Chase UK Chat (Part 2)

[LordRec]

@8XE

I’m guessing you don’t have the required discipline to stooze a 0% CC? It’s not something I’ve ever done, but I hear that plenty of people do this.

Would you even make much money on that? Assuming a 3% fee you’d be rolling the dice on interest rates staying stable or locking yourself into a fix which could be a pickle if the bank calls the balance back.

@8XE

Avoiding any credit is always best.

Easiest by far to avoid debt troubles. Too many use it as a way to get through the day, without thinking about the interest they now have to pay.

[8XE]

@LordRec

Would you even make much money on that? Assuming a 3% fee you’d be rolling the dice on interest rates staying stable or locking yourself into a fix which could be a pickle if the bank calls the balance back.

I wasn’t suggesting it as a means to make money.

[LordRec]

Oh, you mean they buy something they want and then stooze the balance on the card in savings to reduce the purchase price?

[LordRec]

@AlanDoe I can’t actually send a message, but you forgot this one.

[Doug_hboy (Always be alert because the World always needs lerts.)]

The obsession with interest should be less when your interest is taxed.

[Carlo1460]

Nano doesn’t have those HNW accounts though

[mikez]

@Carlo1460

Nano doesn’t have those

I thought it was Recchan not Nano Op. Unless they were the same person, too.

[Carlo1460]

So much going on, we will never know

[Doug_hboy (Always be alert because the World always needs lerts.)]

What is Nano?

[Carlo1460]

Someone who used to have that name on here.

[Doug_hboy (Always be alert because the World always needs lerts.)]

Thanks. And there’s me thinking it was along the lines of YOLO or FOMO

[Orinoco]

The mystery of cashback qualification continues - I had an Amex direct debit from a savings account count towards the transaction total, and after asking chat they confirmed it is supposed to count them. So maybe I was actually right before lol. Now trying to find out why the two on the 1st didn’t seem to count.

[Orinoco]

Seems weird to me, but apparently direct debits from savings accounts should count.

[tired (I I don’t need your rockin’ chair)]

@Orinoco

Now trying to find out why the two on the 1st didn’t seem to count.

Won’t you be able to make 15 card transactions, as that is how you get the cash back?

[RSheff]

@tired

Won’t you be able to make 15 card transactions, as that is how you get the cash back?

You don’t need to make 15 card transactions. It’s 15 payments by either debit card, credit card, or direct debit.

[tired (I I don’t need your rockin’ chair)]

Yes I know that, but it is few DDs they are having issues with, card transactions can cover for that. Except if they only intended to make 15 DDs this month and no card transactions so that they qualify for July.
In the hunt for cash back, you end up making way more transactions on the card exceeding the requirement.

[Georgia]

Santander’s new rewards credit card release with 3% cashback on very similar transaction categories to chase (and including abroad if the MCC tracks correctly) has made my decision very easy that I won’t be going back to everyday banking with Chase for the cashback!

Will keep the credit card until the 0% period ends then I’m off, in my efforts to simplify my current set up. Will probably keep the account dormant though, just in case.

[tired (I I don’t need your rockin’ chair)]

@Georgia

Will probably keep the account dormant though, just in case.

This will work. I think you can throw in a random transaction every 6 months as they may get crazy and start closing dormant accounts. Since they support standing orders (unlike Algbra), just leave there a £1 and send 1p to yourself every 6 months.

[Orinoco]

I will do yeah, but others have asked about whether the direct debits from savings accounts qualify as it hadn’t counted them, so was just trying to get an answer from Chase on what does and doesn’t contribute