santander 123 current / credit card.

lowmiles

Dear all,
It's about time I shopped around for a new bank account after 123 account has become less and less appealing (£5 account fee negates any cashback benefits). Can i keep my 123 credit card if I switch my current account elsewhere?

Thanks Tom

Candyapple

lowmiles wrote: »

Dear all,
It's about time I shopped around for a new bank account after 123 account has become less and less appealing (£5 account fee negates any cashback benefits). Can i keep my 123 credit card if I switch my current account elsewhere?

Thanks Tom

Yes.

However, why would you want to keep the card anyway? The new rates are rubbish:
https://forums.moneysavingexpert.com/discussion/5558305

lowmiles

Thanks.I pay it off in full each month so I don't care about the rates, I think the cashback earns me more than the fee on the CC.

Neil_Jones

You are aware the maximum you can ever earn on the 123 Credit Card is £6 a month? (£9 across the three tiers minus £3 monthly fee)?

Depending on how much you spend in supermarkets, department stores and petrol stations you can most certainly do better elsewhere.

YorkshireBoy

lowmiles wrote: »

I think the cashback earns me more than the fee on the CC.

You only "think"? Probably best to find out for sure before making any decision.

DeterminedSingleMummy

I switched mine to a 123 lite account which is only has a £1 fee and still earns u cashback. So I can still have a 123 creditcard and the monthly saver at 5% interest.

Neil_Jones

DeterminedSingleMummy wrote: »

I switched mine to a 123 lite account which is only has a £1 fee and still earns u cashback. So I can still have a 123 creditcard and the monthly saver at 5% interest.

Your choice but I'll still say to you you can only ever earn a maximum of £6 a month on the 123 Credit Card. You don't need the card for the monthly saver by the way.

Candyapple

lowmiles wrote: »

Thanks.I pay it off in full each month so I don't care about the rates, I think the cashback earns me more than the fee on the CC.

So you definitely 100% spend £300pm at supermarkets, £150pm at department stores and £100pm on travel/petrol EVERY SINGLE MONTH?

If the answer is no, you are wasting your money.

I'm wondering if you realised that the card's cashback limits changed back on 1st Feb 2017?