Barclays blue rewards

Jamsi
Jamsi Posts: 117 Forumite
in Budgeting & bank accounts
Does anyone have Barclays blue rewards on their bank account?
The person that served me in the bank said I am missing out and should have it but I didn’t have time to discuss it with him so just told him I will leave it for now.
Is it worth getting? I believe you have to pay to have it but then they give you some back or something?
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Comments

  • ricky_v
    ricky_v Posts: 330 Forumite
    First Post First Anniversary Combo Breaker
    You get free £4/month (£7/month minus £3/month account fee).


    You need 2 direct debits and pay in £800/month. Used to get £9/month until I remortgaged away from Barclays.


    https://www.barclays.co.uk/current-accounts/blue-rewards/



    However if you switch another current account to blue rewards the rewards double for a year so you'll get £11/month.


    https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#barclays
  • litepay
    litepay Posts: 45 Forumite
    I do have it, and I'm getting double rewards at the moment. I get £21 per month, as I also have a mortgage with them.

    So yes, if you already have a Barclays account it's also worth it. Switch on the blue rewards by 31 Oct to benefit from the "double rewards for 1 year" offer.
  • Flobberchops
    Flobberchops Posts: 1,279 Forumite
    First Post Combo Breaker First Anniversary
    Basically as the others have said. £4 a month net tax-free cashback after the monthly fee taken, currently 12 months double cashback being offered for switchers, and the opportunity to receive extra if you have home insurance, a mortgage or a personal loan with Barclays, or if you use their Barclays Cashback when making online purchases.
    : )
  • DennisTenus
    DennisTenus Posts: 483 Forumite
    First Anniversary First Post
    I was looking at this the other day... I don't really get it... you pay a fee but get more back? Why don't they just make it fee free and lower the cashback?

    I looked at the Premier option too... can I pay in (and out) around £4300/month from one of my other accounts to cover the 75k income?
    To join Premier, you’ll need a minimum of £100,000 saved or invested with us – or an annual gross income of £75,000 or more paid into a Barclays current account.
  • badmemory
    badmemory Posts: 7,788 Forumite
    First Anniversary Name Dropper First Post
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.
  • KTF
    KTF Posts: 4,820 Forumite
    First Post Combo Breaker First Anniversary
    DennisTenus wrote: »

    I looked at the Premier option too... can I pay in (and out) around £4300/month from one of my other accounts to cover the 75k income?
    It looks like the application for premier is online. Assuming they dont ask for proof of salary then a manual transfer in and out every month should work just like every other account that has a funding requirement.
  • DennisTenus
    DennisTenus Posts: 483 Forumite
    First Anniversary First Post
    badmemory wrote: »
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.

    CCJ for what?? Sorry must have missed something!
    KTF wrote: »
    It looks like the application for premier is online. Assuming they dont ask for proof of salary then a manual transfer in and out every month should work just like every other account that has a funding requirement.

    Yeah I hoped this, I did ask them on twitter and they just replied with what it says on the website!
  • litepay
    litepay Posts: 45 Forumite
    badmemory wrote: »
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.

    I wouldn't say it's for nothing. I'm currently getting £21 (for up to 1 year), then it will be £9 after that. I'm not even counting the cashback..
  • soulsaver
    soulsaver Posts: 5,968 Forumite
    Name Dropper First Anniversary First Post
    @litepay: You don't fit with his example in the quote.
    Top Easy Access acs Ranked by rate: Top of The Pots - **No Chat** — MoneySavingExpert Forum
  • EarthBoy
    EarthBoy Posts: 3,040 Forumite
    Name Dropper First Post First Anniversary
    badmemory wrote: »
    They rely on people starting this & then changing their financial arrangements & forgeting to cancel the fact that they are pay out every month for nothing. A couple of years down the line you will have moved house & then wonder why you have a CCJ from them showing on your credit file.

    You won't be paying out for nothing because:

    If you earn less in rewards than the monthly fee

    We may cancel Barclays Blue Rewards if the rewards you earn are less than the monthly fee. We’ll monitor the rewards you’re earning and we’ll contact you to give you 2 months’ notice before cancelling.


    https://www.barclays.co.uk/current-accounts/blue-rewards/
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