Halifax Scrapping £5/Cinema ticket Rewards.

poshrule_uk

danny13579 said:

TheMod1 said:

Should we wait for the final reward payment or can we just downgrade the account on the 1st October and still get the reward payment?

Wait until you get your final payment (12th-ish October) and your remaining payments (sometime in October) before downgrading.

That's what I'm going to do so I don't put any payment in jepody 

allegro120

poshrule_uk said:

danny13579 said:

TheMod1 said:

Should we wait for the final reward payment or can we just downgrade the account on the 1st October and still get the reward payment?

Wait until you get your final payment (12th-ish October) and your remaining payments (sometime in October) before downgrading.

That's what I'm going to do so I don't put any payment in jepody 

Me too.  I will do the final £1500 round in October to make sure I'm avoiding the fee and downgrade them when all expected reward payments arrive.  
I will definitely keep all three Halifax accounts open, I never close dormant current accounts.  They are not a liability, but rather a potential asset in the event of a switching opportunity or other perks.

pecunianonolet

I will keep all 3 Rewards Accounts. To funnel some cash through is quick and I will attempt to apply for £100 of overdraft on each of them. That's £300 interest free borrowing that can earn me a few quid elsewhere. Nice and small stoozing pot.

The interest free overdraft feature was of no use when the rewards were active as staying in credit was one of the requirenments for the reward. 

allegro120

pecunianonolet said:

I will keep all 3 Rewards Accounts. To funnel some cash through is quick and I will attempt to apply for £100 of overdraft on each of them. That's £300 interest free borrowing that can earn me a few quid elsewhere. Nice and small stoozing pot.

The interest free overdraft feature was of no use when the rewards were active as staying in credit was one of the requirenments for the reward. 

I have £500 free overdraft with FD and £200 with Lloyds and was thinking about taking the advantage, but dropped this idea after @Bridlington1 reported that he was banned from Lloyds group for doing this.  

I've never used overdraft facilities.  Might have a go at it.  How quick do you have to repay overdraft to avoid being charged?

Doc_N

There is an obvious downside to making use of these free overdraft facilities - the impact on credit ratings. Perhaps irrelevant to some, but not to those likely to be needing loans of any kind, or other facilities requiring credit checks.

pecunianonolet

allegro120 said:

pecunianonolet said:

I will keep all 3 Rewards Accounts. To funnel some cash through is quick and I will attempt to apply for £100 of overdraft on each of them. That's £300 interest free borrowing that can earn me a few quid elsewhere. Nice and small stoozing pot.

The interest free overdraft feature was of no use when the rewards were active as staying in credit was one of the requirenments for the reward. 

I have £500 free overdraft with FD and £200 with Lloyds and was thinking about taking the advantage, but dropped this idea after @Bridlington1 reported that he was banned from Lloyds group for doing this.  

I've never used overdraft facilities.  Might have a go at it.  How quick do you have to repay overdraft to avoid being charged?

The first £100 overdraft are free with Lloyds and also with Halifax. If you have a larger limit you may be able to increase the interest free use of your full overdraft for a short while.

Details here https://forums.moneysavingexpert.com/discussion/comment/81666603#Comment_81666603

Since it is the same group and most functions are the same it could be possible to get £100 interest free with Halifax on each current account. If the Lloyds method works with Halifax, I don't know and could be indeed too much of a risk. I guess Chase (or others) would not be happy if every quarter you switch 4 accounts out and LBG for sure would not be happy either. Keeping it to the minimum may actually work. Perhaps requesting overdraft spaced out on each account with 1-2 months gaps inbetween lowers risk of detection.

B0bbyEwing

So, am I right in thinking that as of today there's no point in doing the '£500 spend' (e.g. NS&I) with the Halifax accounts
or do we still do it for October?

masonic

B0bbyEwing said:

So, am I right in thinking that as of today there's no point in doing the '£500 spend' (e.g. NS&I) with the Halifax accounts
or do we still do it for October?

There is no longer any need to do the monthly spend. Any remaining cashback should be credited in the next couple of weeks.

NameWithheld

Just looked on the app and it has the progress report for October including pay £500 on the debit card

PRAISETHESUN

I've done extra debit card transactions for Oct just in case, but from my understanding it shouldn't be necessary. Sep's transactions were to qualify for the final reward paid in Oct as usual, and then the outstanding rewards for any remaining months should be paid out separately by the end of Oct. As usual I'd recommend paying no attention to the tracker, as I highly suspect it hasn't been changed to account for the rewards ending.