Marcus rate reducing, again

Fingerbobs

Won't bother me. I haven't had any significant money in Marcus for over a year. Getting better rates elsewhere.

colsten

Fingerbobs said:

Won't bother me. I haven't had any significant money in Marcus for over a year. Getting better rates elsewhere.

Yep, me too. From the beginning (Sept 2018), I have never had more than £1 in Marcus as they never had the top interest rate for me. 

webjaved

I've got quite a bit of money in my account, I am thinking of emptying the lot and sticking it into my S&S ISA.

george4064

webjaved said:

I've got quite a bit of money in my account, I am thinking of emptying the lot and sticking it into my S&S ISA.

As long as you still have sufficient emergency savings then go for it! My Marcus savings IS my emergency savings pot so investing that cash is not an option. 

Alistair31

george4064 said:

webjaved said:

I've got quite a bit of money in my account, I am thinking of emptying the lot and sticking it into my S&S ISA.

As long as you still have sufficient emergency savings then go for it! My Marcus savings IS my emergency savings pot so investing that cash is not an option. 

Same for me plus I keep my credit card stoozing cash there too, but that is increasingly pointless these days.

schiff

Interestingly the Marcus new rate is beneath Lloyd's 0.6% on the first £4000 tranche. Just as easy to have the loose lying about waiting cash in there.

Sea_Shell

schiff said:

Interestingly the Marcus new rate is beneath Lloyd's 0.6% on the first £4000 tranche. Just as easy to have the loose lying about waiting cash in there.

Thanks for that reminder.   I'd mentally discounted my CL account (still had TSB)

grumiofoundation

webjaved said:

I've got quite a bit of money in my account, I am thinking of emptying the lot and sticking it into my S&S ISA.

Presumably you were also thinking that before recent rate drop - going from cash to investments based solely on a rate drop from 0.7 to 0.5% seems quite extreme....

BakingC

Might just stick my marcus balance into premium bonds as they have been quite kind to me this year (1.8% avg) although sounds like a good way to trash my rate as with my normal luck the new lot wouldn't get anything

chelseablue

Would it be wise to move from Marcus now? And if so to where? 
Sounds like under the mattress is as good as anything these days...