Barclays Premier

Icey370

Hazel_ wrote: »

I'm partial to a Greggs or Maccys (Cheap date haha!). Just read that site and it sounds like I just show the machine the card and I get my big mac

I will check that, but I don't want to use the card, Credit cards sound scary.

How do you mean?

When you see the machine, all you need to do it tap the card on the machine itself (or your wallet/purse (providing you only have 1 contactless within you wallet). Although, I believe sometimes you will need to inform the place of purchase you intend to use contactless.

As for the credit card, just try not to spend what you don't have and don't by anything you wouldn't buy if you didnt have it. If your that concerned you could leave it at home and don't take it out with you (to avoid temptation).

Just remember, now that you and your partner have a joint account, your credit files are associated with eachother.

I believe innovate means that there are much better accounts that give better returns than the accounts Barclays offer. For example, the premier current account has 0% interest on £1+, 0% on £25k+, 0% on £50k+ and 0% on £100k+. Also, the return on savings accounts aren't the best on offer - however, I'm sure there's more to it than just that, I'm sill just a bit of a 'newbie' to this

Icey370

Hazel_ wrote: »

Oh, Is it easy to close a Natwest account? I dont get charged for it, but it has an overdraft?

Im sure there if no harm in keeping it open for now. I myself would keep it open, closing the account would lower the overall age of accounts of your report, not to mention increase your percentage of debt ratio. However, that's what I would do. If you don't intend to ever use it again, you could/should close it.

But remember, you should never keep all your eggs in one basket

Hazel_

They explained we are now linked now. I'm not going to do anything that will make my file bad nor is he, so I don't need to worry.

My partner has a strong bond/link to Barclays, I think because everything was held in trust there and he's never had a problem.

My partner said he uses the card in what he thinks are "suspect" places like some garages and its not his money theyre spending. Is he right?

Hazel_

Icey370 wrote: »

Im sure there if no harm in keeping it open for now. I myself would keep it open, closing the account would lower the overall age of accounts of your report, not to mention increase your percentage of debt ratio. However, that's what I would do. If you don't intend to ever use it again, you could/should close it.

But remember, you should never keep all your eggs in one basket

I got a Lloyds TSB account with the green card, As it had a Visa card when Natwest used to give Maestro cards. So I used Lloyds for internet purchasing.

I'll be keeping that open, As I use it for ebay and amazon

Icey370

If I'm in a 'suspicious' place and don't have cash for a small purchase, then I would definitely use my credit card.

I also always, where possible, use my credit card for online purchases and avoid using my debit card as they cover fraud and faulty purchases of £100+

And that is correct, when using a credit card you are using the banks money whereas with a debit card you use your money! Therefore they are more concerned.

Hazel_

So if I'm somewhere and I don't feel right, I just use the credit card and if the details get leaked its the banks money?

Sorry to sound naive but don't the banks frown upon this? Or tell you its against the rules?

I'm guessing I wouldn't get charged extra for doing things that way?

Icey370

Banks don't frown upon using a credit card, and it's not against the rules. The banks benefit from it via the interest you pay on the outstanding balance. That is why banks like to attract new customers with special offers such as cashback, air miles, 0% interest period, etc.

CKhalvashi

Hazel_ wrote: »

Oh, Is it easy to close a Natwest account? I dont get charged for it, but it has an overdraft?

Walk in and ask them to close it.

CK

Hazel_

CKhalvashi wrote: »

Walk in and ask them to close it.

CK

Thank you :-)

As for the credit card, I mean don't they frown when people use their cards in suspect places to protect their own interests?

Sorry, I assure you I'm not always this dim!

innovate

Icey370 wrote: »

I believe innovate means that there are much better accounts that give better returns than the accounts Barclays offer. For example, the premier current account has 0% interest on £1+, 0% on £25k+, 0% on £50k+ and 0% on £100k+. Also, the return on savings accounts aren't the best on offer

Yes, that's pretty much it. Barclays rarely if ever top any of the interest rates lists for deposits. In other places, for £100K, you could earn some £3K gross in interest a year. For £3K, you can buy a lot of your own lunches.....

Plus, for any investments (as opposed to savings) via Barclays (or any other bank) you pay [normally indirectly] a princely sum to them for the management of the investment, and you generally just have access to the bank's investment portfolio, which is a tiny little selection of the total investment portfolio available in the market.

As an aside, I would never (and I don't) keep more than £85K in any single financial institution because I could lose the lot if the bank goes bellies up. Barclays are not immune to bancruptcy, and even if they got rescued, nobody could expect to get more than £85K of their money back. http://www.moneysavingexpert.com/savings/safe-savings

Hazel_ wrote: »

So if I'm somewhere and I don't feel right, I just use the credit card and if the details get leaked its the banks money?

If I were somewhere I don't feel right, I would leave immediately and not buy a thing there! But if you do buy something with a credit card, you usually have to pay for it eventually.

What you might be referring to is that if your card gets stolen/lost, you are only liable up to a low amount (usually £50) after you reported the loss/theft to the bank. That is the same for credit and debit cards.

You might also have heard about "Section 75" protection, which gives you an "insurance policy" on purchases over £100. You can read more about it in this thread: http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases

There's also a whole MSE section on credit cards - might be worth reading through this since you a re a CC newbie. http://www.moneysavingexpert.com/cards/

Pls, there is a CC forum: http://forums.moneysavingexpert.com/forumdisplay.php?f=11