How to earn the max interest from the different bank accounts there??

veryintrigued

trinidadone wrote: »

You do know all debt is not bad debt right?

Colsten is trying to help you.....

trinidadone

veryintrigued wrote: »

Colsten is trying to help you.....

and no one suggested Colsten was not, I was merely asking a question.

TheShape

trinidadone,

I think it was your phrase 'I have a number of CC in the red at the moment, so my credit rating is not great!!' that made it sound like the debt was problematic, or at least that you were carrying an interest bearing balance.

In post #4 you said 'I have a number of CC on interest free periods' which I assume is an accurate description and one that suggests a debt that isn't problematic.

PRAISETHESUN

Unless they've changed the T&Cs recently, when switching to HSBC you can use standing orders OR DDs... so if you have any DDs on HSBC then get them moved over to Halifax before the switch and set up £1 SOs to yourself.

As for how to manufacture more, check the thread below. Plenty of good ideas if you are prepared to sift through all the posts: https://forums.moneysavingexpert.com/discussion/5734632

trinidadone

PRAISETHESUN wrote: »

Unless they've changed the T&Cs recently, when switching to HSBC you can use standing orders OR DDs... so if you have any DDs on HSBC then get them moved over to Halifax before the switch and set up £1 SOs to yourself.

As for how to manufacture more, check the thread below. Plenty of good ideas if you are prepared to sift through all the posts: https://forums.moneysavingexpert.com/discussion/5734632

thank you Praisethesun, your a star

datlex

trinidadone wrote: »

Another question for you Nick, If I decide to open

TSB current Account
Tesco Current Account

at the same time, would I be credit checked? and do you think this would affect my credit dcore? I ask, because I have a number of CC in the red at the moment, so my credit rating is not great!!

Whilst the TSB one doesn't need any direct debits. The Tesco current account needs 3. It used to not need any. However, that changed a while back.

Nick_C

datlex wrote: »

Whilst the TSB one doesn't need any direct debits. The Tesco current account needs 3. It used to not need any. However, that changed a while back.

The Tesco Current AC does not need three direct debits.

It needs three direct debit payments each account month.

This can be a single direct debit paid weekly.

colsten

Nick_C wrote: »

The Tesco Current AC does not need three direct debits.

It needs three direct debit payments each account month.

This can be a single direct debit paid weekly.

Older Tesco current accounts don't need any DDs at all. Not that this is of relevance for the OP, but I thought I mention it in case holders of those older accounts might think they have missed an important change. They haven't as there was no change for them.

colsten

trinidadone wrote: »

You do know all debt is not bad debt right?

I do indeed know that, yes . However, all credit card debt is credit that is available to you. It doesn't matter whether the CC debt is on 0% or 30% - it is money you owe. The more you owe, the higher the risk you represent to a bank. The risk may be so high that they'd rather not give you a new current account. So your existing credit record may be problem when applying for additional current accounts.

You also indicated that your credit record is "not great".

trinidadone wrote: »

I ask, because I have a number of CC in the red at the moment, so my credit rating is not great!!

jackieblack

colsten wrote: »

Older Tesco current accounts don't need any DDs at all. Not that this is of relevance for the OP, but I thought I mention it in case holders of those older accounts might think they have missed an important change. They haven't as there was no change for them.

Although apparently this is under review and may change from April (?) next year