Archive: MoneySavingExpert's Money Tips Email

Two super-long 0% deals launch this week, for those shifting existing debts to slash interest costs, though they need reasonable credit scores. Do ensure you ALWAYS clear the card in full or switch again before the 0% ends though, or the rate jumps to the high APR. Plus remember spending isn't usually at 0%.

• Longest ever 0% - Barclaycard 18 mths 2.9% fee. Launched today (Weds) Barclaycard's* new customer Platinum deal is 18 months 0% for a one-off 2.9% fee. Plus apply in Feb and transfer more than £3,000 and you get £20 knocked off the fee. When the 0% ends the rate jumps to 16.9% representative APR.
  
• New! Nationwide 17 mths 0%, 2.95% fee. The Nationwide* credit card now gives accepted new cardholders 17 months 0% on shifted balances, for a 2.95% fee, then jumps to 15.9% representative APR.
  
• Can pay off quicker? If you don't need quite this long to clear your debts, a different Barclaycard* Platinum is interest free for 14 months, with a lower 2.7% fee, and also chops £20 off that if you switch £3,000+. Though fail to clear the debts in time and it jumps to 16.9% representative APR.

FULL details including top cards if you need longer, see the Updated Guide: Balance Transfers also Official APR examples

Housing benefits slashed in April. New Guide
A million people face average £600/yr cuts. Find who's affected & how to protect yourself
If you receive housing benefit or plan to claim soon, you need to know massive changes are coming, eg, a big house in Brighton could see the payout drop from £1,800 to £1,300 a month.

• The rate paid will drop. Currently payments are based on the median (or middle) value of properties in the area, meaning 50% of other local properties are more expensive and 50% less. From 1 April it'll be set so 30% of properties are less expensive and 70% more.
  
• Payouts will now be capped. Payouts are currently unlimited, from April it'll be a max £250/week for a 1 bed property, up to £400 for a 4 bed (the new max. number of bedrooms considered, it was five). Plus, if your rent's less than the allowance you can no longer keep the difference.
  
• What to do? For most these changes are unavoidable, so you must plan asap. First find out your new benefit level (see the guide) and do a budget (Free Budget Planner) to ensure you're managing the income reduction. Do a full Benefits Check Up to ensure you’re getting everything you’re entitled to. FULL info on how to do all this, and the changes in detail in the New Guide: Housing Benefit Cuts Help

New! Inflation beating Post Office savings
Plus new top 2.95% easy access savings | Inflation beating cash ISA too
It's a savers nightmare, inflation's high, interest rates low. Prices are rising more than most savings are growing, meaning cash in the bank may buy less than when you put it in. The key is to MAX your interest. All these have full £85,000 UK savings protection.

• Post Office Inflation + 1.5% savings. Lock a min. £500 away for 5 years in the Post Office's* (not NS&I) new Inflation Linked Bond, and each year it pays April's annual RPI inflation rate plus 1.5%, eg, at RPI's current 5.1% that's a big 6.6%. The interest is taxed and doesn't compound (ie, no interest on interest). Of course, inflation's high now, over 5 years it could drop while interest rates rise leaving this looking poor. See this as an 'inflation-proofer' rather than a guaranteed high rate.
  
• Inflation beating cash ISA. Yorkshire BS's also launched a range of 5 year inflation trackers. Lock your cash in its Protected Capital ISA (min £3,000) to get the change in RPI over the five years plus 1.5% (ie, a one-off 1.5% not annual like the Post Office). The boon is you can save up to £5,100 this year tax-free, so it's guaranteed to beat inflation. It's a bit fiddly though, so see the guide for full info.
  
• New! Top 2.95% easy access. To access your cash anytime, Nationwide's* new MySave Online Plus account (min £1,000) pays 2.95% AER, though only the first withdrawal each year is interest penalty free. For unlimited free withdrawals, both Post Office and Santander* offer online accounts at 2.9% AER. All these accounts involve year-long intro rate hikes, and will plummet after, so diarise to ditch & switch.

FULL pros, cons, top fixed accounts & more options see the Updated Guides: Top Savings, Top Cash ISAs

Ensuring your favourite charities get the max cash isn't as simple as chucking coins in a bucket. Donate the right way and you can boost what they receive by over 50%...

• Gift Aid bonus ends April. Charities get to claim back the UK tax paid on money donated, so if a basic taxpayer gives £1 the charity gets £1.28. The eagle eyed amongst you will have spotted they're reclaiming 3p per £1 donated more than the tax, as in 2008 when income tax was cut the govt. said charities could keep the higher amount until 5 April 2011. So if you're planning to donate do it asap, and they get more.
• Donate to Oxfam via Paypal for 100% giving. During Feb, donate to global poverty charity Oxfam via Paypal and it'll cover all Oxfam's costs. That means ALL its running costs, so every penny donated goes to good causes - and of course do it by Gift Aid and it gets even more.
  

For more tips including donating shares & charity chequebooks, see the Updated Guide: Charity Giving

Last Chance! Credit score rebuilder 0% card
Ends 28 Feb! Limited CCJs & defaults accepted, get 0% for 3 months
Getting a card (regardless of rate), spending a little & repaying IN FULL every month to avoid interest helps you rebuild your credit score. Ends 28 Feb: Go via this link to a comparison site and the Capital One* Classic card gives accepted new customers 0% spending until their June statement (so 3mths +), yet after that it jumps to a mammoth 34.9% representative APR. Who can get it? It's a specialised poor credit card, so even some with limited CCJs and defaults may be accepted (not bankruptcy). How to use it? Most should just spend & clear it each month. Yet for the self-disciplined needing short-term borrowing who can repay WITHIN 3mths, it is an option. It may also be an emergency tool for those facing repeated bank charges - put a little spending on this instead of from your bank account, to get that under the limit, then try and clear the card after (but keep to a tight budget & be careful). Just aim to ensure the debt is FULLY CLEARED before the rate jumps. FULL step-by-step info and more card options in the Updated Guide: Top Credit Rebuild Cards Related: Free Credit File Check. See Official APR examples

The new tax year starts six weeks today, if you haven't stashed cash in a 2010/11 ISA yet, the clock's ticking. A cash ISA's simply a tax-free wrapper for your cash, effectively just like a normal savings account, but you can put £5,100 this tax year, safe from the taxman's clutches.

• New! Top rate 1 year fix - 3.2% AER. Get a guaranteed 3.2% on new ISAs & transfers with Barnsley* Building Society (min £100), but withdraw cash early and there's a big 120 day interest penalty. If you want to fix for longer (all have hefty early withdrawal penalties): Top 2 year: Halifax* 3.5% 3 year: Aldermore 4.01%; 4 year: Halifax* 4.25% 5 year: Northern Rock 4.30% (mins. £100-£1,000)

• Top Easy Access 2.88% AER. West Brom BS* pays 2.88% (min £1,000) and allows access to your cash, though withdraw 4+ times a year and you pay penalties. Alternatively Santander* pays 2.85% (3% to some existing customers) with no penalties for new ISAs, Halifax* 2.8% (3% to some existing customers) for new ISAs & transfers and existing Nationwide* cardholders can get 2.9% AER. ALL four of these deals include rate boosts for the first year, so diarise, ditch & transfer when that ends.

ISA Watch will continue each week now until the ISA season ends. For more best buys read the Updated Guides: Top Cash ISAs, ISA Transfers or see the full How ISAs work guide