Current Account that I can work like my smile one

AlistairS

I have been with smile for 7yrs now & am happy with service but could get better deals elswhere (having browsed this site).

Does anyone know of any other banks that allow you to make more than 1 payment a month to your credit card ?

Basically, I purchase everything on my smle visa to get cashback. So I tend to do transactions then immediately go to my bank account & pay off the card even before the funds are shown as being taken on the account.

Was intested in the BoS high interest account with the £100 bonus but that would be no good to me if I couldn't pay of a CC like I do with smile.

Any advice feedback greatly appreciated

Hazzanet

AlistairS wrote: »

Does anyone know of any other banks that allow you to make more than 1 payment a month to your credit card ?

You can do this with all credit cards. I do it with Nationwide, Smile, Co-op and Morgan Stanley.

AlistairS wrote: »

Basically, I purchase everything on my smle visa to get cashback. So I tend to do transactions then immediately go to my bank account & pay off the card even before the funds are shown as being taken on the account.

Was intested in the BoS high interest account with the £100 bonus but that would be no good to me if I couldn't pay of a CC like I do with smile.

Why not keep the smile CC and just transfer the current account across? You can then make daily/weekly payments across to the smile credit card from internet banking.

AlistairS

Thanks for the advice - I can get better deals on cashback with other credit cards eg egg?

So if I went for the BoS high interest current acc & say the egg card I should be OK to keep using the same system as I am now albeit with different banks/lenders?

Hazzanet

Yes - you probably want to look at the Egg Money card. In fact, they positively encourage a positive balance anyway, so even if you charged the card up at the beginning of the month with cash and used it as you went along, they wouldn't mind.

Although Egg Money pays interest on positive balances, it's worth seeing where the better interest is (i.e. whether in the BOS account or Egg), although in my experience, the difference only ever tends to be pennies every month.

HTH

AlistairS

Hazzanet wrote: »

Yes - you probably want to look at the Egg Money card. In fact, they positively encourage a positive balance anyway, so even if you charged the card up at the beginning of the month with cash and used it as you went along, they wouldn't mind. HTH

Sorry, perhaps I'm not explaining properly how I use my CC. Eg on Saturday I went to town & did various transactions on my CC. I came home, logged in to smile & paid the transactions off before they had cleared. Tonight I'll probably do some other transactions & pay them when I get home too. So I need the flexibilty of perhaps making payments to my CC account every other day rather than loading money into the CC at the start of the month. Is this possible with other CC companies & banks?


I currently have a deposit, current, mini ISA & CC with Smile

TIA

for any advice

[Deleted User]

I do something similar but I use a savings account as an intermediary. Basically whenever I use my credit card I transfer an equal amount from my current account into a savings account. Then when my credit card statement arrives I simply pay with the money that I have temporarily stored in the savings account (via the current account if needed).

It is similar to how you work but I still get the benefit of a little bit of interest as the balance on the credit card will be interest free (as I make a full payment every month) and the balance sitting in the savings account (which is equal to the credit card balance) is working for me.

Hazzanet

AlistairS wrote: »

[...] I need the flexibilty of perhaps making payments to my CC account every other day rather than loading money into the CC at the start of the month. Is this possible with other CC companies & banks?

Yes. The setup world work fine with BOS and Egg Money.

AlistairS

Hazzanet wrote: »

Yes. The setup world work fine with BOS and Egg Money.

Thanks

Have applied for a capitalone cashback card & been accepted & also applied for the BoS high interest account - now to look at my mini ISA & deposit account next