Chase Cashback changing

Middle_of_the_Road

Cisco001 said:

Middle_of_the_Road said:

Cisco001 said:

WillPS said:

Cisco001 said:

I had a look around, unfortunately I am unable to spot better alternative.
I already doing Groceries shopping with eGift card...

Let me know if you manage to find anything better.

Plenty of credit cards, a few of which can be used in conjunction with the discounted egift card vendors.

£5 for 'spending £500' on a Halifax Reward current account (can open up to 3). They don't care where the money is 'spent' (so savings deposits and credit card payments are fine) but it's not a % deal; spend a penny under £500 and you'll get nothing, and spending any more than £500 won't get you more than £5.

Santander Edge - no better than this on debit card cashback but cashback on some DDs as well.

Unfortunately, it is unlikely I would spend £500 on debit card every month.

One card deposit to a savings account is all that's needed.

which bank do debit card deposit to saving?
Every bank I come across is with bank transfer with sort code and bank account.

I pay £500 into Skipton with my Halifax debit card.

nrmsmith

I don’t know why this is a surprise. I’ve had a dozen cash back credit cards over the years and they ALL drop to next to nothing within a few years 

pochisoldi

That's going to be about 85% of my cashback no longer qualifying, so the whole monthly spend will be going back on the Barclaycard, where I get 0.5% plus the cashflow/microstooze benefit.

Rawrzy

Not surprising they'd reduce now they've got more people, but frankly it means chase is useless to me now since I get equivalent cashback on those categories elsewhere. Even now Chase was kind of a backup for my cashback credit cards, so I guess it's just not a backup anymore.

What's especially mean is the other categories don't even have a reduced amount of cashback like many cashback credit cards.

boingy

Maybe they've met their target for luring in new customers. One caution, if you choose to "leave" chase keep the account open with next to nothing in it, because you can't return to them if you close the account so you might miss out on any future promotions etc.

WillPS

grumpy_codger said:

WillPS said:

Cisco001 said:

I had a look around, unfortunately I am unable to spot better alternative.
I already doing Groceries shopping with eGift card...

Let me know if you manage to find anything better.

£5 for 'spending £500' on a Halifax Reward current account (can open up to 3). They don't care where the money is 'spent' (so savings deposits and credit card payments are fine) but it's not a % deal; spend a penny under £500 and you'll get nothing, and spending any more than £500 won't get you more than £5.

.

That's not an 'alternative' as you can get this fiver regardless, without any real 'spending'.

It is if you're not already using it that way.

janni_b

I've had chase account since they were first offered in the UK.   I keep a very low balance in the current account since they stopped paying interest on that  and only move money in if I'm about to spend.  The 1% cash back was the attraction. It's much less attractive as I'll only get cash back on groceries. (No car and free bus travel)

No doubt their next move will be to charge a monthly fee.  That's when I'll leave.

Deru

Speculator said:

Wonder if Amazon gift card bought at Tesco would earn cashback?

I will test it with a £5 GC from 7/4.

It will work.  They can’t tell what products you bought. They only look at the MCC (Merchant Category Code) to determine whether the transaction is eligible for cashback. Does not matter if you only buy a gift card on its own or buy one along with your food shopping, it will show as a Tesco purchase.  

PS. Oh but you can get much higher cashback / discounted Amazon gift cards elsewhere so more than 1% anyway…

SuzeQStan

Do you think it interest would still apply at discount stores like H@me B@rgains and BeeAndEmm? We get a lot of our food from those stores 

Deru

I’m going to guess ‘no’.  What type of purchase does it show as in your transactions list the last time you shopped there? If you compare to a supermarket purchase, it will give a clue.

I suspect it won’t qualify as those shops are predominently not food shops.  Classed as Discount stores or something like Poundland