Questions Thread

[Rincewind]

[Parafox]

 

well, there's no need for THAT kind of language!!!

 

You should replace at least one of those letters with an asterisk.

[Ollie93]

http://www.hsbc.co.uk/1/2/savings-accounts

 

Wanting to open a savings account but I'm a bit clueless when it comes to interest rates, if anyone could shed any light on this I would appreciate it!

[Rincewind]

well, there's no need for THAT kind of language!!!

 

You should replace at least one of those letters with an asterisk.

COYB

[Freesolo]

Correct me if I am wrong but Interest rates are so bad right now that it is hardly worth setting up a savings account unless you have a huge amount of money to save then they will give you a good rate.

Maybe others could tell you better ways to save/invest your money and get a better return

If you are only interested in opening a savings account it's real easy, just look at what bank is giving you the best deal, open a savings account with them then set up a standing order from your current account to the savings account so that when your wages come into your current account X amount that you want to save each week/month goes into your savings.

[Captain...]

Correct me if I am wrong but Interest rates are so bad right now that it is hardly worth setting up a savings account unless you have a huge amount of money to save then they will give you a good rate.

Maybe others could tell you better ways to save/invest your money and get a better return

If you are only interested in opening a savings account it's real easy, just look at what bank is giving you the best deal, open a savings account with them then set up a standing order from your current account to the savings account so that when your wages come into your current account X amount that you want to save each week/month goes into your savings.

 

But keep your eye on the rates they aren't guaranteed and change often, I've given up on ISAs every time I open a new one the rate changes after a while and I don't notice so end up with a lower rate than if I had just left it where it was.

[DennisNedry]

http://www.hsbc.co.uk/1/2/savings-accounts

 

Wanting to open a savings account but I'm a bit clueless when it comes to interest rates, if anyone could shed any light on this I would appreciate it!

 

Yeah mate with interest rates so pathetically low, saving is pretty pointless.

 

I've got almost every penny I have in a loyalty saver account, with a grand or so in a current account for easy access. Gets me about £130 interest a year 

[Ollie93]

Yeah mate with interest rates so pathetically low, saving is pretty pointless.

 

I've got almost every penny I have in a loyalty saver account, with a grand or so in a current account for easy access. Gets me about £130 interest a year 

 

May sound really stupid, do you get charged for having your money in a saving account?

[Rincewind]

There are  some where there is a fee in return for 'awards'

[AndWhat?]

A question!

 

If I get a credit card with 0% interest for 21 months does that mean that If i buy something for 3 grand I have 21 months to pay it off?

 

and if I do pay it off in those 21 months I don't pay any extra?

 

Will I have to pay a minimum amount every month or could I pay nothing on it for 3 months then start paying it off?

 

I'm 27 and I've never had a credit card, but it's the only way I'm going to be able to afford our wedding!

[Freesolo]

A question!

 

If I get a credit card with 0% interest for 21 months does that mean that If i buy something for 3 grand I have 21 months to pay it off?

 

and if I do pay it off in those 21 months I don't pay any extra?

 

Will I have to pay a minimum amount every month or could I pay nothing on it for 3 months then start paying it off?

 

I'm 27 and I've never had a credit card, but it's the only way I'm going to be able to afford our wedding!

I have never heard of a zero % interest credit card for 21 months, I would be careful to check the small print so that they don't have you locked into something like charged for making purchases etc.

 

But if it's all good then you basically have a 21 month zero interest loan

Edited 12 June 2015 by Freesolo

[AndWhat?]

I have never heard of a zero % interest credit card for 21 months, I would be careful to check the small print so that they don't have you locked into something like charged for making purchases etc.

 

But if it's all good then you basically have a 21 month zero interest loan

 

It's with Tesco and it doesn't say anything about charges on purchases. 

 

the 21 months is obviously just an introductory rate, but why the **** anyone would stay with them after that instead of just going with someone else I have no idea.

 

The idea is that we just pay the wedding in full then cut the card up and pay it back over the next 2 years. Just seems to good and easy to be true

[Freesolo]

It's with Tesco and it doesn't say anything about charges on purchases. 

 

the 21 months is obviously just an introductory rate, but why the **** anyone would stay with them after that instead of just going with someone else I have no idea.

 

The idea is that we just pay the wedding in full then cut the card up and pay it back over the next 2 years. Just seems to good and easy to be true

Yea a loan at the bank is a joke these days the interest rates from the Bank Of England are what 1.5% yet the bank is charging over 10% on loans under 10k

If everything is good with the Tesco card I would go for it but it just sounds to good to be true, maybe they are thinking long term hoping people get into a shitload of debt and then they can start hitting them hard after the 21 months is up

[Vacamion]

Answer me this.

Why is South Wigston called SOUTH Wigston?

It's nowhere near the South of the area covered by the Wigstons.

Should it not be "West Wigston"?

(Not sure why this occurred to me this morning at 5am in bed in Glasgow)

[Webbo]

A question!

 

If I get a credit card with 0% interest for 21 months does that mean that If i buy something for 3 grand I have 21 months to pay it off?

 

and if I do pay it off in those 21 months I don't pay any extra?

 

Will I have to pay a minimum amount every month or could I pay nothing on it for 3 months then start paying it off?

 

I'm 27 and I've never had a credit card, but it's the only way I'm going to be able to afford our wedding!

Usually it's 0% for balance transfers. i.e. debt transferred from another car.

[AndWhat?]

Usually it's 0% for balance transfers. i.e. debt transferred from another car.

 

It says on the summary sheet that I printed from their website

 

0% for 21 months on purchases from the account opening and 0% for 3 months on balance transfers from account opening

[Webbo]

It says on the summary sheet that I printed from their website

 

0% for 21 months on purchases from the account opening and 0% for 3 months on balance transfers from account opening

Sounds a good deal.

[AndWhat?]

Yeah just worried it sounds too good a deal

[purpleronnie]

It says on the summary sheet that I printed from their website

 

0% for 21 months on purchases from the account opening and 0% for 3 months on balance transfers from account opening

Yep, you have almost 2 years before you pay interest on it, if you haven't paid it off by then you could always transfer the remaining balance to another card and have another 2+ years but you will usually have a small fee to pay.

[AndWhat?]

Yep, you have almost 2 years before you pay interest on it, if you haven't paid it off by then you could always transfer the remaining balance to another card and have another 2+ years but you will usually have a small fee to pay.

 

Well that's every holiday I go on again sorted! There were shit loads of credit cards offering the same thing. 

[Sir Fynwy]

Usually it's 0% for balance transfers. i.e. debt transferred from another car.

Most cards will charge a percentage to transfer in the balance transfer which adds to the debt initially but can still save plenty in the long run.

Edit: I notice Ronnie beat me to it.

Edited 12 June 2015 by Sir Fynwy

[Bagworthblue]

http://www.hsbc.co.uk/1/2/savings-accounts

 

Wanting to open a savings account but I'm a bit clueless when it comes to interest rates, if anyone could shed any light on this I would appreciate it!

they're all pretty shit at the moment but try a comparison site like money supermarket for the best deals but depends how much and for how long and whether you want quick access to your money or not. For anything under circa £11k go for a cash ISA as the savings are tax free. 

[Frank to be]

Current accounts are offering some decent rates at the moment on lowish sums subject to you using them as your main account (or setting up some elaborate money channelling system). Next up probably peer to peer lending which offers a decent risk reward ratio for medium term saving. Cash ISAs and savings accounts both equally poor. Stocks and shares ISA if you're thinking long term.

[Strokes]

It's with Tesco and it doesn't say anything about charges on purchases. 

 

the 21 months is obviously just an introductory rate, but why the **** anyone would stay with them after that instead of just going with someone else I have no idea.

 

The idea is that we just pay the wedding in full then cut the card up and pay it back over the next 2 years. Just seems to good and easy to be true

You have to make minimum payments each month, right from the off. If you haven't paid it off after the 21 months you could get another card and transfer the balance to get more interest free time.

[SystonFox]

The tesco card is currently a very good deal. Go for it