Tesco Bank to cut current account interest from 3% to 1% - MSE News

greyteam1959

Oh well it's back to the age old way of 'saving'
Stuffing it in the mattress !!!!

EachPenny

colsten wrote: »

Oh right. What is the minimum income they insist on? Can't see it on their website.

From memory when I last applied it was either £7k or £8k. Income from employment or pension only (savings and investment income is ignored).

ceredigion

Cotta wrote: »

So to get the switch and ultimately the RS with M&S I first need to get credit card and then switch my bank?

No.
If you care to look , there is a £220 incentive now and no credit card required

DragonQ

Nick_C wrote: »

If you don't shop in Tesco or buy fuel there, I agree.

I shop at Tesco but get discounted gift vouchers through work so wouldn't be able to take advantage of any related offers on their current accounts or credit cards.

greenery

ceredigion wrote: »

No.
If you care to look , there is a £220 incentive now and no credit card required

I cant see this? any link please.

I do have a credit card but I want to switch a joint account to M&S and the credit card is in my name only. I was trying to find out if i could do this.

masonic

ceredigion wrote: »

No.
If you care to look , there is a £220 incentive now and no credit card required

https://bank.marksandspencer.com/pdf/220switchingterms.pdf
"6. If M&S Bank identify that you are not the main cardholder holding an open M&S Credit Card and subsequently do not qualify for the £220 switch and stay offer, you will be reverted to the standard £180 switch and stay offer."

greenery

masonic wrote: »

https://bank.marksandspencer.com/pdf/220switchingterms.pdf
"6. If M&S Bank identify that you are not the main cardholder holding an open M&S Credit Card and subsequently do not qualify for the £220 switch and stay offer, you will be reverted to the standard £180 switch and stay offer."

So it looks like you can't get the £220 without a credit card.

colsten

You can test your likely chances for getting accepted for an M&S CC using the MSE CC eligibility checker

masonic

greenery wrote: »

So it looks like you can't get the £220 without a credit card.

What's intriguing is they state those without the card 'will be reverted to the standard £180 switch and stay offer'. I'm not sure they've quite closed the door firmly enough.

Bimbly

The only switch offer I've not grabbed is the M&S one. Was planning to apply for the credit card and then switch the Tesco account (my forth DD will be the credit card!). But I still have 3.5 months of Tesco interest to go. Hoping this offer (or a better one!) is still available in June.