Switching Whilst Not Working?

sheffieldeagle

Hi

I'm currently taking a break from work and therefore have no income other than my savings. I have a Halifax reward account that is now prime for a switch. What I would like to know is will my current status cause me any problems when applying for a switch? I've done a fair bit of switching and applied for numerous credit cards and never been refused so my credit history is healthy hopefully.

Many thanks

john1002

Nobody knows but having no income other than savings may go against a current account application, depends on who your switching too and their income requirements as well as funding requirements.

John

soulsaver

Never been a problem for me. Are you switching into the Halifax? I did one the other day, switching a donor ac with 2 DDs only - both paying to me (Tesco & YBS) saving acs. Got the £100 & welcome letter in a few days.

sheffieldeagle

I was thinking about HSBC but it appears the monthly sum required has to be salary.

Norscbu

well, you could be self employed and paying yourself

Jo_Blogs

Norscbu wrote: »

well, you could be self employed and paying yourself

Nice - :D

soulsaver

sheffieldeagle wrote: »

I was thinking about HSBC but it appears the monthly sum required has to be salary.

It doesn't, I've just opened one. It asks what your income is, but income isn't necessarily a salary. And the funding doesn't have to be monthly.

sheffieldeagle

I'm currently living off redundancy money Soulsaver. I'm not sure they would like that.

System

sheffieldeagle wrote: »

I'm currently living off redundancy money Soulsaver. I'm not sure they would like that.

They may only offer you the standard current account or basic account.

No_6

It's a bit like being retired, what amount of pension's,
am I getting and reporting.

System

No_6 wrote: »

It's a bit like being retired, what amount of pension's,
am I getting and reporting.

Retired is different to being between jobs.