When to stop switching??

steven141

The only one that (at the moment) doesn’t seem to mind you switching out additional accounts is Chase. If you close your last account with them though, they won’t allow you back for a while if at all. The same with Monzo and Starling apparently. 

MuckChucker

My only concern is that I've done so many so quickly that I've run out of options and will have to wait a while before I can make use of one again. 

PRAISETHESUN

MuckChucker said:

My only concern is that I've done so many so quickly that I've run out of options and will have to wait a while before I can make use of one again. 

That's the same boat as a lot of us serial switchers are in. IMO it's better to have the cash now, and also it gets the clock started sooner for being eligible for the next incentive.

jameseonline

[Deleted User] said:

WillPS said:

It would perhaps help if you could explain what negative side effects you are anticipating.

As a general rule, people advise stopping new credit searches either 6 months or a year to be safe ahead of a mortgage application. Are you in this position?

Being new to all this switching stuff lm just worried that it could affect my other main bank account.  It probably  me being overly concerned that something  will go wrong.  Real or not.

I've got no plans for a mortgage or even loans. Infact  I've  never borrowed  any money.

BTW  I don't know if you seen my last post earlier but l received  the nationwide  cash this morning.

Thank you for replying 

Nothing should affect your main account unless it's the main account you are switching in which case setup another account purely for switching 

Jaguar98

If you’re not planning on any big credit applications soon, go for that First Direct switch just be mindful not to upset any one bank too often.

[Deleted User]

PRAISETHESUN said:

I'd do the rounds and take advantage of all the incentives you can while they are available. For some banks, there's no guarantee they will offer another offer anytime soon!

As for opening multiple accounts, there's no issue really IMO unless you have an important credit application on the horizon. Otherwise, opening an account only to close it shortly after is probably okay as a one off, but I wouldn't do it regularly with the same bank - share the love around if you need to. There's a few stories on the forums of people doing this and then getting lifetime bans from the bank(s) in question.

So far lve definitely  shared  the love around and haven't taken the Mick:)

[Deleted User]

steven141 said:

The only one that (at the moment) doesn’t seem to mind you switching out additional accounts is Chase. If you close your last account with them though, they won’t allow you back for a while if at all. The same with Monzo and Starling apparently. 

Good to know.
Thank you.

[Deleted User]

MuckChucker said:

My only concern is that I've done so many so quickly that I've run out of options and will have to wait a while before I can make use of one again. 

Good luck.

[Deleted User]

jameseonline said:

[Deleted User] said:

WillPS said:

It would perhaps help if you could explain what negative side effects you are anticipating.

As a general rule, people advise stopping new credit searches either 6 months or a year to be safe ahead of a mortgage application. Are you in this position?

Being new to all this switching stuff lm just worried that it could affect my other main bank account.  It probably  me being overly concerned that something  will go wrong.  Real or not.

I've got no plans for a mortgage or even loans. Infact  I've  never borrowed  any money.

BTW  I don't know if you seen my last post earlier but l received  the nationwide  cash this morning.

Thank you for replying 

Nothing should affect your main account unless it's the main account you are switching in which case setup another account purely for switching 

Thank you.

[Deleted User]

Jaguar98 said:

If you’re not planning on any big credit applications soon, go for that First Direct switch just be mindful not to upset any one bank too often.

Advice  taken.
Thank you.