Chase new 1% cash back offer from 1st March 2024

jimroy

I logged into my Chase account via the app last night and I noticed a new offer under the 'Rewards' section.

From the 1st March you'll now have to pay in £1500.00 per month into your current account externally in order to get up to £15 per month cash back at 1% cash back rate compared with £500.00 the year previously.

jimexbox

You can always transfer in £1500, then straight out again. The question is can I be bothered for 1% cashback anymore. 

friolento

To get the max £15 cashback, you’d have had to pay in £1,500 anyway. The change really only affects those who would have been happy with just £5 cashback.

I haven’t bothered for a while with Chase as they have so many exclusions and I find it easier / more productive/ profitable to spend with a cashback credit card, anyway

rider22

jimexbox said:

You can always transfer in £1500, then straight out again. The question is can I be bothered for 1% cashback anymore. 

how do you do that ?

Olinda99

does this mean you will have to xfer £1500 in Feb to get March cashback ?

jimroy

Olinda99 said:

does this mean you will have to xfer £1500 in Feb to get March cashback ?

Well for me, I’ve already qualified for March as I’ve transferred in £500 this month. But next month it looks like I’ll have to transfer £1500 in. But as jimexbox said, I can always transfer it out again. Bit of a faff and a bit short notice too. 

Stargunner

I stopped using my Chase debit card several months ago, as I got myself a couple of 0% credit cards which allow me to spend for up to 2 years without having to pay any interest. I just pay off the minimum balance each month and make sure that I have the outstanding balance sitting in a savings account earning around 5% interest.

Ayr_Rage

I guess we'll all get the same message when our annual review comes around, thankfully I have two other current accounts for moving funds.

la531983

jimroy said:

Olinda99 said:

does this mean you will have to xfer £1500 in Feb to get March cashback ?

Well for me, I’ve already qualified for March as I’ve transferred in £500 this month. But next month it looks like I’ll have to transfer £1500 in. But as jimexbox said, I can always transfer it out again. Bit of a faff and a bit short notice too. 

It takes about two minutes lol, hardly a hardship.

rider22

jimroy said:

Olinda99 said:

does this mean you will have to xfer £1500 in Feb to get March cashback ?

Well for me, I’ve already qualified for March as I’ve transferred in £500 this month. But next month it looks like I’ll have to transfer £1500 in. But as jimexbox said, I can always transfer it out again. Bit of a faff and a bit short notice too. 

Does deposting £1500 into Chip savings app using your chase debit card give you 1% cashback? Has anyone tried this?

friolento

rider22 said:

jimroy said:

Olinda99 said:

does this mean you will have to xfer £1500 in Feb to get March cashback ?

Well for me, I’ve already qualified for March as I’ve transferred in £500 this month. But next month it looks like I’ll have to transfer £1500 in. But as jimexbox said, I can always transfer it out again. Bit of a faff and a bit short notice too. 

Does deposting £1500 into Chip savings app using your chase debit card give you 1% cashback? Has anyone tried this?

It doesn’t. 

None of the deposits into savings or investment accounts counts .