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Iceland bonus card

pompeygazza
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Iceland bonus card

#206975

Postby pompeygazza » March 11th, 2019, 1:24 pm

not strictly a savings account (as you can only spend it in Iceland) but for every £20 you load onto the card they'll add an extra pound. So 5% interest. Bunged a grand onto mine at the weekend as I spend a bit in there, the checkout girl nearly had kittens! (I suspect they get some commission).

pochisoldi
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Re: Iceland bonus card

#206978

Postby pochisoldi » March 11th, 2019, 1:53 pm

pompeygazza wrote:not strictly a savings account (as you can only spend it in Iceland) but for every £20 you load onto the card they'll add an extra pound. So 5% interest. Bunged a grand onto mine at the weekend as I spend a bit in there, the checkout girl nearly had kittens! (I suspect they get some commission).


I think you've slipped up there:
"The maximum amount of Savings (including bonuses) allowed on your Bonus Card is £1,000."
https://www.iceland.co.uk/bonus-card/terms-and-conditions/

So there's a good chance you now have a £1000 balance, no bonus, and no way of extracting the money other than spending it at Iceland.

My tactic is to load on whatever I'm going to spend next time rounded up to the next £20. Anything else stays in a savings account either earning interest at >1.5% or offsetting my mortgage if I can't earn anything better.


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