Thoughts on what I should do.

Cyrus

Hi guys, just looking for some opinions on what is the best plan of action to take for paying/buying my holiday.

I currently have a First Direct Regular Saver in which I am paying in £300 a month, half from my salary and half from my AA ISA and then on to the Premium Bonds. The Regular Saver will be available by March 2013 and we're looking to go in May.

We're thinking of buying the major things like plane tickets and major hotels at the moment to make sure that we get the dates we need. Obviously my money is tied up in the regular saver but I was thinking of getting one of the 0% credit cards that are currently on the market to pay for the flight etc.

If this plan is a good one then the only issue I'm worried about is that I applied and successfully got the 0% Tesco credit card back in February (We wont be using this credit card for the holiday), would I be declined a new credit card because of my recent application?

Any opinions and ideas welcome,

Cheers

Deru

You're taking money out of your ISA to put in your Regular Saver? That doesn't sound like a good thing to do...but anyway...

It's been 4-5 months so it shouldn't be a problem if all your accounts are up to date and you don't have any missed payments, not using all your credit / Overdraft, have regular income, etc. I hear that 3 months is a good space between applications.

stephane_2

Deru wrote: »

You're taking money out of your ISA to put in your Regular Saver? That doesn't sound like a good thing to do...but anyway...

It's been 4-5 months so it shouldn't be a problem if all your accounts are up to date and you don't have any missed payments, not using all your credit / Overdraft, have regular income, etc. I hear that 3 months is a good space between applications.

Regular Saver with First Direct is at 8% after 12 months monthly deposit....not bad really, far better that any ISA around.

Cyrus

stephane wrote: »

Regular Saver with First Direct is at 8% after 12 months monthly deposit....not bad really, far better that any ISA around.

Yeah the ISA is only 3.05% but the Regular Saver is 8% so even after tax its still beats the ISA, and I've only just started to save so have no lump sum I could stick in the ISA to start off with.

Cyrus

Deru wrote: »

You're taking money out of your ISA to put in your Regular Saver? That doesn't sound like a good thing to do...but anyway...

It's been 4-5 months so it shouldn't be a problem if all your accounts are up to date and you don't have any missed payments, not using all your credit / Overdraft, have regular income, etc. I hear that 3 months is a good space between applications.

3 months, Awesome. Will get on it tomorrow.