Chase UK discussion

k_man

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

I don't think the two are mutually exclusive. A thing based on hearsay, may still be true.

We are, however, at risk of entering a semantic discussion rabbit hole.

So how about:

Aside from the potential (albeit unsubstantiated) risk of account/benefit suspension....

It is still not worth it, and isn't free round ups!

RG2015

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

I don't think the two are mutually exclusive. A thing based on hearsay, may still be true.

We are, however, at risk of entering a semantic discussion rabbit hole.

So how about:

Aside from the potential (albeit unsubstantiated) risk of account/benefit suspension....

It is still not worth it, and isn't free round ups!

Agreed.

And I certainly have no wish to enter this particular world of Lewis Carroll.

phillw

masonic said:
TBH I was surprised any of the last few Android releases maintained 32-bit support.

Android releases are mirages. Google ship a phone with a android running on a modified linux kernel, then everyone just grabs the source code & modifies the android parts and runs it with their own kernel.

It's a bit of a nightmare in terms of fragmentation. Google have tried a couple of times to standardize more, but it seems impossible.

Wheres_My_Cashback

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

It is still not worth it, and isn't free round ups!

I believe the £335 which has taken minimal effort to accrue, currently sat in my round up account at 5% in less than 52 days is very much worth it as it's better than many regular savers on the market.

Daliah

Wheres_My_Cashback said:

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

It is still not worth it, and isn't free round ups!

I believe the £335 which has taken minimal effort to accrue, currently sat in my round up account at 5% in less than 52 days is very much worth it as it's better than many regular savers on the market.

it's not a massively meaningful number without the deposit dates. I know people who made a £2K or £3K one-off deposit into their Ovo accounts, several months ago. 5% interest....obviously, not everyone has an Ovo account but many people do, and for them it's a lot less tedious than chasing roundups

masonic

Daliah said:

Wheres_My_Cashback said:

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

It is still not worth it, and isn't free round ups!

I believe the £335 which has taken minimal effort to accrue, currently sat in my round up account at 5% in less than 52 days is very much worth it as it's better than many regular savers on the market.

it's not a massively meaningful number without the deposit dates

Doing some generous rounding, about 7 transactions per day to give a final balance in the region of £2,500, and rough interest of a little under £70. If you had £300 per month to save, then you'd get about the same amount from a First Direct 3.5% regular saver (albeit with more capital outlay), or you could deposit the £2.5k lump sum in a 1 year fix at 2.3% to get £60 with zero ongoing effort. As always, it comes down to how you value your time, and whether you see this sort of activity as a chore or a hobby.

AlwaysLearnin

Daliah said:

Wheres_My_Cashback said:

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

It is still not worth it, and isn't free round ups!

I believe the £335 which has taken minimal effort to accrue, currently sat in my round up account at 5% in less than 52 days is very much worth it as it's better than many regular savers on the market.

it's not a massively meaningful number without the deposit dates. I know people who made a £2K or £3K one-off deposit into their Ovo accounts, several months ago. 5% interest....obviously, not everyone has an Ovo account but many people do, and for them it's a lot less tedious than chasing roundups

Appreciate off topic, but are they getting the 5% on the full amount? I recall there was a maximum balance for the reward/interest of £1k (although doesn't seem to be specified on the ovo site)

ETA, did find this:

https://forum.ovoenergy.com/my-account-140/ovo-interest-reward-what-s-the-maximum-credit-balance-i-can-earn-interest-on-10082?postid=48636#post48636

k_man

Wheres_My_Cashback said:

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

It is still not worth it, and isn't free round ups!

I believe the £335 which has taken minimal effort to accrue, currently sat in my round up account at 5% in less than 52 days is very much worth it as it's better than many regular savers on the market.

If you enjoying doing it fill your boots 😁.

Daliah

AlwaysLearnin said:

Daliah said:

Wheres_My_Cashback said:

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

It is still not worth it, and isn't free round ups!

I believe the £335 which has taken minimal effort to accrue, currently sat in my round up account at 5% in less than 52 days is very much worth it as it's better than many regular savers on the market.

it's not a massively meaningful number without the deposit dates. I know people who made a £2K or £3K one-off deposit into their Ovo accounts, several months ago. 5% interest....obviously, not everyone has an Ovo account but many people do, and for them it's a lot less tedious than chasing roundups

Appreciate off topic, but are they getting the 5% on the full amount? I recall there was a maximum balance for the reward/interest of £1k (although doesn't seem to be specified on the ovo site)

ETA, did find this:

https://forum.ovoenergy.com/my-account-140/ovo-interest-reward-what-s-the-maximum-credit-balance-i-can-earn-interest-on-10082?postid=48636#post48636

Thanks for the heads up, I will pass this on 

gizz_10

Has anyone had this issue with Chase yet? I was due a credit for a refund to my chase debit card which the retailer tried to process but Chase declined the refund. When I contacted Chase on app chat they said they don’t currently accept credit refunds. That’s a worry as most retailers will on,y refund back to the card you paid with. Would make me think twice about using my Chase card, eg Asda online is always refunding small amounts to my card if on the day of delivery they don’t have everything I ordered in stock, or if I return a damaged item etc.