A&L O/draft

stevemcol

Hi

Sorry if this has been covered. I haven't done any stoozing for ages but this caught my eye. A&L do an interest free overdraft for 12 months, no fee and you don't have to switch any DDs (though they do give you £100 if you use their switching service).
The overdraft limit is reasonable so it's a free stooze.
Now I had an account with them 3 or 4 years ago so I wondered if they'd have me back. They have.

I think the easiest method is use their debit card to pay off an existing card coming towards the end of its term.

Enjoy.

bertboy60

These deals are usually for new customers.

Still worht a try. Good Luck!

YorkshireBoy

Happily still stoozing a £10K A&L overdraft facility, obtained nearly two years ago.

Makes me £240 per year (LTSB Vantage) even after the £5 per month usage fee.

stevemcol

YorkshireBoy wrote: »

Happily still stoozing a £10K A&L overdraft facility, obtained nearly two years ago.

Makes me £240 per year (LTSB Vantage) even after the £5 per month usage fee.

Interesting. So after the 12month interest free period, it's just a flat £5 a month with no additional interest?

If so, I just need to chip away at them to increase my limit?

YorkshireBoy

stevemcol wrote: »

Interesting. So after the 12month interest free period, it's just a flat £5 a month with no additional interest?

Yes. A&L don't do debit interest, just 50p per day when using the facility but capped at 10 days per month.

If so, I just need to chip away at them to increase my limit?

I got mine 9 months into the 12 month introductory period so only had 3 months fee-free usage, but had to 'switch' (a couple of dormant DDs and a hastily set up SO or two) to grab the O/D match.

It's a valuable substitute for traditional credit card fast stoozing (which is difficult to make a profit on at the moment), and currently represents just under half my stooz pot.

stevemcol

YorkshireBoy wrote: »

I got mine 9 months into the 12 month introductory period so only had 3 months fee-free usage, but had to 'switch' (a couple of dormant DDs and a hastily set up SO or two) to grab the O/D match.

I see, you got the 10K OD limit by matching. That would be interesting for me because my current OD limit is the value of my house (OneAccount). I can't see them matching that!

I may just ask them for an increase periodically.

Thrugelmir

YorkshireBoy wrote: »

Makes me £240 per year (LTSB Vantage) even after the £5 per month usage fee.

Thought I read recently that Lloyds are going to stop paying current account interest later in the year.

Seems like the campaign to reduce overdraft interest charges had (what was at the time an) an obvious consequence.

CannyJock

Thrugelmir wrote: »

Thought I read recently that Lloyds are going to stop paying current account interest later in the year.

You'll still get the 4% on the £7000 in your Vantage account. It's the "over £7000" bit that drops from 0.1% to 0%. Though why anybody would keep any sum of money in the account more than £7000 when you're only getting 0.1% is a puzzle.

It's one of those announcements that'll grab a bit of forum attention, but in real-life shouldn't make any difference. I've got a stack of Vantage accounts, so keep a close eye on what LTSB get up to

metalfury

I'm not sure if it still there, but it used to be possible to make a little extra by applying for the A&L account through Quidco . . . . there might of been a referal option too . . . (It was a long time ago I got mine!)