Chase Cashback changing

sausage_time

Interest rate shown on "Hamburger" menu, Interest on Cash.  Indeed 4.6% for me (for now).

ZeroSum

Does the trade212 card round up like chase.
Ie if if spend £1.50 I got £0.02 cash back.
So you'd still get a penny cashback for everything between £1.01 £2.99, or will the just give the penny for transactions between £2.00 to £3.99 like Tesco bank did with their clubcard points.

bsms1147

ZeroSum said:

Does the trade212 card round up like chase.
Ie if if spend £1.50 I got £0.02 cash back.
So you'd still get a penny cashback for everything between £1.01 £2.99, or will the just give the penny for transactions between £2.00 to £3.99 like Tesco bank did with their clubcard points.

It is an exact amount, so not rounded up or down. If the amount is less than 1p it's rolled-forwards to the next transaction.

eg a spend of £3.50 will earn 1.75p of 0.5% cashback; you'll receive 1p and then the 0.75p will be added to the next 0.5% earned

So if your next spend was £1, you'll earn 0.5p on that - add that to to 0.75p that had been rolled forwards so you'll have received another 1p, with 0.25p rolled forwards for the next transaction, etc.

HungryForMore

I've registered for an Amazon Barclaycard. Most of my spending that's not covered my the new cashback rules is spent at Amazon. It's not as good for purchases outside of Amazon (0.5% in first year, 0.25% after), but the 1% for Amazon spending (2% on event days) is pretty good.

Only downside is no Apple Pay, but hey, can't have it all can you?

The rewards were very lucrative for a long time and they weren't going to be able to maintain them. I'll keep Chase for food/travel and spending abroad.

ZeroSum

bsms1147 said:

ZeroSum said:

Does the trade212 card round up like chase.
Ie if if spend £1.50 I got £0.02 cash back.
So you'd still get a penny cashback for everything between £1.01 £2.99, or will the just give the penny for transactions between £2.00 to £3.99 like Tesco bank did with their clubcard points.

It is an exact amount, so not rounded up or down. If the amount is less than 1p it's rolled-forwards to the next transaction.

eg a spend of £3.50 will earn 1.75p of 0.5% cashback; you'll receive 1p and then the 0.75p will be added to the next 0.5% earned

So if your next spend was £1, you'll earn 0.5p on that - add that to to 0.75p that had been rolled forwards so you'll have received another 1p, with 0.25p rolled forwards for the next transaction, etc.

Whens it paid out? I have a Barclaycard credit card that also pays 0.5% which is awarded at the bill & is 0.5% of the balance so does pay it on the exact amount, or is it like chase where it's paid after each transaction & cash out whenever you want 

bsms1147

ZeroSum said:

bsms1147 said:

ZeroSum said:

Does the trade212 card round up like chase.
Ie if if spend £1.50 I got £0.02 cash back.
So you'd still get a penny cashback for everything between £1.01 £2.99, or will the just give the penny for transactions between £2.00 to £3.99 like Tesco bank did with their clubcard points.

It is an exact amount, so not rounded up or down. If the amount is less than 1p it's rolled-forwards to the next transaction.

eg a spend of £3.50 will earn 1.75p of 0.5% cashback; you'll receive 1p and then the 0.75p will be added to the next 0.5% earned

So if your next spend was £1, you'll earn 0.5p on that - add that to to 0.75p that had been rolled forwards so you'll have received another 1p, with 0.25p rolled forwards for the next transaction, etc.

Whens it paid out? I have a Barclaycard credit card that also pays 0.5% which is awarded at the bill & is 0.5% of the balance so does pay it on the exact amount, or is it like chase where it's paid after each transaction & cash out whenever you want 

Paid out within a day or two, and was paid back to the main balance (before the spending pot feature came in, not sure if it’s changed) so no need to transfer it unlike Chase.

pochisoldi

ZeroSum said:

bsms1147 said:

ZeroSum said:

Does the trade212 card round up like chase.
Ie if if spend £1.50 I got £0.02 cash back.
So you'd still get a penny cashback for everything between £1.01 £2.99, or will the just give the penny for transactions between £2.00 to £3.99 like Tesco bank did with their clubcard points.

It is an exact amount, so not rounded up or down. If the amount is less than 1p it's rolled-forwards to the next transaction.

eg a spend of £3.50 will earn 1.75p of 0.5% cashback; you'll receive 1p and then the 0.75p will be added to the next 0.5% earned

So if your next spend was £1, you'll earn 0.5p on that - add that to to 0.75p that had been rolled forwards so you'll have received another 1p, with 0.25p rolled forwards for the next transaction, etc.

Whens it paid out? I have a Barclaycard credit card that also pays 0.5% which is awarded at the bill & is 0.5% of the balance so does pay it on the exact amount, or is it like chase where it's paid after each transaction & cash out whenever you want 

From my experience, there's three ways to calculate cashback:
a) "Spend for the period"
b) "Per transaction, rounded down"
c) "Per transaction, 4/5 rounding"

Barclaycard Rewards uses method (a). Not sure if they use rounding or round down - it's only a penny a month.
Chase use (c).
Sure I've had other providers in the past who have used (b), but I've slept since then.

If you had two transactions for £1.49 and £1.51 and earn cashback at 1%:
Method (a) earns you 3p (1% of £3)
Method (b) earns you 2p (cashback for each transaction rounded down to 1p)
Method (c) earns you 3p (£1.49 cashback rounded down to 1p, £1.51 cashback rounded up to 2p).

For an everyday, every smallest transaction card, you want method (a) or (c).

Ivor_E_Costa

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 don't know any bank that allows deposits via debit card. Cambridge Building Society do via their online banking, as do Skipton Building Society, I think Family Building Society do too. Also if you have a credit card most card companies allow debit card payments, these count for Halifax.

WillPS

Ivor_E_Costa said:

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 don't know any bank that allows deposits via debit card. Cambridge Building Society do via their online banking, as do Skipton Building Society, I think Family Building Society do too. Also if you have a credit card most card companies allow debit card payments, these count for Halifax.

There are plenty, and @Bridlington1 maintains a list of them here:
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

Bank options include M&S Bank (HSBC) and Post Office (Bank of Ireland).

Ivor_E_Costa

HungryForMore said:

I've registered for an Amazon Barclaycard. Most of my spending that's not covered my the new cashback rules is spent at Amazon. It's not as good for purchases outside of Amazon (0.5% in first year, 0.25% after), but the 1% for Amazon spending (2% on event days) is pretty good.

Only downside is no Apple Pay, but hey, can't have it all can you?

The rewards were very lucrative for a long time and they weren't going to be able to maintain them. I'll keep Chase for food/travel and spending abroad.

You could get 1% cashback at Amazon without bothering with another card. Just buy Amazon gift cards in a supermarket (most sell them) using Chase.