Are rate tarts a thing of the past?
Mon, 18/08/2008 - 11:58
I have both my credit card and my current account with First Direct. I know full well that they aren't offering me the best deal on either product - however I've got absolutely no plans to switch.
I always find FD really pleasant to deal with on the phone and on the odd occasions where they have messed up over the years they've been very apologetic and have offered me compensation. I also find it really straightforward linking my current account with my credit card - come pay day I check my balance at pay it off.
Not only does this mean I have one less log-in / password combo to remember but it also means that when I go online to check my bank statement I can also see how my credit card is looking.
I don't know whether it's trust or loyalty that's the issue here though, for me it's probably convenience.
Fri, 03/10/2008 - 12:39
That's just what I thought until one day when I had nothing better to do I tried First Direct. Best thing I ever did. They made it so easy to switch and gave me £100 for doing it. They kept me informed at every step of the way and did everything they said they would.
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A new survey from Lloyds TSB suggests that trust is now more important to consumers than interest rates.
The bank say that its research shows the days of rate tarts constantly chasing the best deals are dead, with more people now concerned with brand and long-term security.
What do you think? Has the credit crunch and collapse of Northern Rock meant you are more careful about who you bank with?
Or does rising inflation mean it is even more important to find the best deal?