Switching Bank Accounts

Hi all,
After a bit of advice as I am fairly clueless regarding this sort of thing.
I have been with my current bank Natwest since I was 18, I hold a current account, a couple of small savings accounts and a credit card with them.

Purchased by first house in July with Nationwide and have seen via correspondence they now are offering £200 to switch to their current accounts. 
Logically this seems like a good plan however my CC (small balance on it that will be paid at payday) is the one bit that concerns me. I currently have a pretty large CC limit but worry that if I move to Nationwide they won't offer me anything near it. I know that it has to be paid back etc if I did use it but I like the "safety net" it provides.

What is the likelihood of being offered a decent credit limit (if anyone has experience)? In an ideal world I would just have the savings but unfortunately although I am trying to save its a slow process. Would I be better (or even meet the criteria) just getting a loan in a worst case and suck it up and move it over for the £200 bonus?

Appreciate anyones take on this. Thanks :)

Comments

  • x_raphael_xx
    x_raphael_xx Posts: 4,308
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    There is no reason you can't keep your CC with Natwest.
    Nationwide will just switch the Current account. The CC and savings accounts are seperate.
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  • grumbler
    grumbler Posts: 58,629
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    If it's your only account with Natwest and you are happy with it, don't switch it for some pathetic bonus. Open a second account, possibly with the same Natwest, add two DDs to it and then switch it.  And it's generally advised to have at least two current accounts with different banks anyway.
  • kten
    kten Posts: 12
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    a matter of fact, you can only switch current accts, not saving accts nor credit card accts. The "bank account switching service" would not/cannot touch anything other than (one) current acct, ie, if you have more than one current accts with the same bank, it won't switch the other(s). 
  • WillPS
    WillPS Posts: 3,041
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    grumbler said:
    If it's your only account with Natwest and you are happy with it, don't switch it for some pathetic bonus. Open a second account, possibly with the same Natwest, add two DDs to it and then switch it.  And it's generally advised to have at least two current accounts with different banks anyway.
    +1. Don't close your longest held bank account.

    Having backups is also a good thing, no need to limit yourself to 1.
  • Nebulous2
    Nebulous2 Posts: 5,063
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    It's a long time now since I opened my Nationwide account, but at the time they also offered me a credit card and said what the limit would be. 

    That meant I only had one hard search. 

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