The Nationwide Flex account OR Natwest Step account?

The_Offside_Rule

Good afternoon all,

I have a terrible credit history from mistakes I made when I was a bit younger, less wise, and much poorer!

I have been running a basic Nationwide account very responsibly over the past 26 months but recently I've questioned whether a Natwest Step Account would be viewed more favourable to creditors.

If I did have a Step account alongside my Nationwide account, would it be wise to use it as a sort of savings account? 'd put about £50 in each month by direct debit.

Thanks to you all in advance! :money:

alanq

"Step Account" is no longer on offer. Any previously existing such accounts have been converted to the nearest equivalent which is a "Basic Account". http://www.natwest.com/personal/current-accounts/g1/basic-account.ashx

The_Offside_Rule

Thanks for replying.

Should I go for the Natwest option or stick with Nationwide?

Thanks again.

pmduk

Note that with the Natwest basic account you're restricted to using RBS Group ATMs.

The_Offside_Rule

Oh no. I didn't know that.

Would the Natwest account be better for me as I'm trying to rebuild my credit profile.

rb10

rdf1988 wrote: »

I have been running a basic Nationwide account very responsibly over the past 26 months but recently I've questioned whether a Natwest Step Account would be viewed more favourable to creditors.

Why would creditors know or care what sort of account you have?

Both are basic accounts. One of which (Nationwide) lets you use any ATM, the other (Natwest) restricts you to RBS ATMs.

If you are hoping to open a 'standard' current account one day, this will probably be easier at Natwest, as Nationwide are a pickier over their customers.

carryonjulie

If you can get an account with another bank/building society go for it. Keep the Nationwide one alongside as they will probably be sold off in the end and it would be a shame to miss out on a couple of quid.


I have held a Nationwide account for many years, never been in trouble with them but because of debt that an ex left me in - which I am now in control of - they don't let me have any credit at all even though my credit score is pretty good.

Hominu

rdf1988 wrote: »

I've questioned whether a Natwest Step Account would be viewed more favourable to creditors.

No because they wouldn't know if you had such an account or not, as they've no idea what accounts you have.

Likewise, they don't know what type of credit cards you have.

What they do know is your credit limits, repayment history, missed payments, etc.

Archi_Bald

carryonjulie wrote: »

Keep the Nationwide one alongside as they will probably be sold off in the end and it would be a shame to miss out on a couple of quid.

Even if they were to be "sold off in the end" - for which there is no obvious reason so far, you wouldn't get a pea if you opened your account after 1997. Whether any of the pre-1998 accout holders would get any money is also highly questionable.

But the whole subject is academic, anyway. Time to live in 2013.

gezza2k

if you haven't missed any payments in a few years why not try and get the halifax reward account, switch your account and get £100.

System

The Nationwide account seems to suit your needs.
I don't see how creditors would view a NatWest basic account as better.

rdf1988 wrote: »

Thanks for replying.

Should I go for the Natwest option or stick with Nationwide?

Thanks again.