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CHASE Boosted Savings Rate

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  • poppystar
    poppystar Posts: 1,632 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I had moved all my pennies out of chase when the rates dropped to 3% and I got this offer. My wife had left her pennies in chase and has not got the offer. She has "chatted" with them today and they confirmed that as she has over 10k with them that she will not get the offer. She replied to say that she now has another account with a better rate that she was going to move her money to but was holding off for this offer.... they have replied saying they would give this feedback to their management so they have the opportunity to see your feedback and maybe make something happen for you. 
    Let’s see if see gets offered the boosted rate - otherwise she will also shift her money elsewhere. 
    Looking forward to seeing how this resolves. I’d moved all but £6k (was less than £5k but topped up to get cash back for May) out and have not had the offer. It’s annoying that there seems to be no clear criteria reading the posts on here with just the possibility that one of the criteria is rewarding disloyalty!
  • Lothian5
    Lothian5 Posts: 10 Forumite
    Fourth Anniversary First Post
    I have noticed a pattern with the boost offer, when they do a boost offer, they seem to target people who have recently made a large withdrawal. It happened to me at the last boost and has happened again this time.  In Feb I had 3k in my saver account, I received my annual works bonus in March which I paid into the save account, so in March the balance was 10.7k.  I withdrew 9k at the start of April to go towards my ISA subscription for 2025/2026, leaving just 1.7k.  I then got the boost offer late April.  My ISA subscription is full (due to other moving other money too), so moved money from my HL active savings account as the rate was lower.  Now have £29k in the Chase Saver at 4.8. So their plan has worked for me.  
    I think It would be wise to leave under 10k in the account the month before the boost ends, as suspect this is the level they target people at 
  • friolento
    friolento Posts: 2,381 Forumite
    1,000 Posts Second Anniversary Name Dropper Photogenic
    I did not recently make a large withdrawal from Chase. I have had nothing in my Chase savings or current accounts, and I have been stoozing my Chase credit card with several thousands ever since they launched the CC. I got the savings account offer.

    I think it is futile for us to try and discover the eligibility criteria Chase use. 
  • poppystar
    poppystar Posts: 1,632 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Maybe it is futile but maybe also organisations should be more upfront on the criteria. They hold a lot of personal information on people who hold accounts with them. If they are not transparent then how do we know they are not offering on a gender basis, for example, which surely would be illegal? Or on the basis of age or occupation or where someone lives. Certainly in these discussions no clear financial criteria have emerged! 

    I felt Nationwide’s previous loyalty payments weren’t really rewarding ‘loyalty’ but at least the criteria were announced and clear. Chase has avoided that clarity even it seems when people have contacted them directly. 
  • friolento
    friolento Posts: 2,381 Forumite
    1,000 Posts Second Anniversary Name Dropper Photogenic
    poppystar said:
    Maybe it is futile but maybe also organisations should be more upfront on the criteria. They hold a lot of personal information on people who hold accounts with them. If they are not transparent then how do we know they are not offering on a gender basis, for example, which surely would be illegal? Or on the basis of age or occupation or where someone lives. Certainly in these discussions no clear financial criteria have emerged! 

    I felt Nationwide’s previous loyalty payments weren’t really rewarding ‘loyalty’ but at least the criteria were announced and clear. Chase has avoided that clarity even it seems when people have contacted them directly. 
    It’s obvious from the posts in this thread that they do not select by gender. 

    Businesses are free to offer deals to whoever they like, and AFAIK, there is no law which compels them to publish their business decisions. However, if you have evidence that they are doing something illegal, you should contact them and give them the opportunity to correct it. If they don’t agree, you can report them to the authorities / take them to Court.



  • MikeyPGT
    MikeyPGT Posts: 535 Forumite
    500 Posts Third Anniversary Photogenic Name Dropper
    Maybe it was just randomly selected.  My two daughters and I all had the offer.  Our levels of activity, spending and saving differ enormously as does the length of time in having the account.  If you've been offered it be grateful, if not then suck it up!
    Debt Free Wannabe by 1 December 2027

    Satisfied customer of Octopus Agile - past savings on average 33% of standard tarrif

    Deep seated hatred of Scottish Power and all who sail in her - would love to see Ofgem grow a pair and actually do something about it.
  • AndyTh_2
    AndyTh_2 Posts: 331 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I think it was just if you had less than £500 (like the first boost was) or maybe £1k on a certain date.
  • ColdIron
    ColdIron Posts: 9,818 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    friolento said:
    I have been stoozing my Chase credit card with several thousands ever since they launched the CC. I got the savings account offer.
    Same. It certainly takes the edge off a solicitors bill and some expensive dental treatment
  • RedImp_2
    RedImp_2 Posts: 542 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    MikeyPGT said:
    Maybe it was just randomly selected.  My two daughters and I all had the offer.  Our levels of activity, spending and saving differ enormously as does the length of time in having the account.  If you've been offered it be grateful, if not then suck it up!
    My partner & I plus two daughters all have Chase accounts.  Three of us had the offer, I can’t find an obvious correlation!
  • clowning
    clowning Posts: 125 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    I had about £4k in a Chase savings account and hadn’t made any large withdrawal, but I got the boost offer. I think it was just a random allocation.
    #66
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