Chase Bank paying 1% interest on Current Account

wiseonesomeofthetime

Good to know. I recently made a purchase for £38.50 and inadvertently used my Chase debit card details, rather than my algbra card (where my current spending funds sit) and afterwards noticed a balance of just 2p.

I didn't have to approve the transaction in app, for a change, else would have clocked what I was doing. It was about 3am 🤣🤣

allegro120

RedImp_2 said:

masonic said:

RedImp_2 said:

Just a random comment i deliberately paid my cattery bill with my Chase card to get the cash back.  I noticed I didn’t get any and it seems they must be using some random category of spend that falls outside the criteria so if using a local merchant don’t always assume cashback is coming.

I've found that they are quite willing to check items you think have been wrongly categorised, or explain which exclusion a transaction falls into if unclear. I've had them manually apply cashback a couple of times.

Seeing this I thought I would question it.
The response I got back was the merchant used an ineligible MCC code.  Didn’t elaborate what that code was and promptly closed the chat.

Last year I deposited to an investment account and I'm sure investments were on the exclusion list at the time.  Took advantage of it for almost a year until they closed the loophole. I did it modestly, deposited only what I wanted to invest, but if I was more adventurous I could have made large deposits followed by immediate withdrawals prior to committing my cash to investments. No doubt some people took full on advantage of 1% per day.