Chase Bank - Anyone here have an account?
Discussion
MRichards99 said:
I was looking on the app this morning and cashback is changing. From March, you'll need to pay in £1,500 each month to qualify for the following month (it used to be £500). I can't find anything about this online but it's in the app, not sure how long it's been there.
Mine is still £500, looks like it is fixed at that until the anniversary date of the account, which is October in my case. I tend to use the savings account as a regular access saver so £1500 won't be an issue, but can see it putting a few off using it.
RoadToad84 said:
MRichards99 said:
I was looking on the app this morning and cashback is changing. From March, you'll need to pay in £1,500 each month to qualify for the following month (it used to be £500). I can't find anything about this online but it's in the app, not sure how long it's been there.
Mine is still £500, looks like it is fixed at that until the anniversary date of the account, which is October in my case. I tend to use the savings account as a regular access saver so £1500 won't be an issue, but can see it putting a few off using it.
As a mildly related aside, we are considering getting a Lloyds account…..Disney+ increased their annual cost by 37.5% this month, which means we will drop it at renewal next month….but if we get a Lloyds account, it (currently) offers it free….well, free if you deposit (I think) £1k pcm.
I see us having a £1-2k ‘pot’ of money just swapping between accounts to get the benefits 🤣
it looks like it’s related to your account ‘anniversary’. my original 1% cash back unlimited ended in may ‘23, then shows my new ‘reward’ of 1% but have to deposit £500 a month ends in may 24.
I guess raising the ££ value to get the reward is just a way to try and get people to put more cash in/ use chase as the ‘main’ account. i’ve been pretty happy with it now (nearly 2yrs using it) so would consider using it as my main account
I guess raising the ££ value to get the reward is just a way to try and get people to put more cash in/ use chase as the ‘main’ account. i’ve been pretty happy with it now (nearly 2yrs using it) so would consider using it as my main account
asfault said:
Little bit of a faf but basicly it's 20 seconds work for £15 a month.
However the moment the cashback is gone there's no extra incentive for me.to use chase for all my daily purchases.
Agreed. I was previously using a Barclaycard that gave 0.5% cashback and switched to Chase. However, with the restrictions on eligible purchases, and £15 limit, the difference isn't all that much, so would go back to BarclaycardHowever the moment the cashback is gone there's no extra incentive for me.to use chase for all my daily purchases.
bad company said:
That’s interesting, not sure I want to pay £1500 monthly into Chase. Their card works really well abroad though and I travel a lot.
Maybe go back to using Revolut.
So just pay in 1500 then next day or straight awy transfer 1000 back out.Maybe go back to using Revolut.
I used to do that with nationwide when they made it minimum ammount to go in.
Now alot of them "need" your primry wage but so far it isnt.
I’ve just had the £1500 a month message, I interpreted it as just £1500 for March then it’s back to £500 but I must be wrong:
“The way you can earn cashback is changing.
Your current cashback offer1 ends at 11:59pm on 12 April 2024 – but with your new offer, you can keep earning rewards on your everyday debit card spending2.
How to qualify for Everyday cashback:
1. To qualify in March 2024:
Pay in £1,500 to any of your Chase accounts - excluding money moved between your Chase accounts
2. If you qualify in March 2024, you'll earn 1% cashback – up to £15 – on your everyday debit card spending2 from 13 April 2024 to the end of the month
To keep earning up to £15 cashback on your everyday debit card spending2 each month, just keep qualifying.”
I’ve moved £1500 from chase to me usual account today, I’ll move it back on Friday. I don’t spend £1500 a month on my chase card, I’ll be going back to using my reward credit card in future I think.
“The way you can earn cashback is changing.
Your current cashback offer1 ends at 11:59pm on 12 April 2024 – but with your new offer, you can keep earning rewards on your everyday debit card spending2.
How to qualify for Everyday cashback:
1. To qualify in March 2024:
Pay in £1,500 to any of your Chase accounts - excluding money moved between your Chase accounts
2. If you qualify in March 2024, you'll earn 1% cashback – up to £15 – on your everyday debit card spending2 from 13 April 2024 to the end of the month
To keep earning up to £15 cashback on your everyday debit card spending2 each month, just keep qualifying.”
I’ve moved £1500 from chase to me usual account today, I’ll move it back on Friday. I don’t spend £1500 a month on my chase card, I’ll be going back to using my reward credit card in future I think.
Slightly annoying, but reckon I’ll still be fine without having to switch-over monthly bills to Chase or redirect my salary from another bank.
In addition to my daily spending from the current account, I’ve created multiple Chase savings accounts for me, the kids, and other future planning/buys, so across them all £1,500 transferred in monthly shouldn’t be an insurmountable hurdle, thankfully (as I like using Chase).
In addition to my daily spending from the current account, I’ve created multiple Chase savings accounts for me, the kids, and other future planning/buys, so across them all £1,500 transferred in monthly shouldn’t be an insurmountable hurdle, thankfully (as I like using Chase).
Earl of Hazzard said:
J210 said:
Chase have very quietly announced they are changing interest rate to a tracker at 1.15% below BOE
Comes in middle of May
Cheers for the heads up! It also states you can put up to a million quid in now.Comes in middle of May
So - bet your bottom dollar interest rate cut in May
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