How long do I need to keep account open after receiving incentive?

YorkshireBoy

graspthenettle wrote: »

Thanks Westie (and for everyone else who took the time and effort to reply. I'm not sure how I missed reading the info about the £5 a month, but what I am now wondering is, if I start putting money into my Halifax account and doing the direct debit thing, will the £5 start automatically or should it have been something I did when I first opened it?

Spurious question thrown in while I'm here - when I was opening a Lloyds account (to replace my Natwest that they also closed, damn these people!), I was told that because I have so many current accounts - I like to keep my monies seperate for different things - I would be considered a bad credit risk. Why is this? I don't owe anything on them, they are all in a healthy state, albeit not a vast amount of money, why should the fact that I like to use different places for convenience count against me?

You may have to redesignate the account a Reward account. What is it currently called within your online area?

Re the number of accounts, earlier this year I had well over 30 of them and it didn't seem to affect my credit rating. Having said that, if you were going for a mortgage or other crucial lending, you perhaps wouldn't want so many accounts/searches in the run up.

graspthenettle

YorkshireBoy wrote: »

You may have to redesignate the account a Reward account. What is it currently called within your online area?

Re the number of accounts, earlier this year I had well over 30 of them and it didn't seem to affect my credit rating. Having said that, if you were going for a mortgage or other crucial lending, you perhaps wouldn't want so many accounts/searches in the run up.

Hi, thanks YorkshireBoy, have just been to check and mine says 'current account' but invites me to 'upgrade' to a reward account, so I'll get onto that.

Much appreciated, thanks everyone!