Notice Accounts

Cashmygiro

Just had the email saying the rate is dropping to 4.95% too. Looks like I'll be withdrawing all before that date then.

allegro120

In anticipation of RCI rates to be reduced sooner or later I've opened HTB issue 14 and Oxbury issue 10.  I intend to split my RCI funds between these two.  I hope they or at least one of them will stay at 5.51% a bit longer.

IloveElephants

Hi, can someone tell me if you keep opening notice accounts does this affect your credit score? I see people keep moving and switching to different types of notice accounts following the best rates. Thank you

Rheumatoid

IloveElephants said:

Hi, can someone tell me if you keep opening notice accounts does this affect your credit score? I see people keep moving and switching to different types of notice accounts following the best rates. Thank you

No. Savings accounts shouldn't result in any effect.

IloveElephants

Rheumatoid said:

IloveElephants said:

Hi, can someone tell me if you keep opening notice accounts does this affect your credit score? I see people keep moving and switching to different types of notice accounts following the best rates. Thank you

No. Savings accounts shouldn't result in any effect.

 Hi, Thanks for the reply, I was always cautious as people were saying if you open an account before a mortgage application or just in general many times it will effect your credit and show on the record. Now does this apply to ISA only and not savings accounts? Thanks

refluxer

IloveElephants said:

Rheumatoid said:

IloveElephants said:

Hi, can someone tell me if you keep opening notice accounts does this affect your credit score? I see people keep moving and switching to different types of notice accounts following the best rates. Thank you

No. Savings accounts shouldn't result in any effect.

 Hi, Thanks for the reply, I was always cautious as people were saying if you open an account before a mortgage application or just in general many times it will effect your credit and show on the record. Now does this apply to ISA only and not savings accounts? Thanks

As mentioned above, opening savings accounts doesn't affect your credit rating.

It's accounts that give you credit/overdrafts (eg. current accounts and credit cards) that will affect your credit rating.

Wheres_My_Cashback

IloveElephants said:

Hi, can someone tell me if you keep opening notice accounts does this affect your credit score? I see people keep moving and switching to different types of notice accounts following the best rates. Thank you

As above, the clue is in the name 

jaypers

Thinking of jumping back into a Notice a/c and like the 90 Day Investec paying 5.25%. What I really like is the fact that they will give 104 days notice on any rate reduction……Charter only give 14. This avoids having money trapped at a lower rate. Just a consideration that may interest some in light of reducing savings rates. 

refluxer

Must admit that I'd presumed that all notice accounts would give at least the same amount of notice for a rate reduction as your have to give for a withdrawal.

@jaypers If Charter don't do this, do they give you the option to withdraw your money without having to give notice, instead ?

refluxer

Just a heads up that Oxbury's 120 notice account @ 5.53% is still available to existing customers.

If you wanted to open that account but aren't a customer, you could open their easy access account @ 4.94% first but just note the minimum balance for that one is £1,000.