Legal & General £85 cashback on S&S ISAs

Fire_Fox

Mine is presently still open, pending the £85 payout. I was thinking of leaving it but I assume the £85 is only open to new customers, so would need to close the ISA and start from scratch via a different cashback site?

stphnstevey

Looking at this and thought I would see if it was in the forums and bobs your uncle, it's right at the top!!

THIS IS NOT A CASH ISA - YOU COULD LOSE ALL OF YOUR INVESTMENT

That said, even if you se no return on £200 invested, the £85 is equivilent to 42.5% interest!!!

You could even afford a £85 loss and still break even - this COULD happen and worse though, so be sure you have the money to gamble, but the odds look fairly good!

I have a few questions for others who have tried this before if you don't mind
- is the 4 months contributions enough for the cashback?
- have you used different cashback sites in subsequent years with no problems?
- if you open this one, can you still invest in other S&S ISA's in the same tax year upto your maximum for the year?
- Wasn't there some problems with L&G going under a few months back?

Dagobert

I presume this only works if you closed last year's account?

I opened mine this time last year but the UK100 tracker lost in value so I decided to hold on to it.

Dagobert

stphnstevey wrote: »

- is the 4 months contributions enough for the cashback?

yesjkgfajkfj

pukkapie

anyone got any tips on which is thir best ISA?

turbobob

stphnstevey wrote: »

- if you open this one, can you still invest in other S&S ISA's in the same tax year upto your maximum for the year?
- Wasn't there some problems with L&G going under a few months back?

Can answer these two anyway,

- No, you can only have one S&S ISA per tax year
- No

Aegis

pukkapie wrote: »

anyone got any tips on which is thir best ISA?

There isn't a best ISA when it comes to stocks and shares ISAs. You basically need to read through the funds that are available and decide for yourself where to invest.

snarffie

I signed up to the L&G tracker isa in March, and the £85 quidco has tracked. I put in £500, and it's now at about £525 after the first month.

My view was that this may not be the best long term (ie. 5-10 years) tracker, but the £85 does compensate for this, based on my low investment of £500. I never put in more than £500, so I think it's an excellent investment, and the £85 hedges your 'bet' quite nicely imo.

If you want to invest in a variety of funds or shares over the longer term, your should look at alternatives which have more on offer. This is what I'm trying to work out this year.

It appears that the L&G trackers are lower/middle of the table for performance, but remember the £85 bonus and the potential low amount that needs to be invested. You could even start with a low investment, collect your £85, then transfer out to another isa provider! The likelihood of losing £85 on a 5x£50 investment is pretty damn small imo.

lynzpower

Ive had mine, which has made quite a substantial loss, over the last year -and I did fill with the full 7k but then again its a stock market tracker so what do I expect :rolleyes: in fairness it has recovered somewhat but IM about 1.5k down. However, im reinvesting my units, so that is also part of it.

I got the quidco CB in 07-08, no problem.

For those with outstanding Quidco payments, quidco are paying from 07 at the moment what has never been agreed by the merchant- keep a look out- Ive had about 100 quid from outstanding tickets that Id totally forgot about over the last 2 months- nice

snarffie

lynzpower wrote: »

For those with outstanding Quidco payments, quidco are paying from 07 at the moment what has never been agreed by the merchant- keep a look out- Ive had about 100 quid from outstanding tickets that Id totally forgot about over the last 2 months- nice

I'll second that. I had a payment of £50 dating from December 2006 which was paid last month! I'd given up the ghost on that one, but fair play to Quidco, they paid up when I suspect there was a genuine issue with the merchant anyway.