We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Chase UK discussion
Options
Comments
-
-
With chase does the £500 need to go directly into the current account from the external account. I'm directly funding some of their saver accounts (5) via standing orders, I assume this won't count though?
0 -
SanguineOnSaturn said:With chase does the £500 need to go directly into the current account from the external account. I'm directly funding some of their saver accounts (5) via standing orders, I assume this won't count though?0
-
Ok thanks. My original 1 year term isn't up yet (I think it runs until May). I switched day to day spending over to a rewards credit card now anyway at the same rate but not capped. It seems a better idea keeping the money in an interest paying account until the bill due on the CC. I was trying to drip feed money into the current account for spending for a while but it was a bit too much hassle for me. Ideally I would pay the CC with the chase debit card for 1% cashback that way but I'm sure that'll be on the exclusions list.
0 -
SanguineOnSaturn said:Ok thanks. My original 1 year term isn't up yet (I think it runs until May). I switched day to day spending over to a rewards credit card now anyway at the same rate but not capped. It seems a better idea keeping the money in an interest paying account until the bill due on the CC. I was trying to drip feed money into the current account for spending for a while but it was a bit too much hassle for me. Ideally I would pay the CC with the chase debit card for 1% cashback that way but I'm sure that'll be on the exclusions list.
As a matter of interest, what is the 1% credit card??0 -
wiseonesomeofthetime said:SanguineOnSaturn said:Ok thanks. My original 1 year term isn't up yet (I think it runs until May). I switched day to day spending over to a rewards credit card now anyway at the same rate but not capped. It seems a better idea keeping the money in an interest paying account until the bill due on the CC. I was trying to drip feed money into the current account for spending for a while but it was a bit too much hassle for me. Ideally I would pay the CC with the chase debit card for 1% cashback that way but I'm sure that'll be on the exclusions list.
As a matter of interest, what is the 1% credit card??
Good option if you spend £10k+ on things that wouldn't qualify for Chase cashback and can find enough retailers that take Amex
0 -
I'm using the nectar amex one. Technically not cash but since it can be spent like cash on fuel or shopping it's as good as imo. £1 spend is 2 points which is worth 1p. 20,000 bonus points when you hit £2000 spend in first 3 months (£100). Amex is a lot more widely accepted than I was expecting. Only greggs so far has been refused, all supermarkets ok. £25 fee after a year though so I might switch it up again then if there are better options.I'm keeping the cash in Kroo atm at 3.33% and paying the cc bill from there. It also means if I find a place amex won't work I can use the Kroo card. No cashback on kroo though.
1 -
Doing sone quick maths I'm still better off even with the fee.We're spending about £2000 per month on the amex card which is £20 in nectar points. Interest on the cash kept in interest paying account is £5.50 per month ish.£300 per year less 25 fee =275. With chase cap the most I can earn is £180 with no interest atm. It works better for me too as I can have a card for the wife on amex and chase don't do joint accounts.0
-
SanguineOnSaturn said:Doing sone quick maths I'm still better off even with the fee.We're spending about £2000 per month on the amex card which is £20 in nectar points. Interest on the cash kept in interest paying account is £5.50 per month ish.£300 per year less 25 fee =275. With chase cap the most I can earn is £180 with no interest atm. It works better for me too as I can have a card for the wife on amex and chase don't do joint accounts.On a £24,000 per year (£2,000 per month) spend, the fee effectively reduces the reward to 0.9% of the spend or £215 per year.Compare that to you and your wife each having a Chase account and spending on the debit card, where the spending split would need to be anywhere from 50:50 to 75:25 per month to maximise cashback, and you'd have 1% of the spend coming in as cashback or £240 per year.The opportunity cost of missing out on an interest free credit period is now probably a bit more than £5.50 per month (but may be subject to tax), and could be even higher if you were to take up stoozing. It's also fair to factor in that not all spending on the Chase card will qualify for cashback. All of this will tip the scales in favour of a credit card.It's worth also bearing in mind that with interest rates at higher levels, a 0% spending card with a high enough credit limit may beat both options. There are also clever tricks you can do by combining reward credit cards and no fee 0% balance transfer cards.1
-
Wheres_My_Cashback said:SanguineOnSaturn said:With chase does the £500 need to go directly into the current account from the external account. I'm directly funding some of their saver accounts (5) via standing orders, I assume this won't count though?0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards