have i got enough to start thinking about savings options yet?

YorkshireBoy

colsten wrote: »

What hassle?

http://www.simplerworld.co.uk/Pages/About.aspx

Perhaps dan should have said 'potential problems' (of the type occasionally reported on here) rather than 'hassle'?

I'm on record as saying I'd never switch my main account, even using the CASS. Would you switch yours, if it had your DDs for your mortgage, several credit cards, utilities, and maybe a loan or two on it? Genuine question.

danlightbulb

There is too much going on in my main account and im used to it now. Thats all. Personal preference. Ive no need to switch it have i, if i can continue to use donors. Plus its my long standing bank which may count for something in the future.

colsten

YorkshireBoy wrote: »

Would you switch yours, if it had your DDs for your mortgage, several credit cards, utilities, and maybe a loan or two on it? Genuine question.

I never did, but I would, actually, if it was worth my while. I would absolutely definitely not stay with an account that that pays me less than if I move elsewhere.

The simple fact of having SOs and DDs certainly would not stop me from switching as one of the mainstays of the switching service is that they transfer all of your SO and DDs.

One of the accounts that pays you money that others don't is the Halifax Reward, and you can run this account along others. It's all been talked bout on this forum for some time.

Superscrooge

Some good advice in the earlier posts.

But don't forget that there is no guarantee you will be able to balance transfer your £10,000 credit card debt to another 0% card. So you need to ensure you have sufficient funds readily available to pay off the debt if necessary when the 0% expires.

Paying the standard credit card interest rate on the debt would ruin all your hard work maximising income from the various bank accounts.

danlightbulb

Thanks. I've worked out that over about 4 years it would only add about 8 months to my saving time if I was to pay the credit card debt off as I go along, rather than only paying the minimum and keeping balance transfering. So I'll be doing this.

Will be a shame to see my savings disappear and having to start over each time but I know to look at the whole picture.

jimjames

YorkshireBoy wrote: »

I'm on record as saying I'd never switch my main account, even using the CASS. Would you switch yours, if it had your DDs for your mortgage, several credit cards, utilities, and maybe a loan or two on it? Genuine question.

I have done, twice in 2015. Once from my long term bank when they dropped paying credit interest and then again to Nationwide for their Refer a Friend. I have many, many DD and payments setup and it went pretty smoothly. Huge amounts of paperwork received as every company posted letter to confirm DD setup on new account.