Chase increases cashback to 2%

eastcorkram

https://forums.moneysavingexpert.com/discussion/comment/82004650#Comment_82004650

Can't see a mention of the £1500 monthly pay in. So presume it's not needed, and has been replaced by the keeping a £1000 balance in savings.

jak22

While the £1000 can be seen as £20 a year lost interest as they haven't offered boosted savers to existing customers, the 2% cashback on £250 a month spend is £60 over the year. But 15 transactions could be tricky with just debit card use for things earning cashback.

AltruisticPie1544

You could probably set up automated £1 debit card deposits to a Trading 212 account to help meet the 15 transaction requirement.

winkowinko

https://forums.moneysavingexpert.com/discussion/comment/82004413#Comment_82004413

You'd only need to spend £95 a month to cover that loss of interest.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82004723#Comment_82004723

Think that's 2% cashback on up to £1000/mth, so £20/mth or £240/yr.

la531983

https://forums.moneysavingexpert.com/discussion/comment/82004723#Comment_82004723

Does it say the 15 debit card transactions have to be qualifying ones, or just 15 debit card transactions on the card full stop?

Ive now had an email and it says

"make at least 15 payments each month with your debit card, credit card or via Direct Debit"

Nowhere there does that say they have to be 15 transactions in a supermarket or a train station etc.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82004705#Comment_82004705

Nothing at 2%, few ways to get 1% on (just about) all spend, easiest is probably the Lloyds Ultra credit card (for a year).

I'm using this as my everyday spender, but I'll switch the qualifying spending to Chase come June.

EarthBoy

For anyone who uses Chase as their main account, it shouldn't be too difficult to make 15 payments per month. Direct debits for your household bills would make up half of them, if not more, and general household shopping, either by debit or credit card, would easily cover the rest.

If you only use Chase as a spending card, though, the 15 payments might be more difficult.

surreysaver

I wonder if Chase have sorted the issue where they use pseudo card numbers for the app, so you cannot obtain journey history from bus companies?

KTF

I already have the Chase CC but when I applied it came with an interest free period on purchases for 18 months (or similar).

You could put 1k in the savings account then put all the spending on the CC and only pay the min each month until the interest free period is up.

Then what you would have spent could be put in a higher interest savings account until the CC needs paying off.