Any serial switchers?

crumpet_man

Dozens of accounts, thousands of pounds and Amazon gift vouchers.

And all the while I keep two or three accounts as "main" accounts so there is no interruption to my salary, incoming payments, direct debits etc.

WillPS

REDDOG said:

PriesstesHN said:

Do you find it affects your credit scores having several accounts open and jumping around?

No, have checked my credit score and it's just shy of the top mark

 I don't leave the accounts open anyway. Using the switch scheme closes the old one and then they drop off your history within a year Ive heard.

The search for the new account (if there is one) drops off after a year.

The old account stays for 6 years, but it's not much of a problem so long as it was well managed in its lifetime.

Lots of 'credit score' tools, including the MSE one, evaluate average time your accounts have been open but despite mine being single-digit months it doesn't seem to affect my real-world credit worthiness particularly. I do have some long standing accounts tho, including a 20 year old current account and a 15 year old credit card, and I wouldn't close those unless they started to cost me somehow.

where_are_we

The problem with being an "old hand" at serial switching, T&C`s prevent previous switchers who have benefited from the pay outs participating in the new offerings. I wished I`d kept a list of my switch dates. Eventually I will be able to join in again.

artyboy

Yes, did it loads and loads in the good old days - between the switching bonuses, linked savers and direct interest on some balances, it was thousands 'earned' for the sake of a few hours of set up followed by 5 minutes of bouncing money around each month. 

Of course, in the days of being able to use the likes of Tesco to manufacture DDs it was a bit easier, and not all banks were a hassle free process (yes, I'm looking at you HSBC), but there's still decent money to be made

[Deleted User]

Done Satander to Natwest for £150
Did a burner Virgin to First Direct for £150 and the saver
Just done a burner Monzo to Nationwide for the £125 and waiting on a card from Starling as Santander need the card number to do the switch for some inane reason and I destroyed the card as I wasn't going to keep the account

Bit late to the game though, but First Direct after the regular saver ends and the other 2 will switch again at some point depending what is available next year

Bridlington1

I'm relatively new to the switching game but this year I've had:
£125 from TSB to Halifax in April
£125 from Virgin to Nationwide in April
£150 from Santander to RBS in April
£125 from Natwest to Lloyds in May
£50 from Lloyds to Co-op in June

£160 from Lloyds to Santander arriving within the next 3 months
£160 cashback from Bank of Scotland to Virgin money once the switch is complete and I've done some shopping.

So by November I should have had £895 in switching incentives plus a bit extra out of the reward accounts, taking me to just over £1k so not too bad for 7 months work.

FreeFallerSaver

Similar journey to @Bridlington1. I only started last September and it only came about following my setting up of a Monzo account to see what it was like, but since then:

Monzo to Lloyds, £100
Lloyds to First Direct, £130
First Direct to NatWest, £150
Starling to Nationwide, £125
Burner Natwest to Halifax, £150
Burner RBS to Santander, waiting on £160

So £655 so far and waiting on £160, and every penny has gone to paying down my debts which will be just a memory next year after a lot of hard work and focus. I'll always keep my primary long-standing NatWest and Nationwide accounts.

JMZ555

I have only recently started switching. But it has been very easy with no issues yet.

Natwest--->HSBC---->Santander
Plus made a nice £300 from Chase Referrals in between. 

I quite like the Cash back on bills that Santander do. I will maybe switch again if a good offer comes up.

Bridlington1

JMZ555 said:

I have only recently started switching. But it has been very easy with no issues yet.

Natwest--->HSBC---->Santander
Plus made a nice £300 from Chase Referrals in between. 

I quite like the Cash back on bills that Santander do. I will maybe switch again if a good offer comes up.

You could open a Santander everyday account and switch that. Then you can keep the cashback on the bills and simultaneously hoover up any more switching incentives.

oldagetraveller1

Without adding up how much, a few switches in the past year or so. R.B.S.,Lloyds (existing customer offer), Halifax, to name three of them. The latest, NatWest to Santander. Boohoo, should have waited for the £175 offer. However, crystal ball not to hand.

I think that will be sufficient for the time being though.