could someone help please?

lucylou

hi everyone I wonder if anyone could help me please.
I have just started a new job and will be gaining about £1.300 a month.I have an account with LLOYds TSB which is not giving me any interest at all and want to change immediately so I get the best interest.
What I was wondering is:is the best option to open a regular savers account with Abbey National and then get a standing order to go to the Nationwide account every month and another one to go to the Abbey savings account and then what is left to put in an Isa.or is it best to get the standing ordersss from tsb?
Also if I get a credit card and if I pay in full every month i won't have to pay any extra expenses ,right?What is the best deal?Thanks

Walletwatch

Move to Abbey lock, stock and barrel - move your current account there and pay in your salary, they give you a one-off bonus of £40 (I think) for it - set up standing orders with them to move a fixed amount to a regular saver, they have one of the best of those going a 7.07% per annum, for a max investment of £500 per month. Also open up a postal ISA with them - again, they have one of the best interest rates going currently.

Sweetcheeks_3

I would recommend you open up either a Halifax High Interest account or the Abbey High Interest account and save into that every month. I would also suggest you open up a LLoyds TSB online savings account. It doesnt pay the best interest, but its there as an emergency - for unexpected bills and things. I think it pays 4.50% interest whilst its in there (but dont quote me on the figures), and its easy to transfer into from one account to the other. I carry very little cash into my main account because it doesnt gain much in the way of interest. Oh and look into ISA's and stuff, its a bit of light reading for you - but its never been applicable to me as I dont pay tax.

lucylou

thanks everybody.does anyone know as i need to travel for work about once a month but I have to pay and then get reimbursed ,what is the best option for a credit card?tesco?cashback?

Rafter

Tesco card is quite popular. Best cashback deal at the Moment is Morgan Stanley I think.

You can make even more out of a credit card by using a zero % purchases offer. Simply pay for your travel, transfer the amount into a savings account, pay the minimum balance on the credit card and pocket the interest.

At the end of the 0% period simply pay off the balance from your savings or transfer the balance to another 0% offer card and keep on pocketing the interest on your savings.

R.

lipidicman

I would recommend you open up either a Halifax High Interest account or the Abbey High Interest account and save into that every month. I would also suggest you open up a LLoyds TSB online savings account. It doesnt pay the best interest, but its there as an emergency - for unexpected bills and things. I think it pays 4.50% interest whilst its in there (but dont quote me on the figures), and its easy to transfer into from one account to the other. I carry very little cash into my main account because it doesnt gain much in the way of interest. Oh and look into ISA's and stuff, its a bit of light reading for you - but its never been applicable to me as I dont pay tax.

You seem to have the same accounts as me!

Remember you can still use your isa allowance, then if you become a taxpayer you will beneift - if you dont use it YOU LOSE IT

lucylou

rafter wrote 'You can make even more out of a credit card by using a zero % purchases offer. Simply pay for your travel, transfer the amount into a savings account, pay the minimum balance on the credit card and pocket the interest.

At the end of the 0% period simply pay off the balance from your savings or transfer the balance to another 0% offer card and keep on pocketing the interest on your savings. 'I'm sorry but could you explain this a bit better?When you say pay for your travel and then transfer the amount in the savings account which amount are you talking about?what does 'minimum balance' mean?
sorry but I've never had a credit card bedore i've always used debit cards.Do you ususally have to pay your credit card at the end of teh month?How long does it take to get a credit card?
tesco credit card has 0% interest on all purchases until nomber so do you think it is convenient?
thanks for your patience

lucylou

please?