The Money Thread...

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Curls
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PostRe: The Money Thread...
by Curls » Sun Apr 15, 2018 1:57 pm

poshrule_uk wrote:
Curls wrote:
poshrule_uk wrote:For anyone who uses current accounts to get maximum interest on savings Club Lloyd's and Bank of Scotland have announced they are cutting interest down from 2% to 1.5% from 1st July.

https://www.lloydsbank.com/current-acco ... ntAccounts

https://www.bankofscotland.co.uk/bankaccounts/vantage/



Well that's a bitch. It's amazing how TSB, Tesco and nationwide can offer such good rates whilst the others around them make cuts.


Tesco 3% is guaranteed until April next year and Nationwide 5% is only for a year which I have already used.

The glory day's of current accounts paying high interest is coming to an end.

I think regular saver's may be the next best bet.


Aye, i've used my nationwide up too. I may get the paid for account for all the insurance and stuff...mobile phone insurance alone will save me money, I break a phone every 6 months :fp:

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Curls
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PostRe: The Money Thread...
by Curls » Sun Apr 29, 2018 12:33 am

Sooo does anyone have a Nationwide flex plus account?

I've recently got one. How does the insurance and stuff actually work? Do I need to register my car details for breakdown, phone details for MOb and personal details for travel insurance? I have opened the account very easily but was expecting to be asked for much more info in regards to the insurance.

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Return_of_the_STAR
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PostRe: The Money Thread...
by Return_of_the_STAR » Sun Apr 29, 2018 12:47 am

Curls wrote:Sooo does anyone have a Nationwide flex plus account?

I've recently got one. How does the insurance and stuff actually work? Do I need to register my car details for breakdown, phone details for MOb and personal details for travel insurance? I have opened the account very easily but was expecting to be asked for much more info in regards to the insurance.


I have one. For the travel insurance you Are automatically insured and your account number is your insurance membership number should you need to claim. I believe it covers any children of yours automatically as well. On the vehicle front I believe you just have to be in the car, so you can use the recovery for other peoples cars if you are with them when they breakdown. On the mobile front, I’ve no idea if you have to register your phone I’ve never even thought about it.

You may want to double check all this as they have occasionally amended the benefits of the account so I wouldn’t be surprised if somethings changed and I haven’t been aware.

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Curls
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PostRe: The Money Thread...
by Curls » Sun Apr 29, 2018 1:15 am

Return_of_the_STAR wrote:
Curls wrote:Sooo does anyone have a Nationwide flex plus account?

I've recently got one. How does the insurance and stuff actually work? Do I need to register my car details for breakdown, phone details for MOb and personal details for travel insurance? I have opened the account very easily but was expecting to be asked for much more info in regards to the insurance.


I have one. For the travel insurance you Are automatically insured and your account number is your insurance membership number should you need to claim. I believe it covers any children of yours automatically as well. On the vehicle front I believe you just have to be in the car, so you can use the recovery for other peoples cars if you are with them when they breakdown. On the mobile front, I’ve no idea if you have to register your phone I’ve never even thought about it.

You may want to double check all this as they have occasionally amended the benefits of the account so I wouldn’t be surprised if somethings changed and I haven’t been aware.


Thanks for the info, what a wonderful account! I'll get the £100 referral bonus, and then the 3 % interest from the £2500 in there will cover the rest of the charges. So basically i'm getting all my insurance for the year for free.

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Dowbocop
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PostRe: The Money Thread...
by Dowbocop » Sun Apr 29, 2018 9:32 am

Curls wrote:
Return_of_the_STAR wrote:
Curls wrote:Sooo does anyone have a Nationwide flex plus account?

I've recently got one. How does the insurance and stuff actually work? Do I need to register my car details for breakdown, phone details for MOb and personal details for travel insurance? I have opened the account very easily but was expecting to be asked for much more info in regards to the insurance.


I have one. For the travel insurance you Are automatically insured and your account number is your insurance membership number should you need to claim. I believe it covers any children of yours automatically as well. On the vehicle front I believe you just have to be in the car, so you can use the recovery for other peoples cars if you are with them when they breakdown. On the mobile front, I’ve no idea if you have to register your phone I’ve never even thought about it.

You may want to double check all this as they have occasionally amended the benefits of the account so I wouldn’t be surprised if somethings changed and I haven’t been aware.


Thanks for the info, what a wonderful account! I'll get the £100 referral bonus, and then the 3 % interest from the £2500 in there will cover the rest of the charges. So basically i'm getting all my insurance for the year for free.

I'm with Nationwide as well.

The phone insurance is with Lifestyles Group. I used them with Barclays and they were okay. Apparently you don't have to register your phone with them but it will be quicker to use them if you do. I haven't yet but I have the ripped off corner of my phone box on my desk for when I get round to it!

I used the breakdown cover last month and it was good. My wife says it's tied to the person not the car.

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Meep
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PostRe: The Money Thread...
by Meep » Tue May 01, 2018 10:58 am

Question regarding savings. I opened a new ISA this year but have subsequently closed it due to bad service without having ever put any money in. Does this count as having opened an account this year and do I now need to wait until the next year before I can make use of an ISA again?

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Peter Crisp
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PostRe: The Money Thread...
by Peter Crisp » Tue May 01, 2018 11:14 am

I'm pretty sure that you have to put money into an account for it to be activated for that year as that's what Nationwide does whenever I put money in for the first time in a year.

They have this little notification message that I never read :shifty: .
I've had my ISA since they started going in 1999 so not bad really :wub: .

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Meep
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PostRe: The Money Thread...
by Meep » Tue May 01, 2018 11:34 am

Yeah, I used nationwide before now but I was trying to change to a LISA as it's a better rate of return when you consider the state contribution. My Nationwide savings account has 5% interest which is actually way better than any standard ISA on the market, so there is no point of continuing to put money into my standard ISA seeing as interest on savings is tax free up to £1000 anyway.

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poshrule_uk
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PostRe: The Money Thread...
by poshrule_uk » Tue May 01, 2018 1:21 pm

For anyone affected by tsb they are putting the interest rate back up on the current account to 5% for existing customers

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PostRe: The Money Thread...
by Glowy69 » Wed May 02, 2018 8:06 am

Meep wrote:Question regarding savings. I opened a new ISA this year but have subsequently closed it due to bad service without having ever put any money in. Does this count as having opened an account this year and do I now need to wait until the next year before I can make use of an ISA again?


Youll be fine. You have to pay into one for you to be stuck with the bank for the tax year.

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Curls
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PostRe: The Money Thread...
by Curls » Wed May 02, 2018 12:36 pm

poshrule_uk wrote:For anyone affected by tsb they are putting the interest rate back up on the current account to 5% for existing customers



Amazing news.

I didn't even try to log in during the period and now I get more interest :-D

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Joer
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PostRe: The Money Thread...
by Joer » Thu May 24, 2018 9:57 pm

Probably a stupid question, but I have a credit card that I never use anymore with about a year left until it expires. Is there any benefit to my credit rating by having that still and not using it or should I just get it closed down?

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Errkal
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PostRe: The Money Thread...
by Errkal » Thu May 24, 2018 10:03 pm

I would close it, it sitting there does nothing using it a bit and paying it off each month would be of benefit though.

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Joer
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PostRe: The Money Thread...
by Joer » Thu May 24, 2018 10:06 pm

I've already got two credit cards and about £3k of a debt i'm trying to blitz through so I want as few cards as possible to remove the temptation of buying more gooseberry fool I don't need and sticking it on the credit card really. I'll get it closed down if it doesn't effect anything, cheers.

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Tomous
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PostRe: The Money Thread...
by Tomous » Thu May 24, 2018 10:07 pm

Joer wrote:I've already got two credit cards and about £3k of a debt i'm trying to blitz through so I want as few cards as possible to remove the temptation of buying more gooseberry fool I don't need and sticking it on the credit card really. I'll get it closed down if it doesn't effect anything, cheers.


Just cut it up then you can’t use it...

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PostRe: The Money Thread...
by Errkal » Fri May 25, 2018 7:15 am

Tomous wrote:
Joer wrote:I've already got two credit cards and about £3k of a debt i'm trying to blitz through so I want as few cards as possible to remove the temptation of buying more gooseberry fool I don't need and sticking it on the credit card really. I'll get it closed down if it doesn't effect anything, cheers.

Just cut it up then you can’t use it...


Yeha but you still have an open credit account in your account. It's better if you aren't using it to get rid. Especially in the modern age of buying online cutting the card up doesn't stop gooseberry fool.

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shadow202
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PostRe: RE: Re: The Money Thread...
by shadow202 » Fri May 25, 2018 7:26 am

Errkal wrote:
Tomous wrote:
Joer wrote:I've already got two credit cards and about £3k of a debt i'm trying to blitz through so I want as few cards as possible to remove the temptation of buying more gooseberry fool I don't need and sticking it on the credit card really. I'll get it closed down if it doesn't effect anything, cheers.

Just cut it up then you can’t use it...


Yeha but you still have an open credit account in your account. It's better if you aren't using it to get rid. Especially in the modern age of buying online cutting the card up doesn't stop gooseberry fool.
Plus if you have an open credit card and don't use it then it will negatively effect your credit file

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Tomous
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PostRe: RE: Re: The Money Thread...
by Tomous » Fri May 25, 2018 9:28 am

shadow202 wrote:
Errkal wrote:
Tomous wrote:
Joer wrote:I've already got two credit cards and about £3k of a debt i'm trying to blitz through so I want as few cards as possible to remove the temptation of buying more gooseberry fool I don't need and sticking it on the credit card really. I'll get it closed down if it doesn't effect anything, cheers.

Just cut it up then you can’t use it...


Yeha but you still have an open credit account in your account. It's better if you aren't using it to get rid. Especially in the modern age of buying online cutting the card up doesn't stop gooseberry fool.
Plus if you have an open credit card and don't use it then it will negatively effect your credit file


Not necessarily, it depends on who’s reviewing your credit file. Some look at high available credit negatively while others look at your utilisation-how much you’re using of your overall balance. If Joer has credit card debt elsewhere, his unused balance is going to improve his utilisation %. There’s not a clear cut answer from my understanding.

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Albear
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PostRe: The Money Thread...
by Albear » Fri May 25, 2018 9:57 am

It's better to keep the credit card open because a lot of the Credit reference agencies look at how much you are using your available credit. So it's better to show that you are using 20% of credit available to you than closing a credit card and your utilization going up to say 80%


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