How much do you make from bank Cashback/Rewards?

IanManc

[Deleted User] said:

Oh dear some people do not like to hear the opinions of others. To be accused of 'insulting' others is a bit over the top and unwarranted.
As for 'bragging', certainly not. I actually have fairly modest means but with current interest rates improving the returns are greater.

In a thread about how much money people got from cashback and rewards you stated:"For some of you it seems obsessive and in some cause verging on the unhealthy" (sic). Then you ended your contribution with: "Very pleased I do not have an addictive personality", indicating that you thought people who got cashback did have an addictive personality.

Stop trying to pretend that you didn't mean these remarks to be insulting. That is very clearly exactly what you intended.

TheBanker

I'm sure it is possible to be addicted to earning cashback. But honestly does it matter? There are far worse things people get addicted to in this world. 

huw01

Per month Halifax rewards £10
Chase cash back. £8
Santander 123 cashback £4
TSB £5
Then through work I load a Sainsburys shopping card with £150 per month through an employee discount scheme and get £7.50 cashback 

So at present around £34.50 per month for not much effort

The way I look at it is if I was walking along the street and found £34.50 on the floor... I'd be made up. I'm doing that every month.

Contrast that with when I used to just have a HSBC advance current account and got a great fat zilch every month. 

[Deleted User]

I must stress that my post was not intended to be insulting. I was simply expressing a simple alternative view and opinion. I will say no more on the matter.

TheBanker

huw01 said:

Per month Halifax rewards £10
Chase cash back. £8
Santander 123 cashback £4
TSB £5
Then through work I load a Sainsburys shopping card with £150 per month through an employee discount scheme and get £7.50 cashback 

So at present around £34.50 per month for not much effort

The way I look at it is if I was walking along the street and found £34.50 on the floor... I'd be made up. I'm doing that every month.

Contrast that with when I used to just have a HSBC advance current account and got a great fat zilch every month. 

For some people that will be the equivalent of a couple of hours overtime a month - well worth it.

I have been out for some shopping this morning. Careful use of my cashback cards and airtime rewards will have generated enough cashback to pay for my car parking. Not much in the grand scheme of things but better in my pocket than theirs.

ForumUser7

Just upgraded to NatWest and RBS rewards to get some extra cash back. Does anyone know the date that they charge the fee each month please? Thank you

AmityNeon

ForumUser7 said:

Just upgraded to NatWest and RBS rewards to get some extra cash back. Does anyone know the date that they charge the fee each month please? Thank you

For my accounts, the charge is delayed by a specific number of days into the statement period (which itself is based on the monthly anniversary of account opening). The charge specifies a date in its transaction details, which is the last day of the previous statement period.

NatWest delays the charge by 21 days.
RBS delays the charge by 16 days.

E.g. NatWest

• Account opened: 13 Apr 2023
• Account upgraded: 23 Apr 2023
• May statement: 13 Apr to 12 May
  • No charge because there is no last day of a previous statement period, and even if there were, 12 Apr is before the account upgrade.
• June statement: 13 May to 12 Jun
• No charge because 23 Apr to 12 May (last day of the previous statement period) is less than the minimum duration for the £2 fee.
• July statement: 13 Jun to 12 Jul
• 03 Jul 2023 - CHARGES - 12JUN A/C 12345678 - £3.33
• 03 Jul is 21 days after 12 Jun
• 23 Apr to 12 May (20 days) = £1.33 (approx.)
• 13 May to 12 Jun (full month) = £2.00

The number of days (21 or 16) will be extended if the target date falls on a weekend or bank holiday. Statement periods will also vary due to weekends and bank holidays; they can be cut short to less than 30 days or extended beyond 31 days (last year's Platinum Jubilee caused my corresponding consecutive statement periods to have 27 days and 34 days).

ForumUser7

AmityNeon said:

ForumUser7 said:

Just upgraded to NatWest and RBS rewards to get some extra cash back. Does anyone know the date that they charge the fee each month please? Thank you

For my accounts, the charge is delayed by a specific number of days into the statement period (which itself is based on the monthly anniversary of account opening). The charge specifies a date in its transaction details, which is the last day of the previous statement period.

NatWest delays the charge by 21 days.
RBS delays the charge by 16 days.

E.g. NatWest

• Account opened: 13 Apr 2023
• Account upgraded: 23 Apr 2023
• May statement: 13 Apr to 12 May
  • No charge because there is no last day of a previous statement period, and even if there were, 12 Apr is before the account upgrade.
• June statement: 13 May to 12 Jun
• No charge because 23 Apr to 12 May (last day of the previous statement period) is less than the minimum duration for the £2 fee.
• July statement: 13 Jun to 12 Jul
• 03 Jul 2023 - CHARGES - 12JUN A/C 12345678 - £3.33
• 03 Jul is 21 days after 12 Jun
• 23 Apr to 12 May (20 days) = £1.33 (approx.)
• 13 May to 12 Jun (full month) = £2.00

The number of days (21 or 16) will be extended if the target date falls on a weekend or bank holiday. Statement periods will also vary due to weekends and bank holidays; they can be cut short to less than 30 days or extended beyond 31 days (last year's Platinum Jubilee caused my corresponding consecutive statement periods to have 27 days and 34 days).

Thank you - That's really helpful It seems so weird that they do the charging by account month, but the rewards by calendar month!

ForumUser7

If we want to get more Halifax rewards accounts to use for the £5 bonus, how do we go about doing this please? Do we just apply for the standard one and upgrade it?

Bridlington1

ForumUser7 said:

If we want to get more Halifax rewards accounts to use for the £5 bonus, how do we go about doing this please? Do we just apply for the standard one and upgrade it?

Just apply for a new reward account. There's no need to upgrade any accounts.