Halifax Reward Account changing to £3 charge with “lifestyle rewards”

Fingerbobs

crumpet_man said:

Fingerbobs said:

I also get Cashback on my credit card, so avoid using debit cards unless I absolutely have to, which is rare. £500 of normal spend on my Halifax debit card would cost me £2.50 in lost cashback. 

Amex 1.5% cashback?  I thought they'd reduced it to 1.25% or is a different card you have?
You could always pay the credit card bill with the Halifax debit card.

0.5% Barclaycard.

It remains to be confirmed, but I strongly suspect that payments to a credit card will not count towards the £500 spend to trigger the reward.

crumpet_man

£500 spend on the Halifax debit card will get you £5, so how are you losing £2.50 by not using a 0.5% cashback card?  You would be up £2.50.

For the first month I may make multiple £500 purchases to ensure the reward is triggered, i.e. pay credit card bill, top-up starling, pay into savings account.  Hopefully, there will be some feedback on here as to which method worked for others.

colsten

crumpet_man said:

£500 spend on the Halifax debit card will get you £5, so how are you losing £2.50 by not using a 0.5% cashback card?  You would be up £2.50.

For the first month I may make multiple £500 purchases to ensure the reward is triggered, i.e. pay credit card bill, top-up starling, pay into savings account.  Hopefully, there will be some feedback on here as to which method worked for others.

Hopefully people will NOT trot out how they spent £500. It should be fairly obvious why not. This is a public forum.

Fingerbobs

colsten said:

crumpet_man said:

£500 spend on the Halifax debit card will get you £5, so how are you losing £2.50 by not using a 0.5% cashback card?  You would be up £2.50.

For the first month I may make multiple £500 purchases to ensure the reward is triggered, i.e. pay credit card bill, top-up starling, pay into savings account.  Hopefully, there will be some feedback on here as to which method worked for others.

Hopefully people will NOT trot out how they spent £500. It should be fairly obvious why not. This is a public forum.

I don't see how anyone would find out which specific "purchases" qualify without risking their reward payment anyway.

I personally highly doubt that any MCC6012 transactions would count, but I wait to be proved wrong.

TOP_CAT

Lots of hurdles with the new terms and conds which is causing all the ... ifs ,whats, wheres and whys and understandably so  .
After 12 months halifax has said something about reviewing this account offer as well so im not sure what that means exactly and can only make assumptions.

Personally I think part of it is a purge of the old school once and for all and a test to see if the new terms attract and hold more customers ?
Which seems doubtful imo 

The new terms and conds only suit a a certain higher level of income/expenditure  but those punters are not "so focused" on a  free fiver .
So I would bet even Halifax has to evaluate if all the hoops people have to jump through are losing them customers or gaining them customers after 12 months thats my thoughts and also that it will  likely change again.
Nothing they ever do is for our benefit .

 I think the large majority of customers are not interested in a maze of terms to meet each month for a fiver over what we have had in the past  .
I cant see this new account working out for Halifax but thats just my opinion .
The  review  in 12 months term is so they can test it ....unfortunatel during a world wide pandemic probably isnt the best timing when people need stability .

Ed-1

TOP_CAT said:

Lots of hurdles with the new terms and conds which is causing all the ... ifs ,whats, wheres and whys and understandably so  .
After 12 months halifax has said something about reviewing this account offer as well so im not sure what that means exactly and can only make assumptions.

Personally I think part of it is a purge of the old school once and for all and a test to see if the new terms attract and hold more customers ?
Which seems doubtful imo 

The new terms and conds only suit a a certain higher level of income/expenditure  but those punters are not "so focused" on a  free fiver .
So I would bet even Halifax has to evaluate if all the hoops people have to jump through are losing them customers or gaining them customers after 12 months thats my thoughts and also that it will  likely change again.
Nothing they ever do is for our benefit .

 I think the large majority of customers are not interested in a maze of terms to meet each month for a fiver over what we have had in the past  .
I cant see this new account working out for Halifax but thats just my opinion .
The  review  in 12 months term is so they can test it ....unfortunatel during a world wide pandemic probably isnt the best timing when people need stability .

I don't believe Halifax are reviewing anything in 12 months. The lifestyle benefit is subject to renewal by the customer every 12 months though.

TOP_CAT

Could be just that and im reading into it more than is needed .
But how many  current account offers for a fiver or whatever in the past were subject to a 12 month renewal ?
Its more hoops to jump through that dont matter today but in 12 months they might .

Ed-1

TOP_CAT said:

Could be just that and im reading into it more than is needed .
But how many  current account offers for a fiver or whatever in the past were subject to a 12 month renewal ?
Its more hoops to jump through that dont matter today but in 12 months they might .

Club Lloyds has operated this way since 2014. Your lifestyle benefit (cinema ticket/magazine subscription/gourmet card etc.) is fixed for 12 months, after which you can change to a different benefit.

General_Grant

TOP_CAT said:

Could be just that and im reading into it more than is needed .
But how many  current account offers for a fiver or whatever in the past were subject to a 12 month renewal ?
Its more hoops to jump through that dont matter today but in 12 months they might .

Halifax is, of course, in same stable as Lloyds where the Club Lloyds current account is "renewed" annually when you can select a different lifestyle benefit.

TOP_CAT

I have a club lloyds  but that doesnt require a 500 spend each month or need to hold a balance .
It doesnt pay much except shopping rewards and cinema tickets and costs £3 if you dont fund the 1500 per month