Yes, at the end of the day most bank accounts offer near as makes no difference no interest (a couple of banks do offer a bit more with stipulations) and savings accounts don't offer not much more. I did a test a while back and 30 days of interest on a Natwest current account I have by putting £3000 in it. I earned less than £1 in that period and it's the main reason why I plan to get shot of them in the near future. So 3 times the cash required by a Halifax account earned much less than 1/5 in interest and the money in the Halifax account can be moved out as it counts so long as it was deposited. Edit: My understanding of the figures was incorrect it's http://www.halifax.co.uk/bankaccounts/current-accounts/reward-current-account/ So a couple of low end DD's for some basic things and you can easily turn having an account into a money spinner.
Is that instead of receiving credit interest, or in addition to it ?
You have to have a rewards current account with them so in effect I will get once it's all up and running Personal reward Current Account - £5 reward Joint reward Current Account - £5 reward Clarity Credit Card Account - - £5 reward All I have to do is, pay wages in to my account (min £1000), transfer £1000 to the other reward account and back again, a standing order makes this easy to do. Then spend £300 on the credit card. It's well worth getting the accounts in my book for the minimal effort and £180 I will get back out of it. All I have to do is convince my other half who also banks with Halifax to upgrade their existing account to a rewards one too and then we'd earn £240 a year just for banking with them and a small amount of effort moving funds about. https://www.hotukdeals.com/deals/halifax-clarity-credit-card-2131879 Lazy link from earlier this morning about the clarity card.
I agree - I've been with Aqua since it was 3% and was annoyed when it was reduced. I'm now just stuck on 1% (with another card), although 4% for supermarket and petrol. Out of interest - how do you get this reward with the Clarity Card, as I couldn't see the reward side mentioned. Thanks
Halifax Clarity among others and all options depend on how much you spend as to which is best, plenty of comparison sites showing the available options MSE for one. My real issue is the fact they dropped the cashback so heavily from 3% so it used to be a 6 times higher cashback rate and all of it was with very little warning. Tied to the pitiful credit limit they offered me was irritating, clearly it was just to limit people spending. When it came to the end they offered the following. So they offered me the same card, the same credit limit, increased interest rate from 29.9% and lower reward level. I enquired about a credit limit increase and was told that I would not be able to get one on the new account. This was the straw that broke the camels back for me considering my wages have stagnated without increase for the last 3 years and I today (as a result of this post so thanks for that kick up the behind) applied for a Halifax Clarity Card (£5 reward for spending £300 = 1.6% cashback effectively) and got a limit of £2800 instantly approved. All the while my credit rating has been pretty well unchanged. I feel that Aqua clearly are trying to avoid customers who will never not pay in full and rely on them at some point paying fees. As I posted, I've not voted either way as it's neither a good deal, but also at the same time it's not a bad one, it's just the rate most everywhere is offering. The best option is to use a combination of these types of cards, I'll use my Halifax one up to the £300 spend requirement and then use another existing card for all other spending that I get 1% rewards (in Amazon vouchers) that's also no longer available to be applied for but the bank hasn't decided to close all the accounts on the deal.