Switch Your Current Account
JULY 15TH, 2005
| Credit Cards (introductory rate & period) |
Typical APR | Options |
| Virgin Credit Card 0% balance transfers, 13 months ( 2.9% balance transfer fee ) 0% purchases, 3 months |
15.9% (variable) |
 |
| Post Office Credit Card 0% balance transfers, 8 months ( 2.5% balance transfer fee ) 0% purchases, 3 months |
14.9% (variable) |
|
| Personal Loans | Typical APR | Options |
| Moneyback Bank Personal Loan | 5.7% | |
| Northern Rock Personal Loan | 5.8% | |
If you are considering an opportunity to switch your current account then now is a serious time to consider it as a serious high street war is taking off!
Banks and building societies seem to be tearing strips out of each other in order to sway you away from your current provider. But whats in it for you I hear you ask? Money...
Names such as Smile, Lloyds TSB, First direct are offering up to £50 to sign up! Alliance and Leicester give £50 to an account holder who recommends a friend plus the new account member receives £50 for being recommended and £25 as their new customer, a whopping £75 free money! All for just switching! Great considering most of us and not happy with our banks especially when we believe they are creaming so much off us into their buldging pockets.
They offer us poor interest rates and the service is generally rather poor yet we all seem to stay loyal? With so much currently being offered why are we hanging about still? We should be jumping on the new bandwaggon.
Perhaps its time we should all be having a look around considering you receive extra perks after initally joining such as free travel insurance, breakdown cover, interest free overdrafts and high interest rates.
Interest free overdrafts are great as well to earn a bit extra if you are restrained. Move that excess cash out of your current account to a savings account and earn the interest on money which is not even yours! By keeping you current account low in balance it helps you curb the urge to spend because the money is not in your account. Great idea!
There is plenty on the market and Barclays have currently introduced a new account which gives apparently £1000 in perks! But it comes with a monthly banking free?
The best thing to do as ever is shop about and look at many options then decide what is best for you. Consider if you dip into your overdraft often or whether you would prefer the higher interest or even free travel insurance. Theres lots to consider. Even worth considering is the customer services aspect of which Smile and First Direct often come up trumps for.
At the end of the day if you weigh up the pros and cons of each for your personal scenario and you cannot go too far wrong!
Switch your current account today!
