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Goodbye A&L, hello Barclays!
DizzleUK
Posts: 569 Forumite
Anyone who has been keeping up will be aware that I have been looking for another bank account to replace A&L as they transform into Santander.
I consider myself a sub-prime customer who has spent a long time repairing my credit rating to the point where it now shows 8 accounts (including old closed accounts) all satisfactory except for my Orange account whom I have 4 one month late payment markers in non consecutive months in 2009. I also have one default left for £111 due to drop off in August this year.
My accounts with A&L are "prime" accounts and the joint account has an overdraft of £200.
Last month I applied for my first choice of accounts with HSBC only for them to decline me straight out. :mad:
So I looked around for another, basing my decision on things like customer service, online banking facilities and how they have weathered the credit crunch and the quality of their Basic Bankk Account should I be unsuccessful for a "normal" account. I chose Barclays and applied online last Thursday.
I will point out I had a Barclaycard with them that I defaulted on around 8-9 years ago (back in the days when I was a !!!!!! with money- all grown up and responsible now though).
Today I got home from work to find a letter from Barclays informing them I had been successful for their grown-up account and to complete their forms and post them back when they will open the account and send me all the bumph :T.
I chose not to take an overdraft as I really hate them and are nothing but trouble if you have a modest income (as I do), so I'll just get the chequebook and full debit card.
My partner will probably try to get an account too, he also has a default with Barclays (around about the same time funnily enough, even though we hadn't met yet back then) and if he is successful then we'll move the joint account over too.
Interestingly enough, I failed the Barclaycard pre-checker last month, so will try that again once the default drops off at the end of August.
Barclays staff are wonderfully friendly in my local branch too (I currently pay a couple of bills over the counter in there each month.)
:beer:
PS Anyone know what sort of timeline I'll be looking at to receiving my bits from them? I'll post the forms tomorrow so they will have them by Friday.
I consider myself a sub-prime customer who has spent a long time repairing my credit rating to the point where it now shows 8 accounts (including old closed accounts) all satisfactory except for my Orange account whom I have 4 one month late payment markers in non consecutive months in 2009. I also have one default left for £111 due to drop off in August this year.
My accounts with A&L are "prime" accounts and the joint account has an overdraft of £200.
Last month I applied for my first choice of accounts with HSBC only for them to decline me straight out. :mad:
So I looked around for another, basing my decision on things like customer service, online banking facilities and how they have weathered the credit crunch and the quality of their Basic Bankk Account should I be unsuccessful for a "normal" account. I chose Barclays and applied online last Thursday.
I will point out I had a Barclaycard with them that I defaulted on around 8-9 years ago (back in the days when I was a !!!!!! with money- all grown up and responsible now though).
Today I got home from work to find a letter from Barclays informing them I had been successful for their grown-up account and to complete their forms and post them back when they will open the account and send me all the bumph :T.
I chose not to take an overdraft as I really hate them and are nothing but trouble if you have a modest income (as I do), so I'll just get the chequebook and full debit card.
My partner will probably try to get an account too, he also has a default with Barclays (around about the same time funnily enough, even though we hadn't met yet back then) and if he is successful then we'll move the joint account over too.
Interestingly enough, I failed the Barclaycard pre-checker last month, so will try that again once the default drops off at the end of August.
Barclays staff are wonderfully friendly in my local branch too (I currently pay a couple of bills over the counter in there each month.)
:beer:
PS Anyone know what sort of timeline I'll be looking at to receiving my bits from them? I'll post the forms tomorrow so they will have them by Friday.
Remember this: nothing worth doing is easy.
0
Comments
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Right I'm new to barclays too the timescale 4-8 working days should be right and congratulations too :money::D:D0
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With barclays you have two kinds of borrowing on the accounts.
The first is a normal authorised OD with set interest rates and limit.
Behind this is the reserve limit, this is £22 per week if used.
BOTH are optional.
IF there is ANY chance of you going overdrawn then have the normal OD option this is much cheaper than the reserve especialy if the borrowing becomes longer term(more than a week).
If you do not whant the OD, then consider carefully if you have the reserve it may be better to take the hit of single charges for missed/stopped payments.
A small reserve is bordering on useless if any problems will take you over this anyway, if you want an OD or reserve they need to be big enough to cover unexpeted undbudgeted amounts.
Think of the reserve as a similar catagory to payday loans.0 -
I decided before I opened the account that I will opt out of the Reserve. I hate overdrafts and have never had one of my own and never will.
The overdraft on the joint account was not of my doing- I came home from work one day to find my partner had requested it. Unfortunately he is not as savvy with finances as I am and is very much a "spender". I'm working on getting rid of the overdraft, and have got him to cut up his Vanquis card before that gets any more out of control than the £1000 already on it.
It's an uphill struggle, which I fight by making sure my own position is a strong one.Remember this: nothing worth doing is easy.0 -
I decided before I opened the account that I will opt out of the Reserve. I hate overdrafts and have never had one of my own and never will.
The overdraft on the joint account was not of my doing- I came home from work one day to find my partner had requested it. Unfortunately he is not as savvy with finances as I am and is very much a "spender". I'm working on getting rid of the overdraft, and have got him to cut up his Vanquis card before that gets any more out of control than the £1000 already on it.
It's an uphill struggle, which I fight by making sure my own position is a strong one.
I think you have a brill attitude, I went bankrupt over 6 years ago, got myself on the wagon, but my addiction still lurks, so have to watch myself:eek:0 -
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