Any decent rates?

vintagebrighton

Hi, I have a poor credit history (bankrupt 2008) so am finding it difficult to get a decent rate for my savings. At the moment I have an ISA (1%) and savings with a credit union and premium bonds, neither of which have a % interest as such.

The problem is, all the decent rates come with current accounts or savings accounts attached to current accounts, none of which I'm eligible for.

Is it possible to get a decent interest rate on your savings if you have a poor credit rating? Or is this something else I'll just have to put up with?

Thanks

VB x

kingrulzuk

Not being Rude but Dont you think you should pay back what you O?

Thrugelmir

vintagebrighton wrote: »

Hi, I have a poor credit history (bankrupt 2008) so am finding it difficult to get a decent rate for my savings.

Nobody is getting good rates on their savings. Other than on current accounts. Unless you are prepared to lock in for a longer term.

vintagebrighton

kingrulzuk wrote: »

Not being Rude but Dont you think you should pay back what you O?

You are

I'll humour you though ~ I don't owe anything as it went in the bankruptcy and if you think that's an easy option that's your perogative. I have no control over what you think.

Thanks for the input though.

YorkshireBoy

If I'm reading your signature correctly, you owe family £7K+. Why not increase your repayments there and let someone else worry about interest rates?


But with a bankruptcy from 2008 your file will be 'cleaner' now/early 2015? That should increase your options (if you decide not to go with the above)...unless you're asked on the current account application forms "have you ever been made bankrupt?" Are you?

vintagebrighton

YorkshireBoy wrote: »

If I'm reading your signature correctly, you owe family £7K+. Why not increase your repayments there and let someone else worry about interest rates?


But with a bankruptcy from 2008 your file will be 'cleaner' now/early 2015? That should increase your options (if you decide not to go with the above)...unless you're asked on the current account application forms "have you ever been made bankrupt?" Are you?

Yes, you're right although I'm paying them monthly and putting away money for a lump sum for them. That's the way they wanted to do it, not my preference.

I've not applied for any current accounts as I don't think I'll be accepted and I don't want any rejections on my file.

Thanks anyway

VB x

ColdIron

If you are declined it will not appear on your 'file' with the CRAs, only the credit checks themselves

Archi_Bald

vintagebrighton wrote: »

I don't want any rejections on my file.

All that would show on your file is a credit search. Credit files do not record whether your application has been successful or declined.

So unless you are planning to apply for credit any time soon, and you know (do you?) that your credit history is in good shape, you have nothing to lose by applying e.g. for the 5% TSB Plus account.

vintagebrighton

Thanks, I didn't realise that. I'm definitely not applying for credit but will check my files and maybe apply for a current account in the new year. Seems to be the only way to get a decent(ish) rate on savings!

VB x