Halifax Reward changes from November 1 2022

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  • WillPSWillPS Forumite
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    So does Ultimate Reward not count as 'a Reward Account' for the purpose of that max 3 limit?
  • Ed-1Ed-1 Forumite
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    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
  • jbrassyjbrassy Forumite
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    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). 
  • Bridlington1Bridlington1 Forumite
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    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.
  • edited 2 August 2022 at 2:35PM
    DaliahDaliah Forumite
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    edited 2 August 2022 at 2:35PM
    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.
  • ZandermanZanderman Forumite
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    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_mank_man Forumite
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    Or by paying credit card bills (for that use credit cards).
  • ZeroSumZeroSum Forumite
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    Quite handy that YBS's new 5% regular saver allows payments upto £500 means there's a genuine debit card payment 
  • wiseonesomeofthetimewiseonesomeofthetime Forumite
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    Does anyone know if Halifax do hard searches for additional accounts? 

    Would not effect me, but info may be of use to others. 
  • Bridlington1Bridlington1 Forumite
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    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.
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