Curve 'all-in-one' debit card launches new cashback scheme, but is it any good? - MSE News

Herbalus

Zero_Sum wrote: »

So in theory, i could get a cashback CC. Then make a massive payment into a savings account by a curve debit card but the money comes off the credit card as a payment so i get the cashback. Then keep money earning interest for a month pay off credit card in full (by tesco debit card to possibly get club card points)

And repeat every month. So with 0.5% credit card cashbsck would be 6% annualised (as would be sloshing same cash about) add in an annualised 1.5% on clubcard points add in say 1.25% on when cash sits in easy access account (im taking off a bit from the top 1.5% as will lose a few days waiting for payments to clear)
Resulting in a nice 8.75% return on someone elses money.

Anyone done this & does it work??

Why bi-monthly? Why not go the whole hog and pay your credit limit into your savings account every Monday to gain 0.5%, and then repay the credit card every Thursday with your tesco debit card.

That way you get 52 weeks worth of 0.5% multiplied by your credit limit, and the same transaction level of club card points. That's 26% plus points.

Zero_Sum

Herbalus wrote: »

Why bi-monthly? Why not go the whole hog and pay your credit limit into your savings account every Monday to gain 0.5%, and then repay the credit card every Thursday with your tesco debit card.

That way you get 52 weeks worth of 0.5% multiplied by your credit limit, and the same transaction level of club card points. That's 26% plus points.

Just had a look at T&C's at it appears they take a very dim view on cash recycling so looks like a bit of a no goer

crumpetman

Which banks let you deposit via debit card payment? Starling allows £250 per day but only on older accounts. I don't think I have seen this facility on any of my other bank accounts.

Tesco debit card should not accrue clubcard points for paying credit card bills, I have tried it on mine and it didn't work. It did work for payments to a couple of investment websites.

Zero_Sum

crumpetman wrote: »

Which banks let you deposit via debit card payment? Starling allows £250 per day but only on older accounts. I don't think I have seen this facility on any of my other bank accounts.

Tesco debit card should not accrue clubcard points for paying credit card bills, I have tried it on mine and it didn't work. It did work for payments to a couple of investment websites.

Not banks but online savings accounts.
Post office & Yorks BS online savers offer that option
There is also the option of depositing into Ratesetter cash holding account, then withdrawing

Paying off credit card, i didnt think it did accrue points but another poster said they did with their amex & barclay card. I tried with my PO CC & didnt work, going to try with my barclaycard

Fingerbobs

Zero_Sum wrote: »

Not banks but online savings accounts.
Post office & Yorks BS online savers offer that option
There is also the option of depositing into Ratesetter cash holding account, then withdrawing

Also NS&I Direct Saver allows deposits by debit card.