Smile - Are they any good?

[Deleted User]

smile is a really good bank and we have happily been a customer of theirs for over 20 years. I don`t like the fact that they have withdrawn cashback on their visa card and as I always pay off, in full, I have applied for an egg money card. 1% cashback plus 4% on cash held in the card

I think smile has shot itself in the foot

kje_2

I have been with Smile for about 6 years and have found them fine.

However, this morning I open my emails to find that my credit card rate has gone from 10.9% to 13.9% and overdraft from 9.9% to 11.9%.

Lovely.

margaretclare

kje wrote:

I have been with Smile for about 6 years and have found them fine.

However, this morning I open my emails to find that my credit card rate has gone from 10.9% to 13.9% and overdraft from 9.9% to 11.9%.

I recently changed from cahoot to smile - well, a couple of months ago. I've just received that same notification. However, as I always pay off the Smile visa card every month and don't use the overdraft, it doesn't worry me.

Margaret Clare

CopperPlate_2

It's not going to cost me anything in the long run - for the odd occasion I use the OD it'll amount to pence over a year - it's the fact that smile champion themselves as offering such a great deal to the customer. Granted, their customer service is usually high standard, but I'm really surprised they've ditched the cashback on the gold visa card - if anything, I'd have thought they would want to retain customers who earned £20k+ but perhaps not if they're not contributing to revenue through interest payments. Just a bit disappointing that it's gone - small though it was it was just a bit like a 'thanks' for holding their card. The OD increase is another example of their sleight of hand when it comes to interest rates. ISA and current account rates have been cut over the last few months with little announcements and a static BoE base rate for months and months so it annoys me a bit when they use the current furore over bank charges as an excuse to hike up their credit card and OD rates, and at the same time ditch the cashback on one of their cards - tempting to ask to be downgraded to the classic card now which still has the cashback but a higher rate of interest...

Anyway, rant over. I have this funny sense of loyalty to smile - no idea why - which is stopping me from taking the bull by the horns and switching to Nationwide where I've got a dormant account sitting.

CP

kje_2

Not going to cost me a great deal but a 30% increase is a bit OTT.

"As of 28th June 2006 we've also reduced the amount we charge customers
on our late payment charge, exceeding credit limit charge and unpaid
cheque/direct debit charge from £25 to £11."

Maybe, everyone is paying more APR to compensate for the loss of income from people who incur charges.

CopperPlate_2

I'd say that was a definite.

[Deleted User]

I applied and have been accepted for a nationwide flexaccount and cc. I ordered them for use abroad but I noticed that the interest added to the flexaccount is 4.25% if £1000+ is placed in every month.

I am keeping my smile account for the time being but I have arranged to move this amount to nationwide every month. Nationwide e saver is offering 4.55%

no contest smile, even though the cs is excellent

susie76

I have just switched to smile, and find that by paying in my cheques at the local cooperative branch, my cheques are clearing in two days (i.e pay in mon, get my hands on the money wed) Fantastic.

JohalaReewi

Went to open a smile current account online (as a backup to my main main current account elsewhere) and got to the end of the process where it says tick to accept the T&Cs. Buried deep in the T&Cs is the requirement that you put at least £1000 a month into the account. I wasn't keen to accept this so asked Smile customer services if this was correct, and they said yes it was.

hansi

This must be something new because I have has Smile account for years now, and I don't put anywhere near £1000 into my account every month.