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Santander 123 Credit Card
w00519772
Posts: 1,297 Forumite
in Credit cards
Please see the question here: https://forums.moneysavingexpert.com/discussion/5377147
I have a Santander 123 current account, which I am thinking about switching from.
I also have a Santander credit card and I am wandering what to do with this when I transfer away from Santander? The balance of the card is around £1400. I could easily pay this off, however I do not want to at the moment because it is interest free credit.
What shall I do with the credit card when I transfer away from Santander?
I have a Santander 123 current account, which I am thinking about switching from.
I also have a Santander credit card and I am wandering what to do with this when I transfer away from Santander? The balance of the card is around £1400. I could easily pay this off, however I do not want to at the moment because it is interest free credit.
What shall I do with the credit card when I transfer away from Santander?
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Comments
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Can't you just keep the credit card?Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.0
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tempus_fugit wrote: »Can't you just keep the credit card?
Yes, I believe I can. I was just wandering about other options.0 -
You can keep it, but at some point it will cost £3 a month.0
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Well, I guess it depends how much time you have left on the 0% deal, and whether you can get a new card with a longer deal and transfer the balance to that card. It's the only other thing that comes to mind.
Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.0 -
Good point. Another card would probably not have the charge so it might be beneficial to change cards.You can keep it, but at some point it will cost £3 a month.Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.0 -
What shall I do with the credit card when I transfer away from Santander?
Keep the Santander 123 credit card until its interest free period ends, then close it if you no longer want it?
AFAIK you can have the 123 credit card without the 123 bank account.
If you want to keep a no fee bank account with Santander you could open an Everyday account or downgrade your 123 account to one: http://www.santander.co.uk/uk/current-accounts.0 -
tempus_fugit wrote: »Can't you just keep the credit card?
Yep you can keep the card and all its cashback benefits after you switch current account, there's no requirement to also have the 1-2-3 current account.
When you switch current account all your direct debits should automatically switch too, but do just double check that all payments go out on time from your new account.0
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