Ultimate Challenge. 457 days / £16600!!!

killerpeaty

I haven't been keeping up with financial news recently, I've been naughty. I'm playing guildwars 2 instead... It's so additive!

I did see a BBC article on living on a budget, did you see it? It was quite interesting : )

Siouxsie32

Ooh, double BOOM! I just opened a Flex Direct Account as well :rotfl:

I opened it via Quidco to get £70 cashback and was intending to use it for the 5% interest on savings....then it asked if I wanted an overdraft fee free for 12 months - hell yeah!! I applied for £1000 so a) that's a year's worth of interest on one of my credit cards saved and b) I'm still in the market for a savings account as I need to keep my tax money separate!

I was approved for the account after I asked for the overdraft, but the message at the end said they need to run further checks so maybe I'll get the account but not the overdraft - who knows? So, either I'll have an account with a £1000 fee free overdraft and save a load of interest or I'll have an account with no overdraft that I can save my tax money in and earn 5% interest on it. Win-Win!!

Get us with our shiny new accounts :T

liltdiddylilt

Wow Siouxsie, that's excellent news!! Especially on the £70 from quidco! You must have a gold plated credit history my dear I really hope you get the overdraft! I've a fee free £250 on my new current account should I wish to use it but I just don't want to! Still, good to know if I slip in, it is there!

Peaty I didn't see the BBC article. I did see a woman who reminded me somewhat of NSK, talking about feeding her family for £1 a day and the odd meat-free food she creates... Lol.

How long am I supposed to wait between applying for accounts? Obviously the search shows on my history, but how long before it goes? 12 months I think. How long is it safe to wait for before applying, so that they don't think I am a desperate credit hungry person even though it is current accounts we are talking about here.

Siouxsie32

My credit history is a bit ropey in that I owe £24k...however, I've never missed a payment. I'm not sure if I'll get the overdraft or not but it would be good to save a bit of interest somewhere along the way!

I applied for my last current account in February, although I didn't apply for an overdraft with it (don't know if that makes a difference) and I intended to wait another few months before applying for the Nationwide one that I went for today but I figured that I'll not be borrowing for a while so if I get turned down, I get turned down. I've been accepted for the account though, so that may go some way to answering your question lilt??

liltdiddylilt

Yes, it does! Thank you bunches. I think I may transfer a sneaky couple of DD back to my old bank acc when it moves... and then just before the Halifax offer runs out, apply for that to be switched from that account, online. I don't need the overdraft either, so we shall see!!

liltdiddylilt

Double post alert...

Siouxsie. Interesting thing about the Nationwide overdraft. No minimum pay-in required!

''Nationwide's* FlexDirect account has a 0% arranged overdraft for the first 12 months, and reduced fees of 50p/day for arranged overdrafts after that.Never stray more than £10 over your arranged overdraft limit, as there's a £5/day charge for each day you're over, capped at £60/mth. Nationwide'll also charge you £5 for each paid & unpaid use of the account.
There's no minimum monthly income needed to get the 12 month 0% overdraft, however, if you pay off your overdraft and get into credit, then you need to pay in £1,000 monthly to get any interest paid on your balance.''

Siouxsie32

Well spotted! So if I get the overdraft I just sit back and enjoy the savings and if I don't get the overdraft, I add Nationwide to my 10 minute monthly money shuffle!!

Look at us all excited about bank accounts on a Friday night while the rest of the population parties :rotfl:

liltdiddylilt

What exciting lives we lead. I am currently doing reviews on bzzagent as I have 6 campaigns on the go at the moment, so I am trying to keep up and earn 25 tesco points each time I do something towards a campaign. (Christmas savers club )

Rock, and ROLL!

killerpeaty

catriona79 wrote: »

Peaty - I've just subscribed to a course on coursera - thanks sooo much for recommending. I love it already!!!! :beer::T:T:T

Hey, I meant to reply to this yesterday but completely forgot! I browse on my phone during the day for about 1 minute a time. So I read a fair bit then come home and completely forget who, what, why and where. lol. Which course are you on? /nosey

The BBC article on budgeting. I found it a bit depressing and inspiring all in one. I hope you didn't find my ISA maths annoying, I was trying to back you up with maths. Maths has the awesome power of being logical and straight forward when words fail me.

Siouxsie: Yay for new accounts! Can you keep me up with how they're treating you?

liltdiddylilt

Hey Peaty. Just sat and read it. I see what you mean about it being depressing reading. Ironically it is much of the same our beloved NSK & Siouxsie do, and they don't seem depressed to me... I think NSK could sell her challenge to the BBC or Daily Mail as a story. That would be a good little money spinner.

Just look at Jack, the girl who blogs about feeding herself and her son for £10 per week. She's just got a recipe book deal!