New Chase Regular Saver 6.5%

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82152452#Comment_82152452

For Waitrose you should always look at John Lewis as well because they're the same cards and will work in both stores but they often have different cashback rates e.g., as I type Everup offers John Lewis at 4% but Waitrose at 3.5%.

flaneurs_lobster

Would the fact that they advertise it as 6.31 gross, 6.5% AER not suggest compounding (and therefore monthly interest?)

Sort of, it means that they are paying interest monthly and IF the interest were reinvested and compounded then the rate would be 6.5% for a year.

The AER rate is a theoretical comparator, not the actual rate that is earned in this account (but it could be).

winkowinko

https://forums.moneysavingexpert.com/discussion/comment/82152452#Comment_82152452

This confirms my suspicion that they tailor the cashback % for different people. On Tuck, I can see Asda 3.19%, Morrisons 2.29%, Sainsburys 3.44%, Tesco 3.695, and Waitrose 3.99%

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82152489#Comment_82152489

Oh that's very interesting, I had no idea.

I wonder what criteria they use in order to tailor the rates offered? Can only be previous purchase history in that app surely? Tuck isn't 'Open Banked' to anywhere.

And more importantly, how can I "game" around it to get the best possible rates?

winkowinko

https://forums.moneysavingexpert.com/discussion/comment/82152499#Comment_82152499

My guess would be that they entice newbies in with high rates, and gradually make those rates worse for places they know you shop at.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82152521#Comment_82152521

In which case I have quite a lot of email addresses for opening new accounts.

Just a matter of judging at what point the hassle outweighs the extra 1-2%.

winkowinko

https://forums.moneysavingexpert.com/discussion/comment/82152532#Comment_82152532

It might be that simple, but I think I remember giving Tuck my address when I signed up. I don't know whether they'd check that on a new account.

Newbie_John

Unless the giftcard was 5% Im not sure I would bother. Getting giftcard takes time, it can be lost/forgotten etc. (rare with frequent sueprmarket visits though), stops you from visiting other shops, there are limits on what you can spend it - petrol, tobacco, lottery etc.

Chase gives you 2% with no hassle, and you can also use it at Aldi/Lidl etc.

winkowinko

I dunno, topping up a gift card takes seconds, and it stays in the app on my phone.

Whilst there might be a few exclusions (tobacco and lottery are irrelevant to me), there's still a whole load of stuff that I and everyone else do need to buy from supermarkets regularly.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82152586#Comment_82152586

It doesn't take any time, it takes about 30 seconds. For the JL/Waitrose giftcards I take a screenshot and it appears in my photos on my phone and every other Apple device so it's easy to find but you also receive an email with a link and it's also in the giftcard app. For e.g., Apple you can immediately add them to your Apple account by clicking a, "redeem" link so no remembering required. Those exclusions you mention don't concern me.

With Everup and some of the others you can pay by debit card so I've been using my T212 card for another 1.5% (max £15pm).