Savings advice

utab007

jimjames wrote: »

If you tell the adviser that you HAVE to protect your capital then they'll find a product that does that.

Far better to have a product where you get the best return/income which may not have a guarantee but is likely to do far better than cash over the long term. I certainly wouldn't keep as much cash as that if it was long term - which this seems to be with the repeated rollovers.

Using income funds inside a S&S ISA you'll be getting 4% plus on your investment. Capital not guaranteed but if you dont need access to the capital and just want best return then that seems like a good option for part of it.

Yes, I have dabbled in shares and done okay in the past. Sure, in long term markets may smooth out, but right now they seem pretty erratic. I held some bank shares, but I was luck enough to get out and make some profit. If I still held I would have lost a good chunk of my capital

Are you suggesting I use up my £15k allowance on a S&S ISA?Which income funds did you have in mind?

utab007

Please help! I've been opening many accounts over the past week and as a result it has hit my credit rating. I tried to open a santander 123 account in joint names today and I got a rejection email back saying the following:

Our decision was made by using a system called Credit Scoring, which looks at all of the information you gave us. We also use information from the credit reference check.

My previous score was 999. I don't understand why I'm being penalised for opening accounts. This credit scoring system does seem right. I only opened these accounts to get a better return on my savings.

Please tell me what I can I do to rectify this?

eskbanker

utab007 wrote: »

Please help! I've been opening many accounts over the past week and as a result it has hit my credit rating. I tried to open a santander 123 account in joint names today and I got a rejection email back saying the following:

Our decision was made by using a system called Credit Scoring, which looks at all of the information you gave us. We also use information from the credit reference check.

My previous score was 999. I don't understand why I'm being penalised for opening accounts. This credit scoring system does seem right. I only opened these accounts to get a better return on my savings.

Please tell me what I can I do to rectify this?

You can do one or more of:

1. Go through Santander's appeal process
2. Get hold of your latest credit file data from one or more of the CRAs and see if there are any inaccuracies, get them corrected if so
3. Wait for a few months and try again, as it'll be the fact that you've made so many credit checks in a short period of time that is likely to have triggered this