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Post by p2pgirl on Jan 17, 2019 16:18:50 GMT
Just logged in to see that there is a new cashback offer for funds invested before 15th February.
It 1% for standard investment and 1.25% for IFISA - the funds need to stay invested through the end of 2019 to be eligible.
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ganymede
Member of DD Central
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Post by ganymede on Jan 17, 2019 16:55:03 GMT
This might be fine for those with extra money. It's doesn't do much for the loyalty of existing lenders.
Myself I see it as a reason to take everything out of AC and find somewhere else to put the money at least until the next round of cashback offers.
Holding 11 months to get just 1% cashback, when I can get many % higher rates just doesn't add up either. Too many cashbacks with long holding terms will have the opposite effect rather than attract money it will put off the existing lenders. The question needs to be asked are we the existing lenders now getting poorer rates because of the cashback to attract new money.
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IFISAcava
Member of DD Central
Posts: 3,664
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Post by IFISAcava on Jan 17, 2019 18:09:40 GMT
This might be fine for those with extra money. It's doesn't do much for the loyalty of existing lenders.
Myself I see it as a reason to take everything out of AC and find somewhere else to put the money at least until the next round of cashback offers.
Holding 11 months to get just 1% cashback, when I can get many % higher rates just doesn't add up either. Too many cashbacks with long holding terms will have the opposite effect rather than attract money it will put off the existing lenders. The question needs to be asked are we the existing lenders now getting poorer rates because of the cashback to attract new money.
Agreed. I predicted this would happen, and would have withdrawn the money I had in one of my AC accounts in anticipation, but unfortunately had miscalculated my rolling 30-day withdrawals, which mature tomorrow, so have missed it.
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mason
Member of DD Central
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Post by mason on Jan 17, 2019 18:56:31 GMT
I withdrew all mine over the festive period just to be on the safe side.
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rscal
Posts: 905
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Post by rscal on Jan 17, 2019 20:21:45 GMT
Yes, it is a marginal offer, and I won't be availing myself of it as I intend to cap my investment at the required level to get the 1% payable in June. After that I would be free to reduce balances again. A further tie-in period just doesn't work for me.
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lara
Posts: 345
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Post by lara on Jan 17, 2019 21:07:33 GMT
These bonuses are great if they happen to coincide with existing investment plans but I don't let them influence how much I invest and when.
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Post by df on Jan 17, 2019 22:16:46 GMT
Just logged in to see that there is a new cashback offer for funds invested before 15th February. It 1% for standard investment and 1.25% for IFISA - the funds need to stay invested through the end of 2019 to be eligible. I've recently decided not to take any more offers of this kind, especially from AC because I already have 18% of my p2p in this platform (too high for my liking). I do think it's a good offer for many investors. For example, if one is looking at 1 year investment @6.1% (6.35% IFISA)... comparing to RS, for instance, this is much better offer.
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sl75
Posts: 2,092
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Post by sl75 on Jan 18, 2019 7:39:34 GMT
Looks like chris and his team are beta-testing code on the live site again rather than having previously tested it on an offline system...
I don't have an IFISA, but the amount of increase in my standard account is showing under the total marked
IFISA Account
1% + 0.25% IFISA bonus eligible balance
... with a zero in the section marked
Standard Account
1% Eligible balance
Also both are showing "(£0.00 starting balance)"
Do I need to enable 2FA to get the correct totals on this promotion, or are the same problems showing for everyone?
Edit: this is now displaying correctly, so either an overnight process hadn't completed, or it's been fixed.
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Post by Ace on Jan 18, 2019 9:35:15 GMT
I have a couple of AC accounts. Both have standard and IFISA investments and the eligible balances are correct for both.
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Post by hammertime on Jan 18, 2019 10:32:06 GMT
I think they need to put there interest rates up before everyone leaves.I'm ok with my interest at the moment but when it starts to drop i will be off to platforms anew.
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blender
Member of DD Central
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Post by blender on Jan 18, 2019 12:49:11 GMT
I think they need to put there interest rates up before everyone leaves.I'm ok with my interest at the moment but when it starts to drop i will be off to platforms anew. This happens to coincide nicely with a planned increase of funds as I leave FC, where repayments are becoming optional and no security is taken. So if going to platforms anew, guess where not to go?
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Post by hammertime on Jan 18, 2019 13:01:22 GMT
Thats great news for you. I know what you mean i was with F/C for about four years until they changed things and defaults got worse. I got out about 18 months ago and only a couple of hundred pounds left with them i'm glad to say.
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Post by bikeman on Jan 21, 2019 21:31:18 GMT
With so many defaults how are these promotions being funded? Mr Ponzi?
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cb25
Posts: 3,521
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Post by cb25 on Jan 22, 2019 9:07:22 GMT
My account shows just over £20 eligible for cashback despite having invested no new money into AC, just invested the interest paying out of the account.
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Post by Ace on Jan 22, 2019 9:11:34 GMT
My account shows just over £20 eligible for cashback despite having invested no new money into AC, just invested the interest paying out of the account. Yes, reinvested repayments count. At least they did for previous campaigns (I haven't checked the Ts & CS this time). It's simply a rise in your overall amount invested between the two dates.
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