Chase UK discussion

Band7

I never used Chase as my main account and am unlikely to do so in the future. I have used them for my savings when 1.5% was the run-away market leader but that lasted just a few months, and they never regained the lead spot since. If they did, which doesn’t look likely atm,  I would probably move my savings back to them. 

My cashback is still running to the end of February, so I use it when it pays better cashback than my RBS or Barclays credit cards, provided I don’t need S75 protection. I generally dislike using debit cards because I don’t like having money in 0% interest accounts but the Chase cashback has been very good for me, particularly when it was still possible to shift credit card spend to the Chase debit card (using free Curve).  Those were the days…….

Whether I will use Chase beyond February depends on what they offer at the time. If it’s unique benefits, fine. Otherwise no.

Jami74

I use the Chase debit card if Amex is not accepted and keep a few quid in the savings to transfer into the current account when needed. I did like the pots function but moved the money to Barclays Rainy Day Saver. I don't seem to have as much money as everyone else on these forums but if I have anything left over once I've topped up Natwest/RBS and Lloyds each month I'll put it in Chase savings.

where_are_we

Will I get 1% cashback using my Chase debit card to pay the following car bills - annual tax, mot, servicing, repairs and parts at a garage. Exclusions list has "Car and van dealers - services repairs and parts" but a garage is different? Exclusions list has " Government services not classified elsewhere" - would this include car tax? Obviously car insurance is excluded under "Insurance sales and premiums" as would house insurance?

Band7

I didn't get cashback for a car service, MOT and new tyres. Not tried car tax

IAAM

I've had a Chase account since November and am using it specifically for the 1% cashback, and the 5% rounding savings rate and 2.1% rate for savings (which I see they're increasing to 2.7% from 4th Jan).

It's worked really well for me so far and, by using the debit card rather than putting expenditure on my credit card, it has allowed me to stick to a budget each month. (I'm currently trying to save to pay off my mortgage early). 

I am like Band7 in that, whether I continue to use Chase beyond the 12 month cashback deal will depend on what they are offering at the time. There are so many competitive deals out there with banks that I don't see the sense in keeping my money anywhere that offers me nothing

Band7

IAAM said:

(I'm currently trying to save to pay off my mortgage early). 

You can get much better than 2.7%. There are many Regular Savers paying above 4% and as much as 7%. The easiest of them is probably the Coventry First Home Saver (which everybody can get), currently 2.95% and going to 5% from Jan 6. It takes anything from £0 to £1,000 a month, and you can withdraw as often as you like.

Another option could be a Zopa "ladder". One form of it is described here, but you can create your own scheme that suits your requirements.

Marchitiello

Never been my main account but have used extensively for foreign spend and cashback (before and after the summer just gone when my Santander Zero Matched the cashback  but added the CC benefit of protection and cash flow).  I do travel often to the USA and the free ATM usage at Chase ATMs over there (where ATM charges non customers) is too much of a USP that justify keeping the account just for it. 

I have filled multiple survey to be quite confident that a permanent form of rewards/cashback will be offered at the end of this initial 18 months launch period 

where_are_we

Band7 said:

I didn't get cashback for a car service, MOT and new tyres. Not tried car tax

Chase cashback exclusions update - They told me car tax payments do not qualify for cashback. I will use a .5% cashback credit card instead.

User36750

Its_just_Barry said:

How’s everyone still enjoying chase? Are people still using it as their main bank, day to day spending, savings or leaving it open as a “just in case” account? Mine is actually doing nothing but thinking with the savings rate going up, might actually use it again. 

Still use mine as my main personal account.

User36750

Band7 said:

IAAM said:

(I'm currently trying to save to pay off my mortgage early). 

You can get much better than 2.7%. There are many Regular Savers paying above 4% and as much as 7%. The easiest of them is probably the Coventry First Home Saver (which everybody can get), currently 2.95% and going to 5% from Jan 6.

The difference between 2.7% and 2.9% is barely worth the effort on moving money for many people I should think.