It’s become quite common nowadays to switch credit cards in order to get 0% purchase deals or balance transfers, but less so to change the current accounts we bank with.
In many cases, people are still with the banks they joined as students or even children.
If you haven’t switched for a few years there’s a chance you don’t have the best account for your needs.
Why change banks?
You might get a better deal with interest and charges, whether your account is usually in credit or overdrawn
Another bank may offer a bigger overdraft facility
There may be a local branch that offers a more personal service
The new account may offer some specific benefits that suit you, such as car breakdown cover, or a fee-free credit card for overseas spending
Customer service ratings can be a major factor
Special offers that offer an immediate financial benefit, such as vouchers or ‘cashback’
Current Account Switch Service The Current Account Switch Service was set up in 2013 to allow people to move their bank or building society account to another one, for free, in a more simple way, taking just seven working days and helping organise redirections, payments in and out and so on. Continue reading →
So, we haven’t got hoverboards, self-lacing trainers and so on – the 2015 envisaged in Back To The Future 2 did get a few things right though, such as Marty getting fired by what looks like an early version of Skype that would have seemed fanciful in 1985.
We took a look at some of the changes that have affected our spending habits since 1985, that we couldn’t have imagined back then. Continue reading →
In the late 1970s, in Experian’s home town of Nottingham, a miracle of sorts took place.
The city’s main football team, Nottingham Forest, had been treading water since its brief glory days in the 1950s and lay in 13th place in the old Second Division when, in January 1975, a big-mouth young manager, the Jose Mourinho of his day, took charge – his name was Brian Clough.
Could your credit history prevent you from getting a mortgage? Experian research has found that more than a quarter of people in the UK looking to buy their first home before 2016 – around 1.81 million people – have missed credit repayments, defaulted accounts and CCJs currently listed on their credit report*. And all of these could prevent them from securing a mortgage.
Managing credit accounts such as credit cards, mobile phone contracts and even some utility services can be important in order to build and maintain a good credit rating.