Premium Bank Account or CC - Worth it or recommendations?
Discussion
Hi,
Tried to search but didn't see any recent posts for this.
Recently moved back to the UK after 7yrs away and have lost track of what constitutes a good bank account / credit card. I have a salary which should qualify for a premium account (at least for HSBC Premier as I looked). Minimal savings as most will be going to the new house and car.
I would like (in no particular order);
- High street access (cashpoints, paying in cheques etc)
- Cash back on credit cards / direct debits
- Lounge access (pre COVID I used to fly for work but with so many different airlines it was difficult to get status to the needed level) . Of course this has stopped right now but expect to be back at it from Q1 next year. Willing to pay a premium for this if needed.
- Not AMEX unless this is more readily accepted these days than I recall
- Don't need overdraft or balance transfer perks as tend to avoid borrowings and have no loans etc today
- Other benefits; mobile insurance, breakdown cover, travel insurance etc if possible.
Would I be better getting a standard account and premium credit card, both or neither?
So far Natwest Premier Reward Black, Santander Select with added mastercard look interesting - any experience of these or others?
Advice from PH needed please as the options are making my head spin!
Tried to search but didn't see any recent posts for this.
Recently moved back to the UK after 7yrs away and have lost track of what constitutes a good bank account / credit card. I have a salary which should qualify for a premium account (at least for HSBC Premier as I looked). Minimal savings as most will be going to the new house and car.
I would like (in no particular order);
- High street access (cashpoints, paying in cheques etc)
- Cash back on credit cards / direct debits
- Lounge access (pre COVID I used to fly for work but with so many different airlines it was difficult to get status to the needed level) . Of course this has stopped right now but expect to be back at it from Q1 next year. Willing to pay a premium for this if needed.
- Not AMEX unless this is more readily accepted these days than I recall
- Don't need overdraft or balance transfer perks as tend to avoid borrowings and have no loans etc today
- Other benefits; mobile insurance, breakdown cover, travel insurance etc if possible.
Would I be better getting a standard account and premium credit card, both or neither?
So far Natwest Premier Reward Black, Santander Select with added mastercard look interesting - any experience of these or others?
Advice from PH needed please as the options are making my head spin!
MarkGArgyle said:
Hi,
Tried to search but didn't see any recent posts for this.
Recently moved back to the UK after 7yrs away and have lost track of what constitutes a good bank account / credit card. I have a salary which should qualify for a premium account (at least for HSBC Premier as I looked). Minimal savings as most will be going to the new house and car.
I would like (in no particular order);
- High street access (cashpoints, paying in cheques etc)
- Cash back on credit cards / direct debits
- Lounge access (pre COVID I used to fly for work but with so many different airlines it was difficult to get status to the needed level) . Of course this has stopped right now but expect to be back at it from Q1 next year. Willing to pay a premium for this if needed.
- Not AMEX unless this is more readily accepted these days than I recall
- Don't need overdraft or balance transfer perks as tend to avoid borrowings and have no loans etc today
- Other benefits; mobile insurance, breakdown cover, travel insurance etc if possible.
Would I be better getting a standard account and premium credit card, both or neither?
So far Natwest Premier Reward Black, Santander Select with added mastercard look interesting - any experience of these or others?
Advice from PH needed please as the options are making my head spin!
I have the NatWest account you refer to. Cashback more than covers the fees.Tried to search but didn't see any recent posts for this.
Recently moved back to the UK after 7yrs away and have lost track of what constitutes a good bank account / credit card. I have a salary which should qualify for a premium account (at least for HSBC Premier as I looked). Minimal savings as most will be going to the new house and car.
I would like (in no particular order);
- High street access (cashpoints, paying in cheques etc)
- Cash back on credit cards / direct debits
- Lounge access (pre COVID I used to fly for work but with so many different airlines it was difficult to get status to the needed level) . Of course this has stopped right now but expect to be back at it from Q1 next year. Willing to pay a premium for this if needed.
- Not AMEX unless this is more readily accepted these days than I recall
- Don't need overdraft or balance transfer perks as tend to avoid borrowings and have no loans etc today
- Other benefits; mobile insurance, breakdown cover, travel insurance etc if possible.
Would I be better getting a standard account and premium credit card, both or neither?
So far Natwest Premier Reward Black, Santander Select with added mastercard look interesting - any experience of these or others?
Advice from PH needed please as the options are making my head spin!
I get an airport lounge card which I do use, covers me for 2 people, as linked to a joint account. I have also claimed on the travel insurance in the past & it works well. Mobile cover & breakdown cover are included. I think there is also home emergency cover.
I have a Santander Select account and I would say it’s not worth it, not at all. If you want travel-stuff (Lounge access, travel/gadget insurance, cheap FX) then I use Revolut or Curve, both which have lots of extended benefits (insurance, trading, cashback, premium cards, MC Elite etc) for a few quid a month and much better Apps. Hardly use my AMEX at all these days.
Edited by MrOrange on Saturday 21st November 12:36
AJB88 said:
I've got Barclays Premier (got invited even though wages are less than the minimum) it gets you bugger all in fairness. I however do have the tech pack and travel pack at about £13 a month which gets quite a few things including so many lounge passes.
I have the Premier account with Barclays it is fee free but I have the travel pack which gives me annual worldwide travel insurance and full RAC membership,airport lounge access and discount on airport parking and hotels.The cost is £10.50 a month but works out cheaper than buying annual insurance and RAC cover seperatelyI have Nat west black account, it covers travel insurance etc. It pays rewards for direct debits which I didn’t realise until had an email saying the balance was £280 ! Spent.
I also have Amex which has better travel and rewards are better. As for acceptance, really do not have many problems. With Amex you get airport lounges annual pass, at no cost, well iam sure iam paying somehow !
I also have Amex which has better travel and rewards are better. As for acceptance, really do not have many problems. With Amex you get airport lounges annual pass, at no cost, well iam sure iam paying somehow !
I think it is best to view such offers as a way of banks offering higher profit services to wealthy individuals.
It save them a lot of time when trying to improve margins from customers.. The colour of your credit card may stroke your ego, but someone else is profiting from your inner glow.
It save them a lot of time when trying to improve margins from customers.. The colour of your credit card may stroke your ego, but someone else is profiting from your inner glow.
Bungleaio said:
My HSBC is only open 10-3 Monday to Friday and not at all on a Saturday. It makes it awkward for paying in cheques. The app has a facility for paying in cheques but it never works for me.
Works perfectly every time so long as your cheque is under £500. Try taking the photos on a dark background, they work a lot better that wayI have the Natwest Reward Black as well, as others have said has decent benefits and if you use the account enough it easily covers the monthly fee, which is £31.
Natwest kept pushing me to take the Reward Credit Card too, decent cash back on that as well and again if you use it enough more than pays for itself. I have the British Airways Amex as well, i always think having this sort of specific reward credit card is worthwhile, and Amex is definitely more widely accepted than it was 2-3 years ago.
Natwest kept pushing me to take the Reward Credit Card too, decent cash back on that as well and again if you use it enough more than pays for itself. I have the British Airways Amex as well, i always think having this sort of specific reward credit card is worthwhile, and Amex is definitely more widely accepted than it was 2-3 years ago.
rdjohn said:
I think it is best to view such offers as a way of banks offering higher profit services to wealthy individuals.
It save them a lot of time when trying to improve margins from customers.. The colour of your credit card may stroke your ego, but someone else is profiting from your inner glow.
This, Nationwide Flex Account is free and includes free travel insurance, Starling for free use abroad, MBNA Cash Back credit account for daily use, I prefer banks to offer free or pay me for using their facilties.It save them a lot of time when trying to improve margins from customers.. The colour of your credit card may stroke your ego, but someone else is profiting from your inner glow.
ETA can't remember when I last needed to visit a branch, and very rarely need cash these days either
Edited by ninepoint2 on Saturday 21st November 21:39
I use a mix of HSBC Jade, which comes with the world traveller elite card FOC, and AMEX. Both the card come with concierge and lounge access, but the points with AMEX are much better. They both cover different airlines on the points too.
Jade Concierge (provided by Ten) is better for event tickets (usually mange to get sold out gigs on day of issue for face value plus a £25 booking charge, beats scalpers)
Amex points £1 = 1point transferable point for point to each airline
Amex partner airlines are https://www.americanexpress.com/us/rewards/members...
HSBC points £1 = 1 point, but when they transfer to airlines it 2-1, so the points are worth 50% less
Amex partner offers in the app are great too - they even sent a £100 harrods voucher for xmas, and during lockdown gave £100 Cashback against £100 or more spend with Waitrose, M&S and Aldi (plus some others) - twice.
Mega amex offer on currently - spend £500 or more with etihad and get £250 back
The lack of outlets for amex is a fallacy, more and more place take it than ever before, especially now with smaller retailers. This is because they run the Amex shop small campaign twice a year - £10 cash back against £20 or more spend in small independents
If you asked me to ditch one of the cards, it would be the HSBC, as I mainly travel on emirates and Virgin.
If you travel on BA a lot, I'd do the AMEX platinum BA Card, as its 2 points to the £1, but BA only
If you know someone with an AMEX (hint), they can send you a referral code (second hint), where you get 30-40k sign up points (they get some too).
For example - and upgrade from economy to business on emirates from the uk to Dubai is 36k points, but would cost about £1200 if you paid for it, on virgin Manchester to New York was 32k points to go to upper class from economy.
just my 2p
Jade Concierge (provided by Ten) is better for event tickets (usually mange to get sold out gigs on day of issue for face value plus a £25 booking charge, beats scalpers)
Amex points £1 = 1point transferable point for point to each airline
Amex partner airlines are https://www.americanexpress.com/us/rewards/members...
HSBC points £1 = 1 point, but when they transfer to airlines it 2-1, so the points are worth 50% less
Amex partner offers in the app are great too - they even sent a £100 harrods voucher for xmas, and during lockdown gave £100 Cashback against £100 or more spend with Waitrose, M&S and Aldi (plus some others) - twice.
Mega amex offer on currently - spend £500 or more with etihad and get £250 back
The lack of outlets for amex is a fallacy, more and more place take it than ever before, especially now with smaller retailers. This is because they run the Amex shop small campaign twice a year - £10 cash back against £20 or more spend in small independents
If you asked me to ditch one of the cards, it would be the HSBC, as I mainly travel on emirates and Virgin.
If you travel on BA a lot, I'd do the AMEX platinum BA Card, as its 2 points to the £1, but BA only
If you know someone with an AMEX (hint), they can send you a referral code (second hint), where you get 30-40k sign up points (they get some too).
For example - and upgrade from economy to business on emirates from the uk to Dubai is 36k points, but would cost about £1200 if you paid for it, on virgin Manchester to New York was 32k points to go to upper class from economy.
just my 2p
MrOrange said:
I have a Santander Select account and I would say it’s not worth it, not at all. If you want travel-stuff (Lounge access, travel/gadget insurance, cheap FX) then I use Revolut or Curve, both which have lots of extended benefits (insurance, trading, cashback, premium cards, MC Elite etc) for a few quid a month and much better Apps. Hardly use my AMEX at all these days.
Must have a look at the Revolut and Curve accounts that come with lounge access/travel insurance etc. Edited by MrOrange on Saturday 21st November 12:36
I have a Santander select account with the world elite credit card or whatever name it has. £15 a month which I have used extensively (pre covid) for lounge access 2-6 times a month so pays for itself but always interested in alternatives.
Also have a nationwide flex plus account which is £13 a month and includes travel insurance, mobile insurance and break down cover.
Insurancejon said:
I use a mix of HSBC Jade, which comes with the world traveller elite card FOC, and AMEX. Both the card come with concierge and lounge access, but the points with AMEX are much better. They both cover different airlines on the points too.
Jade Concierge (provided by Ten) is better for event tickets (usually mange to get sold out gigs on day of issue for face value plus a £25 booking charge, beats scalpers)
Amex points £1 = 1point transferable point for point to each airline
Amex partner airlines are https://www.americanexpress.com/us/rewards/members...
HSBC points £1 = 1 point, but when they transfer to airlines it 2-1, so the points are worth 50% less
Amex partner offers in the app are great too - they even sent a £100 harrods voucher for xmas, and during lockdown gave £100 Cashback against £100 or more spend with Waitrose, M&S and Aldi (plus some others) - twice.
Mega amex offer on currently - spend £500 or more with etihad and get £250 back
The lack of outlets for amex is a fallacy, more and more place take it than ever before, especially now with smaller retailers. This is because they run the Amex shop small campaign twice a year - £10 cash back against £20 or more spend in small independents
If you asked me to ditch one of the cards, it would be the HSBC, as I mainly travel on emirates and Virgin.
If you travel on BA a lot, I'd do the AMEX platinum BA Card, as its 2 points to the £1, but BA only
If you know someone with an AMEX (hint), they can send you a referral code (second hint), where you get 30-40k sign up points (they get some too).
For example - and upgrade from economy to business on emirates from the uk to Dubai is 36k points, but would cost about £1200 if you paid for it, on virgin Manchester to New York was 32k points to go to upper class from economy.
just my 2p
I use Amex as much as I can had four flights prem or UC to USA for at least 10 years. Have two UC on hold, obviously for next summer and two for this Xmas. Through Amex I get virgin gold and emirates elite as well as Hilton diamond, amongst many others. Jade Concierge (provided by Ten) is better for event tickets (usually mange to get sold out gigs on day of issue for face value plus a £25 booking charge, beats scalpers)
Amex points £1 = 1point transferable point for point to each airline
Amex partner airlines are https://www.americanexpress.com/us/rewards/members...
HSBC points £1 = 1 point, but when they transfer to airlines it 2-1, so the points are worth 50% less
Amex partner offers in the app are great too - they even sent a £100 harrods voucher for xmas, and during lockdown gave £100 Cashback against £100 or more spend with Waitrose, M&S and Aldi (plus some others) - twice.
Mega amex offer on currently - spend £500 or more with etihad and get £250 back
The lack of outlets for amex is a fallacy, more and more place take it than ever before, especially now with smaller retailers. This is because they run the Amex shop small campaign twice a year - £10 cash back against £20 or more spend in small independents
If you asked me to ditch one of the cards, it would be the HSBC, as I mainly travel on emirates and Virgin.
If you travel on BA a lot, I'd do the AMEX platinum BA Card, as its 2 points to the £1, but BA only
If you know someone with an AMEX (hint), they can send you a referral code (second hint), where you get 30-40k sign up points (they get some too).
For example - and upgrade from economy to business on emirates from the uk to Dubai is 36k points, but would cost about £1200 if you paid for it, on virgin Manchester to New York was 32k points to go to upper class from economy.
just my 2p
It does cost a fair bit, it’s by invitation only, but I certainly get my money’s worth.
Due to travel restrictions they have made up for it .
rdjohn said:
I think it is best to view such offers as a way of banks offering higher profit services to wealthy individuals.
It save them a lot of time when trying to improve margins from customers.. The colour of your credit card may stroke your ego, but someone else is profiting from your inner glow.
If you are not going to use the benefits then they are a complete waste of time. But if you do then having everything under one roof makes it worth it for saving the hassle.It save them a lot of time when trying to improve margins from customers.. The colour of your credit card may stroke your ego, but someone else is profiting from your inner glow.
Have the black account from Natwest also. Agree with all of the above, AND I would say the concierge thing isn't awful either, I sent them a list of places I wanted booked in New York last year and they sorted everything, and some of these places were a bit difficult to get a table at, so they did a good job there.
David Beer said:
Insurancejon said:
I use a mix of HSBC Jade, which comes with the world traveller elite card FOC, and AMEX. Both the card come with concierge and lounge access, but the points with AMEX are much better. They both cover different airlines on the points too.
Jade Concierge (provided by Ten) is better for event tickets (usually mange to get sold out gigs on day of issue for face value plus a £25 booking charge, beats scalpers)
Amex points £1 = 1point transferable point for point to each airline
Amex partner airlines are https://www.americanexpress.com/us/rewards/members...
HSBC points £1 = 1 point, but when they transfer to airlines it 2-1, so the points are worth 50% less
Amex partner offers in the app are great too - they even sent a £100 harrods voucher for xmas, and during lockdown gave £100 Cashback against £100 or more spend with Waitrose, M&S and Aldi (plus some others) - twice.
Mega amex offer on currently - spend £500 or more with etihad and get £250 back
The lack of outlets for amex is a fallacy, more and more place take it than ever before, especially now with smaller retailers. This is because they run the Amex shop small campaign twice a year - £10 cash back against £20 or more spend in small independents
If you asked me to ditch one of the cards, it would be the HSBC, as I mainly travel on emirates and Virgin.
If you travel on BA a lot, I'd do the AMEX platinum BA Card, as its 2 points to the £1, but BA only
If you know someone with an AMEX (hint), they can send you a referral code (second hint), where you get 30-40k sign up points (they get some too).
For example - and upgrade from economy to business on emirates from the uk to Dubai is 36k points, but would cost about £1200 if you paid for it, on virgin Manchester to New York was 32k points to go to upper class from economy.
just my 2p
I use Amex as much as I can had four flights prem or UC to USA for at least 10 years. Have two UC on hold, obviously for next summer and two for this Xmas. Through Amex I get virgin gold and emirates elite as well as Hilton diamond, amongst many others. Jade Concierge (provided by Ten) is better for event tickets (usually mange to get sold out gigs on day of issue for face value plus a £25 booking charge, beats scalpers)
Amex points £1 = 1point transferable point for point to each airline
Amex partner airlines are https://www.americanexpress.com/us/rewards/members...
HSBC points £1 = 1 point, but when they transfer to airlines it 2-1, so the points are worth 50% less
Amex partner offers in the app are great too - they even sent a £100 harrods voucher for xmas, and during lockdown gave £100 Cashback against £100 or more spend with Waitrose, M&S and Aldi (plus some others) - twice.
Mega amex offer on currently - spend £500 or more with etihad and get £250 back
The lack of outlets for amex is a fallacy, more and more place take it than ever before, especially now with smaller retailers. This is because they run the Amex shop small campaign twice a year - £10 cash back against £20 or more spend in small independents
If you asked me to ditch one of the cards, it would be the HSBC, as I mainly travel on emirates and Virgin.
If you travel on BA a lot, I'd do the AMEX platinum BA Card, as its 2 points to the £1, but BA only
If you know someone with an AMEX (hint), they can send you a referral code (second hint), where you get 30-40k sign up points (they get some too).
For example - and upgrade from economy to business on emirates from the uk to Dubai is 36k points, but would cost about £1200 if you paid for it, on virgin Manchester to New York was 32k points to go to upper class from economy.
just my 2p
It does cost a fair bit, it’s by invitation only, but I certainly get my money’s worth.
Due to travel restrictions they have made up for it .
For current accounts we have three each just in case one of their website's goes down when I need it or the bank folds. I use TSB a lot as I've no time for card readers abroad. Generally nearly all our spend goes on a Amex Gold card, unless booking Marriott hotels were I use Marriott's own Amex card or at a Hilton Hotel when I still use their now defunct visa card. And as other's have said above the offers you get for holding some cards can be very generous indeed. Don't just get one card but have a couple i.e. Visa, Amex, Mastercard so you can always pay a bill.
MarkGArgyle said:
Hi,
Tried to search but didn't see any recent posts for this.
Recently moved back to the UK after 7yrs away and have lost track of what constitutes a good bank account / credit card. I have a salary which should qualify for a premium account (at least for HSBC Premier as I looked). Minimal savings as most will be going to the new house and car.
I would like (in no particular order);
- High street access (cashpoints, paying in cheques etc)
- Cash back on credit cards / direct debits
- Lounge access (pre COVID I used to fly for work but with so many different airlines it was difficult to get status to the needed level) . Of course this has stopped right now but expect to be back at it from Q1 next year. Willing to pay a premium for this if needed.
- Not AMEX unless this is more readily accepted these days than I recall
- Don't need overdraft or balance transfer perks as tend to avoid borrowings and have no loans etc today
- Other benefits; mobile insurance, breakdown cover, travel insurance etc if possible.
Would I be better getting a standard account and premium credit card, both or neither?
So far Natwest Premier Reward Black, Santander Select with added mastercard look interesting - any experience of these or others?
Advice from PH needed please as the options are making my head spin!
Did you get anywhere, some good points given. Tried to search but didn't see any recent posts for this.
Recently moved back to the UK after 7yrs away and have lost track of what constitutes a good bank account / credit card. I have a salary which should qualify for a premium account (at least for HSBC Premier as I looked). Minimal savings as most will be going to the new house and car.
I would like (in no particular order);
- High street access (cashpoints, paying in cheques etc)
- Cash back on credit cards / direct debits
- Lounge access (pre COVID I used to fly for work but with so many different airlines it was difficult to get status to the needed level) . Of course this has stopped right now but expect to be back at it from Q1 next year. Willing to pay a premium for this if needed.
- Not AMEX unless this is more readily accepted these days than I recall
- Don't need overdraft or balance transfer perks as tend to avoid borrowings and have no loans etc today
- Other benefits; mobile insurance, breakdown cover, travel insurance etc if possible.
Would I be better getting a standard account and premium credit card, both or neither?
So far Natwest Premier Reward Black, Santander Select with added mastercard look interesting - any experience of these or others?
Advice from PH needed please as the options are making my head spin!
Just a note about Barclays, they are pulling their Premier Rewards program which is a shame. We’ve had some half decent free bottles of wine and discounts from Majestic and free membership to National Trust sites.
The Premier account is free so I don’t judge it’s benefits too harshly but you get a dedicated team on the phone 24/7 and access to some ‘better’ rates for loans and mortgages. The ATM daily limit of £1000 is very helpful.
The Premier account is free so I don’t judge it’s benefits too harshly but you get a dedicated team on the phone 24/7 and access to some ‘better’ rates for loans and mortgages. The ATM daily limit of £1000 is very helpful.
How do you get the £31 covered off on the Nat West Premier Reward Black?
Looking on their website it states:
"£9 a month back in Rewards on 2 Direct Debits - they need to be at least £4.50 each"
"£1 a month back in Rewards when you login to our mobile app"
That's only £10. I know there is 1% reward 'cashback' for certain purchases but they are no different to the Premier Reward account that costs £2pm which I've already got.
Excluding 'lounge access' which doesn't bother me I'd have to work out if travel insurance and breakdown cover costs more than the monthly net costs to make it viable. Working it out on the back of a fag packet, it doesn't.
Looking on their website it states:
"£9 a month back in Rewards on 2 Direct Debits - they need to be at least £4.50 each"
"£1 a month back in Rewards when you login to our mobile app"
That's only £10. I know there is 1% reward 'cashback' for certain purchases but they are no different to the Premier Reward account that costs £2pm which I've already got.
Excluding 'lounge access' which doesn't bother me I'd have to work out if travel insurance and breakdown cover costs more than the monthly net costs to make it viable. Working it out on the back of a fag packet, it doesn't.
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