Halifax Reward changes from November 1 2022

WillPS

So does Ultimate Reward not count as 'a Reward Account' for the purpose of that max 3 limit?

Ed-1

WillPS said:

So does Ultimate Reward not count as 'a Reward Account' for the purpose of that max 3 limit?

No Ultimate Reward is not a Reward account

jbrassy

What's the benefit of having the Halifax Reward account these days? You get £5 a month for keeping £5000 in the account or spend £500 a month. You can get higher interest on £5k in a Chase account and get 1% on all spending (irrespective of whether it is above or below £500). 

Bridlington1

jbrassy said:

What's the benefit of having the Halifax Reward account these days? You get £5 a month for keeping £5000 in the account or spend £500 a month. You can get higher interest on £5k in a Chase account and get 1% on all spending (irrespective of whether it is above or below £500). 

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Daliah

jbrassy said:

What's the benefit of having the Halifax Reward account these days? You get £5 a month for keeping £5000 in the account or spend £500 a month. You can get higher interest on £5k in a Chase account and get 1% on all spending (irrespective of whether it is above or below £500). 

You can get both, the Reward cashback and interest from a savings account. You can also get much more interest than in Chase in other instant access accounts. Essentially up to £180 free money a year from Halifax.

Zanderman

jbrassy said:

What's the benefit of having the Halifax Reward account these days? You get £5 a month for keeping £5000 in the account or spend £500 a month. You can get higher interest on £5k in a Chase account and get 1% on all spending (irrespective of whether it is above or below £500). 

The advantage is you can get the £5 reward (by the debit card method) as well as doing all the other things you mention. The debit card spend can be just one payment, to a savings account of your own, doesn't affect debit card spend from elsewhere for cashback. And you can use the same £500 next month by putting it back.

k_man

Or by paying credit card bills (for that use credit cards).

ZeroSum

Quite handy that YBS's new 5% regular saver allows payments upto £500 means there's a genuine debit card payment 

wiseonesomeofthetime

Does anyone know if Halifax do hard searches for additional accounts? 

Would not effect me, but info may be of use to others. 

Bridlington1

wiseonesomeofthetime said:

Does anyone know if Halifax do hard searches for additional accounts? 

Would not effect me, but info may be of use to others. 

No they don't.