote: »

Id just keep it & just keep enough in to cover 2 DD's. That way you're getting a very high rate of interest. Ive got 2 & only keep about £50 in each

What is this "high interest" that you refer to? As far as I know other than monthly reward of £2 and any cashback extras there is no other benefit

Ed-1

xyz123 wrote: »

What is this "high interest" that you refer to? As far as I know other than monthly reward of £2 and any cashback extras there is no other benefit

If you have a penny in your reward account and earn £2.50 (gross) reward every month that's equivalent to an interest rate of 300,000%!

No_6

@zero …
why keep £50 why not £5
reduce the DD's
?

Wheres_My_Cashback

Zero_Sum wrote: »

Id just keep it & just keep enough in to cover 2 DD's. That way you're getting a very high rate of interest. Ive got 2 & only keep about £50 in each

No need to keep any funds in there at all. My closing balance every day is zero. I just move funds by 1430 (cut off time) to cover the DD on the day the DDs are taken.

Zero_Sum

No_6 wrote: »

@zero …
why keep £50 why not £5
reduce the DD's
?

It covers my DD's just incase for any reason im unable to transfer money to account in time (or i just forget)

r2015

I have 2 DDs from 2 credit cards and buy 4 pints of milk costing £1.09 with each once a month.

I will have to reduce it to 2 pints costing 79p now.

I was going to close that account as well but it's free milk.

I do have other credit cards one of them a Nationwide cashback card for all my other spending.

And I don't have to bother about transferring money into it.

PRAISETHESUN

If you don't need the DDs to fund another current account's rewards then I'd say just leave it set up with a minimal balance. For basically no effort on your part, £2 per month is still better than £0.

Willing2Learn

I closed my Reward account when it dropped to £2. It just didn't seem worth the effort of transferring in/out £750/month. Opened up a Nationwide FlexDirect and Lloyds Club accounts instead.

Skippy13

I closed my account as I wanted to switch to Nationwide for the referral bonus. I'm wishing I hadn't though as I'm missing the cashback and the cheque clearing!