Best "burner" account?

MikeJXE

4 bank switch incentives up for grabs now so 1 burner won't secure them all and they won't be there forever 

flaneurs_lobster

MikeJXE said:

GoodCredit said:

MikeJXE said:

GoodCredit said:

Thank you all for your replies and links. 
Ill have a read through.
Personally, I was only planning on opening up one burner account and switching it a couple/few times (or however many incentives are around at the time) just as an extra bit of money to shove into my savings

One burner account won't do the job, when you switch it it's gone to the switch bank and closed so you need another for the next switch. 

If you are going to do switching you need as many burner accounts as there are switch incentives

I started last December and have now 10 accounts in total 

I was planning on just switching the same one, say Chase to Lloyd's, then Lloyd's to whatever has an incentive. And so on.
I thought that after you've switched one account you wouldn't get more incentives for the same name? 
How many burners did you open and switch and across what time frame?

I started switching 2nd December 2022 and over the next couple of weeks there were 4 separate incentives going so I opened 4 burner accounts

There were then more incentives available and some were slow so I needed more burners

When NatWest RBS and Ulster came up I had to open another burner to cope, I applied for all 3 between 12th and 16th January 

Between 2nd December and 25th May I collected £1775.00 

I have now applied for 2 direct debits for my spare Metro account and Nationwide £200 is my target 

The TSB £75 from February switch should be paid next month 

Further to this I am registered with Yougov Fiancé so I can add £50 May 26th £50 August 2nd and another £50 should be available tomorrow 

For what time all this takes it must be a very high hourly rate 

I wouldn't be doing this as much if I needed a mortgage or credit finance

I suspect I will not be eligible for further switching for  a couple of years maybe 

@MikeJXE and I must have read the same article, my switching experience is almost the same - 11 successful switches since last November for bonus of £1700. Two refusals (Lloyds 2nd swap, fair enough and a second Co-Op that some are still arguing about).

One tip, if you are going to start switching then record the details in a spreadsheet. Doesn't need to be complicated, basic account details from/to, dates. Useful to keep track during switching and invaluable in a couple of years time when a new switch offer needs you to confirm when you last got a bonus from that bank.

MikeJXE

flaneurs_lobster said:

MikeJXE said:

GoodCredit said:

MikeJXE said:

GoodCredit said:

Thank you all for your replies and links. 
Ill have a read through.
Personally, I was only planning on opening up one burner account and switching it a couple/few times (or however many incentives are around at the time) just as an extra bit of money to shove into my savings

One burner account won't do the job, when you switch it it's gone to the switch bank and closed so you need another for the next switch. 

If you are going to do switching you need as many burner accounts as there are switch incentives

I started last December and have now 10 accounts in total 

I was planning on just switching the same one, say Chase to Lloyd's, then Lloyd's to whatever has an incentive. And so on.
I thought that after you've switched one account you wouldn't get more incentives for the same name? 
How many burners did you open and switch and across what time frame?

I started switching 2nd December 2022 and over the next couple of weeks there were 4 separate incentives going so I opened 4 burner accounts

There were then more incentives available and some were slow so I needed more burners

When NatWest RBS and Ulster came up I had to open another burner to cope, I applied for all 3 between 12th and 16th January 

Between 2nd December and 25th May I collected £1775.00 

I have now applied for 2 direct debits for my spare Metro account and Nationwide £200 is my target 

The TSB £75 from February switch should be paid next month 

Further to this I am registered with Yougov Fiancé so I can add £50 May 26th £50 August 2nd and another £50 should be available tomorrow 

For what time all this takes it must be a very high hourly rate 

I wouldn't be doing this as much if I needed a mortgage or credit finance

I suspect I will not be eligible for further switching for  a couple of years maybe 

@MikeJXE and I must have read the same article, my switching experience is almost the same - 11 successful switches since last November for bonus of £1700. Two refusals (Lloyds 2nd swap, fair enough and a second Co-Op that some are still arguing about).

One tip, if you are going to start switching then record the details in a spreadsheet. Doesn't need to be complicated, basic account details from/to, dates. Useful to keep track during switching and invaluable in a couple of years time when a new switch offer needs you to confirm when you last got a bonus from that bank.

Thats exactly what I have done