So you know it's not going to be good news when you get an email from your bank with this as the main graphic....
I've had a Barclays account for as long as I can remember, and subscribed to the Blue Rewards around a couple of years ago.
It costs £5 a month, but you get £5 cashback a month for subscribing, so it's basically free (Lloyds to something similar).
And having a Blue Rewards membership entitles you to certain benefits, most interestingly a 5% instant access savings account for up to £5K.
That's literally the only thing I'm interested in!
So as soon as I opened it I transferred, well, £5K right on over and have been skimming the £20 and odd interest a month into another account, no point having a penny over £5K, the interest rate for > that drops to 1%!
It's been good, the problem is they are now changing their Blue Reward terms....
So for £5 you now get access to Apple TV and American Soccer. The true value of the later to a European is very close to £0. And I'm not interested at all in streaming TV from Apple, there's not a lot on there TBH.
OK true I do get the 5% account, but there's LOTS of offers at around the 4.5% for instant access....
They're not even the best deals, they're the one's I've heard of.
Actually I've got an Oak North 90 days notice account which pays 5.3% which I'm gonna transfer all this Blue Reward Saver money into when the changes come into effect in early September...
The simple math....
- £5K at 5% = £250 a year.
- £5K at 4.5% - £225 a year.
- £5 times 12 months = £60.
- £60 - £25 = £35.
The question Barclays wants me ask myself is... 'is Apple TV worth £3 a month?'
The answers is... NO!
However the question I'm asking myself is 'WTF is this bullshit offer about, you're a fucking bank.
Banks be banks, don't be doing these STUPID membership deals, I don't give a shit.
I took the time to write a draft email.....
Soft Draft Email....
Dear Sir or Madame,
Thank you for the notification about the changes to Barclay's Blue Rewards.
I have made the decision to cancel my membership of Blue Rewards as I don't give a gnat's toss about Apple TV or American soccer.
Thank you,
Yours sincerely.... [insert name here]