2011 mfw

Froggy-G

Afternoon all! :j

No 78 reporting for duty

OP of £150 this morning... Finally on the right track for 2011! (no OP's in January :mad:)

Have a great day!
Froggy :rotfl:

golfiematt

switching bank accounts can go againt you in a credit check as just to warn you.

HarveyGal

No. 144: OP of £400.
Thanks Cake and Good Luck everyone.

fluffysox

"Fluffysox - You are closing some accounts - are you going to be opening up new? If so have you checked out the current switching offers around - between £50 and £100 to move accounts (See MSE Banking page). Are you a Halifax Reward Account customer? £5 a month. I've also got a Halifax Clarity Card as well (Which I took out after I closed my old Halifa Credit Card) £5 a month for spending £300. All mounts up. NatWest gave me £150 for switching current accounts 18 months ago and I'm consdering switching again this year to reap another £100 somewhere," curlygirl.

Hi Curlygirl,
We already have Halifax reward accounts x5 (£25 a month) and OH has just got a Halifax reward credit card which we'll use for petrol etc to spend £300 a month and this gives you £5 reward. Not sure we'd spend £600, but might get another in my name at some point.
I have a First Direct account- which will be getting closed as part of our sort out so I can't switch to them. One of the reasons I'm closing the accounts is to allow a switching bonus in the future. I'll have a look though to see if there are any available to us at the moment- otherwise we're happy with the Halifax accounts.

"switching bank accounts can go againt you in a credit check as just to warn you" golfiematt

Hi Golfiematt, I've done this every 18 months on average, likewise changing credit cards to get new customer 0% deals etc. It's never affected my credit. I think this is more if you apply for more than one source of credit in a short period of time e.g. a couple of credit cards and a current account with overdraft. When remortgaging etc I would always cancel any unused cards etc first and not apply for new ones.

fillyfop

No.33 checking in....

Hmm, I just calculated that I pay just over £10 a day in interest (saw how to calculate it on another thread). Which makes me grateful that I just took on the earn an extra £10 a day challenge in the DFW forum!
However, next month I have to give £30k back to my mum which she leant me to help reduce my mortgage interest but she needs it back, so I know the charges are going to jump significantly (an extra £4 a day!)

However....I cashed in some shares which hit my account today so hopefully as long as I don't touch it, I will have at least hit my MFW target for Feb.
My statements come out 18th of each month so I've decided to count my Dec/Jan statement as January, otherwise my Jan total won't be ready until almost March!!

So, I'm going to add a £393.78 overpay as my January total. Not as much as I'd like, but I really think Feb will be a good one

curlygirl1971

fluffysox wrote: »

"Hi Curlygirl,
We already have Halifax reward accounts x5 (£25 a month) and OH has just got a Halifax reward credit card which we'll use for petrol etc to spend £300 a month and this gives you £5 reward. Not sure we'd spend £600, but might get another in my name at some point.
I have a First Direct account- which will be getting closed as part of our sort out so I can't switch to them. One of the reasons I'm closing the accounts is to allow a switching bonus in the future. I'll have a look though to see if there are any available to us at the moment- otherwise we're happy with the Halifax accounts.

My goodness.....you could run a Masterclass!

golfiematt

Hi Golfiematt, I've done this every 18 months on average, likewise changing credit cards to get new customer 0% deals etc. It's never affected my credit. I think this is more if you apply for more than one source of credit in a short period of time e.g. a couple of credit cards and a current account with overdraft. When remortgaging etc I would always cancel any unused cards etc first and not apply for new ones.

what i meant was that if you had an account for 10 years with 1 bank it a smaller risk than if you keep changing bank accounts. From the lenders point of view. This can affect the ability to get a mortgage/ loan. It may not be a problem but i just thought id point it out.

cake21

golfiematt wrote: »

what i meant was that if you had an account for 10 years with 1 bank it a smaller risk than if you keep changing bank accounts. From the lenders point of view. This can affect the ability to get a mortgage/ loan. It may not be a problem but i just thought id point it out.

I'd be interested in other people's opinions on this. I always thought it was an urban legend based on back in the day when loyalty was rewarded. Now the lender can see your repayment history for all institutions via Experian etc isn't that more relevant in assessing your risk profile?

Hypocrite alert: I've been with the same bank for >10 years because I can't face changing even for the £100 bonuses :rotfl:

gallygirl

Part of it is that every time you change accounts there is a credit search done on you and that does count against you.

knithappens

£118 for me this month again, hoping to up this next month to a new regular over payment - fingers crossed