Best account

Alexdozza

Hi all

Spending some time rejigging my accounts to make best of what I have. I have no savings at present hopefully this will change but for now..

I have a Halifax current reward current account, a Halifax reward credit card and a basic second current account

I also have a hat west account that I plan to upgrade to rewards and switch eligible dd's to this from main Halifax current account. This should make me 40 odd quid after fees

Iplan Ilan to use reward credit for all spending and pay off from Halifax reward by ddI also plan to keep rent payments with Halifax to meet their requirements.

I then plan to use basic Halifax to setup two dd's ( either to a savings account from T. Or pay a 0% credit card I have with T ). Once setup and running I plan to switch this to get switching bonus ( currently thinking of FD ) to use savings account for anything left. Or should I open a Halifax HTB ISA ?

Obviously will have to setup various SO to/ from each account to filter my salary to appropriate account

Can anyone see any flaws or any better options ?

Doctor_Duke

You could get a Natwest Reward Credit Card. They wave the £24 fee if you have the Reward Current Account? Then get more cashback. Natwest do a pre eligibility assessment to rate your chances of a successful application.

Eco_Miser

If you intend to buy a house, and meet the eligibility conditions for the Halifax HTB ISA, then open one. A reasonable 4% interest, plus the government's 25% bonus massively beat any other saving (except a pension).

Alexdozza

Thanks for the replies.

If I open a Halifax htb ISA. What would be a better option to replace the first direct current account ? ( only really was planning to use it for the switch incentive ). The savings account was a bonus

Doctor_Duke

Nationwide is a good bet with the Flex Direct Current Account, 5% interest for the first 12 months. They also have a Flexexclisive regular saver. The benefit of this saver account is its 5% but for a regular monthly amount of up to £500. A lot higher than most. You have to hold a current account like the Flex Direct though. They also have one of the better mobile apps IMO. Certainly better than FD! I should have also said that if you know someone who already has a Nationwide account get them to 'recommend a friend'. When you switch then you both get £100. Do read the T&C's though as I believe the account you switch from will need to have 2 active DD's.