Chase UK discussion

JGUK

So we're all pretty sure now its just soft searches?

AML etc?

No hard search like traditional banks?

bd10

Hi all, I went through the list of exclusions for Chase's 1% cashback in the first year and was wondering whether this would also apply to credit card payments: e.g. pay with Amex to collect reward points, have the card linked to the Chase a/c and get 1% cashback when clearing the card balance.
The list of exclusion includes "debt repayment" and "financial services". Maybe credit card balance might fall under either of those categories.
What do you think? Would Chase allow this or would cashback on apply to direct transactions with merchants not on their list of exclusions?
https://www.chase.co.uk/gb/en/legal/Cashback-Exclusions/
Thanks

BigBlueSky

bd10 said:

The list of exclusion includes "debt repayment" and "financial services". Maybe credit card balance might fall under either of those categories.
What do you think? Would Chase allow this or would cashback on apply to direct transactions with merchants not on their list of exclusions?

I would say paying off a credit card is definitely debt repayment and would therefore be excluded

gsmh

Shakin_Steve said:

Whichever account you use, the interest/cashback is buttons. Better than nothing, but not worth spending much time on.

I'm glad you said that! I completely agree. Same with the way some chase (see what I did there!) interest rates on an amount with a ceiling is ludicrous. Sounds great on paper until you actually work out the return you'd actually get. 

crumpet_man

If it's something that you cannot pay for with a credit card then it probably won't earn cashback with Chase.

JGUK

Went to close the account as I couldn’t see the point in having it along with Monzo and Starling - anyway they said if you close we can’t welcome you back for 12 months which is fair enough.

Do we know if Chase will be reporting the account to any credit reference agencies?

Not sure I want another account on there…

So should I close/delete it or just leave it open and wait and see if anything useful comes out of it?

Shakin_Steve

JGUK said:

Went to close the account as I couldn’t see the point in having it along with Monzo and Starling - anyway they said if you close we can’t welcome you back for 12 months which is fair enough.

Do we know if Chase will be reporting the account to any credit reference agencies?

Not sure I want another account on there…

So should I close/delete it or just leave it open and wait and see if anything useful comes out of it?

Your choice.

JGUK

If they start reporting to CRAs don’t want an account opened and closed briefly will bring my overall account age down. But it looks like they’re not reporting to anyone right now.

Might just leave it open and see if Chase launch anything worthwhile in the near future.

Therascal

I would give monzo  a miss not a great bank, revelut is a great online bank

Daliah

Therascal said:

I would give monzo  a miss not a great bank, revelut is a great online bank

Revolut does not currently have a banking licence in the UK, so they are not a great bank at all.