Successfully upgraded your Cash Account?

colsten

dahj said:

Fighter1986 said:

stclair said:

Fighter1986 said:

Thank you for all your replies, it's very helpful and although none of this is solid evidence it does suggest that I've made the right choice with Nationwide. I'm comfortable banking with them and will just carry on as I am, enquiring about an upgrade every six to twelve months until the day comes that they trust me. 

Grand, Thank you. 

I would just apply for a new account with them and see what happens. My brother recently opened a flex plus account with 15 odd defaults.

Yeah their eligibility checker for a new account also only recommends flex basic.

It's alright, it's not been long since my BR, I'll just sit tight carrying on exactly as I am.

Really appreciate everyone's input 👍

The FlexBasic does almost everything that the FlexAccount does except the overdraft.
Good ATM limit (£500), supports contactless payments and works at Pay at Pump too.

Exactly. 👆👆👆👆

OP never responded to this Q of mine:


I hope for their sakes they aren't on a quest to get an expensive overdraft.

Fighter1986

colsten said:

dahj said:

Fighter1986 said:

stclair said:

Fighter1986 said:

Thank you for all your replies, it's very helpful and although none of this is solid evidence it does suggest that I've made the right choice with Nationwide. I'm comfortable banking with them and will just carry on as I am, enquiring about an upgrade every six to twelve months until the day comes that they trust me. 

Grand, Thank you. 

I would just apply for a new account with them and see what happens. My brother recently opened a flex plus account with 15 odd defaults.

Yeah their eligibility checker for a new account also only recommends flex basic.

It's alright, it's not been long since my BR, I'll just sit tight carrying on exactly as I am.

Really appreciate everyone's input 👍

The FlexBasic does almost everything that the FlexAccount does except the overdraft.
Good ATM limit (£500), supports contactless payments and works at Pay at Pump too.

Exactly. 👆👆👆👆

OP never responded to this Q of mine:


I hope for their sakes they aren't on a quest to get an expensive overdraft.

Oh I covered this back on Page 1, sorry if you missed it:

"I understand, I'm really not that bothered at all as cash accounts are fairly full featured these days anyway"

I've certainly got no interest in any kind of borrowing whatsoever until I apply for a mortgage in two years' time. I've got a credit card paid in full every month building credit history between now and then, and I have plenty of liquid savings; plus shares... Including Tesla... Jeez, that boy is like a runaway freight train



It's not a huge portfolio just a little something I keep on the back burner to learn the market without risking the capital we'll use for our house.

xlnc99

You need an OD if you are looking to build credit profile up and want to get a mortgage. Just dont use it. Works wonders for your credit profile. Also always good to have an OD for emergencies. 

Fighter1986

xlnc99 said:

You need an OD if you are looking to build credit profile up and want to get a mortgage. Just dont use it. Works wonders for your credit profile. Also always good to have an OD for emergencies. 

I have no interest in an overdraft to be honest. I've got a large enough financial cushion.

I would agree that an unused overdraft does have a positive effect on ones creditworthiness, however

[Deleted User]

Unused overdrafts and credit cards are very positive but lenders will be looking for a decent deposit, no late payments and regular income/affordability as a mortgage is secured lending.

Fighter1986

dahj said:

Unused overdrafts and credit cards are very positive but lenders will be looking for a decent deposit, no late payments and regular income/affordability as a mortgage is secured lending.

Quite. We will have 15% down + a healthy additional float, no debt, and will be looking to borrow about 4.25x out combined annual basic salaries. So all good on that front 👍