Natwest Advantage Gold Account

cheddar

Hi there, I currently have a Ad Gold account with Natwest which I pay £10 a month for (could have sworn it was a quarter) but don't really use the benefits it gives. The only help I got was a loan for £3k which got rid of my Credit Card and overdraft as they were costly. I have a poor credit score which I am currently sorting out and the only place I could get a loan was with the bank based on my good use of the account iyswim.

Anyway my question is because I got a good loan rate for having the Ad Gold a/c if I asked them to change it back to a normal Current Plus a/c would it affect my loan rate? Have just rang up and spoke to 2 different people at NW would couldn't help!!! ARRGGG! I hate ringing them!

Thanks in advance!

doogie

I have a normal Primeline and when I was applying for a loan they told me I could knock a point off the interest if I signed up for gold, or if I applied online rather than over the phone, so I did it online for the same rate for free..... I'm guessing based on that, that they won't change your loan rate

Slayerx

The adv gold accounts are normal a bit of a scam as the rates online are normal the same as the rate offered at Adv gold rate.

cheddar

I wasn't aware of that at the time otherwise I would have gone for it!

Millie68

Hi cheddar, I work for natwest so all you have to do is put it in writing that you wish to downgrade from Ad. Gold to a current plus account as you are not geting value for money from the account. There will be no affect to your loan as you have signed a credit agreement for the term of the loan. so there will be no change to payments or interest rate. if you are cancelling within 90 of upgrading your account you will get your subscriptions back so far. hope this helps.

cheddar

Oh thanks Millie, I thought that woulld be the case but wanted to make sure. I will write the letter tonight! Cheers again. !!!! :T

lewolf

Millie68 wrote:

Hi cheddar, I work for natwest so all you have to do is put it in writing that you wish to downgrade from Ad. Gold to a current plus account as you are not geting value for money from the account. There will be no affect to your loan as you have signed a credit agreement for the term of the loan. so there will be no change to payments or interest rate. if you are cancelling within 90 of upgrading your account you will get your subscriptions back so far. hope this helps.

Millie,

I have an Advantage gold current account and took my Natwest Mortgage out with a preferential rate due to this. The discount runs for another 11 months with AG until it reverts to normal variable rate.

I would like to get rid of my Advantage Gold account and switch to a much better current account with another bank. Would I still be eligible for the discounted rate on my Mortgage, even though I wouldn't have an AG current account anymore?

Thanks

Helen

cheddar

I wrote the letter and sent it off, only for the bank to 'lose' it. Humph, so I rang up and was told by my branch that it would be better off for me to come in and re-shuffle my loan around as the new AVG rates were coming out on 7th April, so might as well get lower loan rate and rhen cancel the AVG. Does that sound right or are they going to try and talk me out of/into something???

virgin_moneysaver

cheddar wrote:

I wrote the letter and sent it off, only for the bank to 'lose' it. Humph, so I rang up and was told by my branch that it would be better off for me to come in and re-shuffle my loan around as the new AVG rates were coming out on 7th April, so might as well get lower loan rate and rhen cancel the AVG. Does that sound right or are they going to try and talk me out of/into something???

be aware when you do go in that the monthly subscription is going up to £12 per month from the end of April

Slayerx

Wow when I worked at Natwest it was just £9 a month, I felt even then the benifits were not that great unless you borrowed money or had a mortgage with the bank.

cheddar

Its £10 now and I got a better loan rate but never used anything else thats why iwanted to cancel it.