Pound to £5k Challenge

Week Forty

WEEK FORTY

As predicted last week, there has now been a flurry of new offers which have started rolling in before Christmas, so let’s see what we’ve got!

As always, don’t forget that you can check out all emails before this one and work through them at your own pace at the below link!

BANK SWITCHING IS BACK

Bank switching offers are like buses, you wait ages for one and then a handful come along all at once, well this week 2 new offers have arrived!

NATIONWIDE (£175 - £525)

This is the only bank switching offer that can be doubled up as Nationwide will pay you to switch:

• Your individual current account

• AND

• Your joint current account

That means if you and your partner switch an individual account each AND a joint current account then you could get paid 3 x £175 (£525)

CO-OP BANK (£150)

Co-Op Bank is one of those that loves to make you work for the bank switching bonuses, but it’s obviously still worth it as it’s free money!

Their latest offer comes in the form of 1 x £75 payment and then 3 x £25 monthly payments if you continue to use the account “like a normal one”

GOT AN HSBC CREDIT CARD?

ACT FAST FOR UP TO £150!

Unfortunately, this doesn’t look like one that anyone without said credit card can jump on BUT if you are one of the 900,000 who have an HSBC VISA Credit Card (unfortunately, Mastercard holders aren’t eligible)

Check your emails, online banking or mobile app before midnight on 30 September 2024 and opt-in to the 10% cashback offer (yes, 10%!!!)

How does this work?

If eligible, and opted in before the above date, you will be able to receive 10% cashback on spending on groceries, fuel and transport (£50/pm cap) for the next 3 months

There will be a minimum transaction number set by HSBC based on your usual activity, where you will need to make X transactions before cashback starts accruing

This should be made aware to you, and my advice if you don’t think you’ll make the minimum, is to split transactions into more than one if you can

Given these are often the largest costs we incur, it is possible you could receive the full £150 cashback over the next 3 months which could be a huge help in the run-up to Christmas!

Usual reminder

HSBC’s interest rate on credit cards is MORE than 10% so do not spend on this card if you cannot or will not repay the balance in full as you will be WORSE OFF

Spending on a credit card is still using your money, you are just delaying the payment date by around 1 month

HILTON HONORS DEBIT CARDS?

Hilton Honors is a rewards scheme run by the Hilton Hotel group and they have recently released two new rewards debit cards in the UK which piqued my interest as it is rare to get reward debit cards

These come with two tiers which you need to pay an annual fee for (£60 - £150) and in return can earn Hilton Honors points on your spending

Additionally, you automatically obtain either Silver or Gold status, the two main identifiable perks of these are:

Silver: Stay for 5 nights for the price of 4

Gold: Free breakfast for 2 for every night you stay

However, this is obviously going to be a case of weighing up the perks vs the annual fee. If you travel regularly and stay at Hilton properties I would genuinely suggest looking at this card as it could be worthwhile.

ENDS TODAY - ASDA £5 BONUS

Chances are that you already have the ASDA Rewards app, but if you don’t and you are near an ASDA or visiting one today (29 September 2024) then download it and head to ASDA to complete “The Onion Method”

What is “The Onion Method”?

It is my favourite ever hack to trigger a minimum spend offer in a supermarket and it works wonders for the ASDA Rewards app

1. Download the app and sign-up

2. Head into store and find the smallest individual onion you can

3. Head to the till, weigh it and scan your Rewards app

4. Pay for your onion (best I’ve ever done was 6p but it will typically be around 10-20p for a small onion)

5. Almost instantly you should receive £5 into your cash pot

This can be used to get £5 off your next shop (no minimum & no expiry) when you visit ASDA - a great little discount for Christmas!

£5 CASHBACK BONUS - CHEDDAR

Cheddar is an app similar to JamDoughnut and EverUp as you can purchase gift cards to use in-store and online and get cashback on them

However, you can ALSO link your cards to the app and in some stores it will pick up the transaction and pay cashback automatically

Additionally, you can link your bank accounts and it also acts as a bit of a budgeting app where you can track your spending over multiple accounts in one place for free!

How to get £5 bonus

1. Download the Cheddar app

2. Sign up and use the code “ENGINE3”

3. Within 14 days purchase a gift card

4. You will receive a £5 bonus + your cashback

5. Both can be instantly withdrawn to your linked bank account

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