The 'I want it NOW!!' debt/savings thread

moneymabel

I'm having pizza as well yum yum!! I'm so stupid i hadn't thought of my ISA rate dropping-bummer, when is it going to happen anyone know?

yukkibear

Just popped on quickly to let you all know that Bingo port does pay. I got £10 amazon voucher today - Yay!!!!!!!

It does require effort, time and a lot of luck but you do get something out of it

lilmissmup

moneymabel wrote: »

I'm having pizza as well yum yum!! I'm so stupid i hadn't thought of my ISA rate dropping-bummer, when is it going to happen anyone know?

Probably tomorrow though HSBC took about a week or so to change mine last time, 2% drop for me in 2 months :rolleyes:

Gonna see how things go though and might just open a fixed rate account somewhere if it does drop that much.

moneymabel

well done Yukki=good news!!!!

just been on the alliance and leicester site and noticed my ISA has already dropped from 6% to 5.5%!! this must have happened before this rate cut and they didnt tell me-what do i do? are they all going to drop or can i find a ISA with better interest?

lilmissmup

How long you had the ISA MM, they probably dropped it at the last cut which is what happened to me.

You can only pay into 1 ISA per year so you can either stick with it or move the money to another higher paying account but pay tax, dependent on the rate you could still be better off than having an ISA. I would wait it out and see what happens over next few days though.

moneymabel

I can transfer it coz i asked on the ISA board ages ago, supposedly if you transfer you can pay into the new one coz the old one will be shut and therefore doesnt exist anymore, but i dont know if i can be bothered!! i know that sounds terrible but i was all geared up to look into this next April not now!!

Spose i'll have to though :-(

lilmissmup

Ah i wasn't sure on that transfer thing, thought you can only transfer one years ISA into the next one?

moneymabel

No, supposedly you can transfer halfway through a year if you want. Confuses the hell out of me!

jenjade

i think you can open one a year (have one open every year) so you can open one transfer it about if you want but you only have one open as you close one to open another.

I would just leave it there is i was you mm it is still gaining interest and you are paying no tax?!if you had thousands i recon it would be worth moving it but as things are i would bother with the hasstle also all the rates will probably come down so unless it is fixed rate you won't gain

lilmissmup

I am gonna see how it goes over next few days.

You feeling any better today Jen?