Jun

2022

Archive: MoneySavingExpert's Money Tips Email

Over 50 ways to save, incl... 10,000 x free £50 investments, are u due £3,300/year?, free ice cream, 213Mb broadband £18/month, Ikea 50% off, as petrol hits £100/tank 20 ways to save, cheap home insurance, £5 off local shops, 24 beers £26, kids go free theatre

This info may be out of date. Read this week's emails

THE TOP TIPS IN THIS EMAIL

NO-FEE 0% balance transfer bonanza - up to 33 months interest-free

Over 65 with income under £200/week? Check if you're due £3k+ a year

6 steps to slash home insurance costs

New. FREE £50 investment

FREE ice creams, Tango, Evian via coupons

Martin's important energy bill update

Stop press. Megafast 213Mb Virgin broadband '£18/month'

Cut petrol & diesel costs

Amex £5 off £15 at local shops

Don't pay council tax by direct debit? How you'll get £150 rebate

'I got £100s in compensation for cancelled flights'

Ikea 'up to 50% off' summer sale

'Free' kids' West End theatre tickets

Passport delays: your rights

24 craft beers for £26

Boost your Marcus savings rate

MSE Charity grant-giving starts soon

MSE's response to Government's Online Advertising Programme

This week's best buys, including £170 bank bribe, 1.56% easy-access savings, 10GB Sim '£4.50/month'

Should I give my brother a better power tool as I broke his?

BEST BUYS & TOOLS

MSE Cheap Mobile Finder

Credit Club including free credit report

0% balance transfers

Compare broadband deals

MSE Car Insurance Compare+

Best bank accounts

Top savings accounts

Credit cards for bad credit

Credit Card Eligibility Calculator

Loans Eligibility Calculator

Mortgage comparison

Compare travel money

Cheap Energy Club, with Pick Me A Tariff

Best Sim-only deals

Can't afford to clear your credit card(s)? You can't afford not to check if you can get a 0% balance transfer

A bonanza of NO-FEE 0% deals this week let you shift debt for up to 22 months at no cost

If you're paying interest on credit cards, a balance transfer can often save £100s or £1,000s. It's where you apply for a new card to repay existing credit/store cards, so you owe it the money instead, but at 0% interest. This means repayments go to clear what you owe - rather than paying off the interest - so you get debt-free quicker.

10-second summary: Lots of good balance transfer deals are on this week. Use our 0% Balance Transfer Eligibility Calculator to see which you're most likely to be accepted for, without affecting your ability to get future credit. Then pick a card with a high acceptance chance and the lowest (or no) fee, which has enough time at 0% for you to repay in. If unsure, play safe and go long.

The impact can be huge, as it was for John, who emailed: "Over the past year I used your site three times to gradually get all my credit card debt on to 0% cards, saving just over £190 per month in interest, which I'm using to pay off the debt as quickly as possible."

Top new-cardholder 0% balance transfers (by length) Go for the lowest-fee card in the time you're sure you can repay in
Card	Key info	Help to decide...
Ends Wed. Virgin Money Best to check acceptance odds first, or apply direct*.	- 34 months 0% - 2.7% fee - 21.9% rep APR interest after the 0%	Longest 0% deal but hefty fee. All accepted get the headline deal. Yet the fee is £27 per £1,000 shifted - lower fees are available if you can pay off in less time.
CASHBACK NO LONGER AVAILABLE TOP PICK 1 Ends Fri. HSBC Best to check acceptance odds first, or apply direct*.	- 33 months 0% - 2.7% fee, min £5 ~~- £25 cashback if shifting £100+ within 60 days (this bit ends on Friday)~~ - 21.9% rep APR after the 0%	~~Longest 0% that's 'NO FEE' for some.~~ ~~For those shifting £100 to £925, the cashback is bigger than the fee, so essentially it's a no-fee (or better) card.~~
New. Sainsbury's Best to check acceptance odds first (pre-approval available), or apply direct*.	- Up to 29 months 0%, but some get just 21 months - As low as 1% fee, but some are charged 2% (min £3) - 21.9% rep APR after the 0%	Long 0%, lowish fee but it's an 'up to'. Here what 0% and fee you get depends on your credit score, but for larger transfers, if you get the full 0% and lower fee option, it can be cheaper than HSBC.
New. Sainsbury's Best to check acceptance odds first (pre-approval available), or apply direct*.	- Up to 22 months 0%, but some get just 14 months - As low as NO FEE, but some are charged 1% - 21.9% rep APR after the 0% NatWest and RBS also offer existing customers 22 months NO FEE	Longest NO-FEE card but an 'up to'. A clean option with no fee for many, so if you can repay in 22 months it wins for bigger transfers. And while it's an 'up to' card, if our eligibility calculator shows you as PRE-APPROVED, you can be sure you'll get the full 22 months and NO FEE.
TOP PICK 2 New. Santander Best to check acceptance odds first, or apply direct*.	- 21 months 0% - NO FEE - £30 Amazon voucher - 21.9% rep APR after the 0%	Longest definite NO FEE 0% and £30 voucher. If you're accepted and can clear the debt within 21 months, this is the winner. There's no fee, and most can claim a £30 Amazon voucher (you'll get an email in Sept telling you how). Those who've had vouchers from a Santander card in the last 6 months won't get another.

You can't balance-transfer between cards issued by the same bank or banking group. For example, if you've debt on a card from Royal Bank of Scotland, you can't transfer it to a NatWest card as they're part of the same group.

Getting the right card is only the start point. To make it work, follow our Balance Transfer Golden Rules...

a) Clear debt before the 0% ends. Clear it or transfer again before the 0% ends or you'll pay the rep APR - which is usually about 22%, but can be higher. It's not cheap, so don't pay it.

b) Never miss the minimum monthly repayment. Or you can lose the 0%. Set up a direct debit for the minimum payment as a safety measure to ensure it happens. Yet it's better to pay debts off quicker if you can - so try to make manual repayments on top too.

c) Don't spend/withdraw cash on the card. It usually isn't at the cheap rate and it's best not to build up other debt while you're trying to repay what you've already got.

d) Do the transfer at application. You can normally tell the provider about the balances you want to transfer during the application - if you're accepted, it'll then contact the lenders and shift the debt for you. If you don't do it then, you usually have a further 60 or 90 days to request it and still get the 0% offer - but each card's different, so check.

A balance transfer can be very simple - if everything works out. But what do you do if you've low eligibility or don't get a high enough credit limit. We've answered your key balance transfer questions here...

Should I apply if my best eligibility score is only 20%? Don't immediately be put off by low odds. A 20% chance means two in every 10 are accepted, and even at 90%, one in 10 will be rejected. Martin often tells a tale of something that happened a few years ago, which may help if you've low odds...

"I sat with a MoneySaver who had large, costly card debt and a poor credit history. Her eligibility showed zero chance of all balance transfers, except a 20% chance with Halifax. She asked me if there was any point.

"I explained that as it was the only credit she needed - there was no mortgage application or similar due - it didn't overly matter that a rejection would mark her file. The reason to protect your credit history is so you can get maximum use from it when it's needed.

"This was her most pressing financial need, so a 20% chance was better than nowt. The worst that could happen was a rejection. She applied and got a 26-month 0% card with a £1,500 limit."
What if my credit limit's not high enough to transfer all my debt? If you get a card, but the credit limit isn't big enough to shift all your debt over, don't give up. The application is now on your credit file - so shift as much of the highest APR debt as you can to the new card.

Then use our 0% Balance Transfer Eligibility Calculator again to see your chances of acceptance for other providers' cards. If there's a good chance for another card, apply - though each subsequent application can get harder as too many can indicate you're desperate for credit. If you have another important application to make - such as a mortgage or car loan - then it's better to prioritise that.
What if the eligibility calculator says I've "no chance" for all cards? If you can't get a new 0% card, you can sometimes use existing cards to move debt where it's cheapest. For example, if one credit card charges 18% and it isn't up to the credit limit, but your 30% card is, you may be able to shift debt from the 30% to the 18% card, saving you cash.

Some cards also have 'existing-customer balance transfer offers' - for example, 12 months at 0% for a 3% fee. Not a great offer compared with the top cards, but at least it provides a respite. See the credit card shuffle for how this all works.
Should I pay off my credit cards or my overdraft first? Some try to repay their biggest debt first, or spread repayments equally. However, it's the debt with the highest APR that's growing most quickly, so that's the priority to pay off. For many, this'll be an overdraft charging 40% interest.

Focus all spare cash on clearing the highest APR debt, paying just the minimum on all others (this may include your newly transferred credit card debt). Once it's clear, focus on the next highest APR, and so on.

The tips above are for those who can afford to meet their credit card payments and want to make them cheaper. If you can't, you need a different tack. Answer these three questions...

- Do you have sleepless nights or depression/anxiety over debt?
- Do you struggle to meet minimum monthly payments?
- Is your total debt (excluding mortgage/student loan) over a year's salary?

If you answer yes to any of these, forget balance transfers and instead get free, one-to-one debt-counselling help from Citizens Advice, StepChange or National Debtline. And if you need emotional support, try CAP. They're there to help, not judge. The most common thing we hear after is: "I finally got a good night's sleep."

And don't feel alone; there's no stigma; you can sort this. Read inspiring stories in our Debt-Free Wannabe forum, and see our Mental Health & Debt and Debt crisis help guides.

DON'T believe the fake 'Martin Lewis' or 'MSE' ads
Lots of scam ads litter social media and even newspaper websites - some of these lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning.

Martin's Big Message...
Are you over 65 with income under £200/wk? You may be due up to £3,300/yr extra cash. DON'T STALL, JUST CALL

It's a national tragedy that nearly 1m pensioners miss out on a big income boost via Pension Credit. Please help SPREAD WORD

Today (Wed) is the snappily named Pension Credit Day of Action. It's not often I agree to team up with the Government on a campaign, but I was happy to offer assistance for this one, as it's a national tragedy that getting on for a million pensioners, many of whom have been paying into the system for years, are missing out on a major income boost. So let me speedily take you through my three Pension Credit need-to-knows...

1. You can check if you're due money at speed, via web or phone. So don't stall, just call. As always with these things, exact rules are complex, so I've designed a simple rule of thumb on WHO SHOULD CHECK...

If you're of state pension age (66 or older) and have total weekly income under roughly £200, then get online or call the Pension Credit helpline to see if you're due.

I'm not saying everyone in this position is due money, but many are, so if you're in this boat, it is absolutely worth five minutes to check. And don't worry, the worst that can happen is they say no. So don't stall, just call (actually try the website first if you're more comfortable with that, but I couldn't think of a rhyme that worked for you going online).

Q. Can I get it if I'm a homeowner / claim other benefits / live with grown-up family? Yes.
Q. What counts as 'total income'? Income from work, pension, state pension, some benefits, and savings/investments over £10,000 (this is counted as £1 per week in income per £500 of savings above £10,000 - if only).

2. Pension Credit's a naff name for what's simply an income 'top-up' payment. Technically it's a means-tested benefit to help those without enough to live off, with two parts:

Guarantee Credit: This tops your income up to at least £182.60/week for singles or £278.70/week for cohabiting or married couples of state pension age. You may get more if you've got extra 'responsibilities', such as a severe disability, are a carer, or look after an under 20-year-old. The average top-up is £65/wk, so that's £3,300/year.
Savings Credit: If you hit state pension age before Apr 2016 (so you're roughly aged 71+) you may be due a top-up if you have savings, even if you're not due Guarantee Credit - the aim was to stop those who'd put something aside for their future being disadvantaged. I'm going to explain how it works, but it is really complex, so most should just call to check.

Here goes... if some of your current income is from savings (it's counted as £1 per week income per £500 of savings above £10,000) and that takes you above £158/wk in income (£252 for a couple), then you get 60p extra paid per £1 of income up to a maximum £14.50 a week. See worked examples.

3. Pension Credit has a superpower... it's a gateway entitlement triggering many other boons. If you're entitled to the Guarantee Credit element, this also entitles you to a host of other state protections...

Urgent: £650 lump sum to help with energy bill rises (£325 paid in July, £325 autumn). The Chancellor announced this cash last month. And while for those on other benefits you needed to be claiming them at the time to be due the first payment, for Pension Credit, provided you claim by 24 Aug, it'll be due (as long as you were state pension age by May).
Free TV licence for over-75s (worth £159/yr). See Should I pay the TV licence?
Housing benefit worth £1,000s for some renters. Housing benefit is an extra sum - the amount depends on where you live and how many people you live with.
Council tax reduction. This can be worth up to £1,000/yr. See how to cut council tax costs.
Energy bill reductions. This includes £25/wk cold weather payments and the £150 warm home discount.

There's also free dental care, vouchers for glasses and more - see full Pension Credit gateway benefits.

New. FREE £50 investment - just put in £50, get £50 cashback. (Only 10,000 available). Robo-investment firm Wealthify gives newbies £50 cashback after 12 months on £50 invested. So open an account, then put your £50 in and wait - and even if your investments flop, at worst you pretty much break even. Full info in Robo-investing cashback.

FREE ice creams, FREE Tango, FREE Evian - it's our June coupons update. See our latest list of over 50 supermarket coupons.

Martin's important energy bill update: 'I promised to let you know when it was time to fix energy. Well, for many (not all) that's now, as for the first time in 2022 there are fixes most should consider'. In case you missed it last week, see Martin's important energy bill update.

Stop press. Eye-wateringly fast 213Mb Virgin broadband & line just '£18/month'. MSE Blagged. It's just gone live and is on till Thu 23 Jun. Newbies can get this Virgin Media 213Mb broadband & line deal for £23.95/month, with an automatic £100 bill credit (so nowt to pay for 4 months, unless you make calls). Over the 18-month contract, it's equivalent to £18.40/month - it's the fastest cheap deal we've ever seen. Available to 55% of homes. If you're not sure, we'll bring you more detail on it next week. Not in your area / just want the cheapest deals? Use our broadband comparison.

It now costs £100 to fill up a typical petrol tank. See our 20+ tips to cut petrol & diesel costs guide.

Amex £5 cashback on £15+ spends at 1,000s of local stores. We're often unable to mention deals from smaller shops, but this Amex £5 off £15 deal is for independent stores. It's on from Monday, but you need to register first. Remember to pay the card off IN FULL to avoid interest.

In council tax bands A to D, but don't pay by direct debit? Here's how your £150 energy rebate will be paid. We contacted 330+ councils in England, Scotland and Wales - find out how you'll get it in our council-by-council breakdown.

'I got £100s in compensation after my Easyjet flights were cancelled.' Our success of the week comes from Helen, who used our flight reclaim tool to bag £440 in compensation after her flights were cancelled with little notice. She said: "I got £440 in compensation for cancelled Easyjet flights using your tool, and it only took five minutes to complete the form. Thanks Martin." If we've helped you save, please send us your MoneySaving successes (on this, or anything else).

BLAGGED FOR MSE

- 213Mb Virgin broadband & line '£18/month' Ends Thu 23 Jun
- 24 Beer52 craft beers for £26 all-in 10,000 boxes available

DID YOU MISS?

- Virgin 1.56% vs Chase 1.5% top easy-access savings fight
- Boots trick to get £37 of No7 cosmetics for £13.50
- Premium Bonds rate boosted to 1.4% - but are they worth it?
- Chased for British Gas and E.on bills you don't owe?
- Find FREE summer festivals and carnivals near you

6 steps to slash home insurance costs - as some prices hit their lowest rates for a decade. Can you save £100s?

If you haven't checked your home insurance in a while, now is the time. According to latest figures from trade body the Association of British Insurers, standalone buildings or content insurance prices are the lowest in at least a decade, while combined policies are at the cheapest level in four years. Our Cheap home insurance system shows how to cut costs, as Bernard emailed: "I had a renewal quote at £792. After following your steps, I renewed with a new firm for £123 [saving £669] - and it is an actual like-for-like quote. I couldn't believe it, thanks again." Here's a brief summary...

PS: Also try our recently launched MSE Car Insurance Compare+ tool...

Step 1. Establish what cover you need. Everyone, including renters, should consider contents insurance, but buildings insurance is usually only for freehold homeowners (otherwise it's the management company or landlord's responsibility).

- Contents insurance: beware underinsuring. Imagine your home turned upside down. Contents insurance typically covers everything that'd fall and a few extras. Many underinsure, thinking: "I'd never claim more than £10,000 worth", but if you deliberately only insure half your contents' worth, you may only get half the payout. Use a contents calculator to get the right cover.

- Buildings insurance: beware overinsuring. This covers the structure of your home, and permanent fixtures and fixings. Many wrongly insure for their home's market value, but what counts is the 'rebuild value' - how much it would cost to rebuild it if it were knocked down. Use a rebuild cost calculator.
Step 2. COMBINE comparison sites for 100s of quotes in minutes. Whichever cover you're going for, this is the route. Comparison sites zip your info to dozens of insurers and brokers at once. Yet don't just use one as: 1) They can cover different insurers, and 2) They often have different prices for the same firm.

Our current order is 1) MoneySupermarket*, 2) Confused.com*, 3) Compare The Market* (see how we order it). These sites are best for those with standard circumstances - if that's not you, and you find it tough to get quotes, see help if you're struggling to get insurance.
Step 3. Add in the big insurer that comparisons miss. Biggie Direct Line* doesn't appear on comparison sites and can be competitive for some, so is often worth checking. It can particularly work for those who want a high amount of cover, or for existing customers who may get an extra discount.
Step 4. Haggle. If you want to stick with your existing firm, tell it you want to stay, but ask if it can match your cheapest price elsewhere - it will often work. See home insurance haggling help.
Step 5. Can you get cashback? If you're a member of one of the two big cashback sites, you can do a comparison through them, but you won't necessarily get the same prices as with the other comparison sites above, - plus cashback's not guaranteed. However, once you have found your cheapest insurer via a comparison, also see if buying the specific policy through the cashback site gets you more. See full info on how to get cashback.
Step 6. Ensure the policy's right for you before buying. Go through the main terms to check you're happy and check the firm you're buying from is regulated by the Financial Conduct Authority (that shouldn't usually be a problem via the methods above). And remember, if you have a problem or claim unfairly rejected, that means you've a right to escalate any complaints to the free Financial Ombudsman.

Ikea 'up to 50% off' summer sale, for example, £30 mirror for £12. Full analysis, plus 21 more Ikea tips & tricks.

Free West End theatre ticket for kids with a paying adult, for Frozen, Matilda, Wicked & more. The annual 'Kids Week' promo on 40+ shows is back, for August performances. Full info in 'Free' kids' theatre.

Government figures show 10,000s have waited 10+ weeks for a new passport - your rights if your holiday is scuppered. With ongoing Passport Office delays, see Your travel and compensation rights explained.

24 craft beers for £26 all-in. MSE Blagged. 10,000 boxes available. Beer52 (please be Drinkaware).

Marcus easy-access savings customer getting less than 1.3%? Boost your rate with a few clicks. See how to increase your interest rate.

MSE Charity grants: for non-profits supporting those affected by the cost of living crisis. The MSE Charity's next grant round opens at 9am on Monday, focused on helping non-profit groups that provide urgent money guidance and emergency debt help. Grants of up to £7,500 are available - though only 40 applications can be accepted. Check if your group is eligible and see how to apply.

MSE campaigns: read our response to the Government's Online Advertising Programme. We've pushed the Government to make sure it tackles all online scam ads, wherever they are found. Read our full response.

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AT A GLANCE BEST BUYS

Longest 0%: Virgin Money (check eligibility / apply*) - 34 months 0%, 2.7% fee (21.9% rep APR interest)
No-fee 0%: Sainsbury's Bank (check eligibility / apply*) - up to 22 months 0% (21.9% rep APR) or NatWest - 22 months 0% if you're a NatWest/RBS customer (21.9% rep APR)

Standard (10Mb+): Shell Energy '£13.83/month'
Superfast fibre (55Mb+): Vodafone '£15.75/month'
Megafast fibre (200Mb+): Virgin Media '£18.40/month'

Top easy access: Virgin Money 1.56%, no min
Top one-year fix: Atom Bank 2.6%, min £50

Try our new MSE Car Insurance Compare+ tool

Cheapest for £5,000-£7,499: Novuna Personal Finance* 3.6% rep APR (2-5 years)
Cheapest £7,500-£15,000: M&S Bank* 2.8% rep APR (1-7 years)

£170 to switch: HSBC
£150 to switch + TOP service: First Direct

Up to 3GB data: Lebara, '£4.11/month' for 3GB, unlimited mins & texts
4GB-9GB data: Lebara, '£4.28/month' for 5GB, unlimited mins & texts
10GB+ data: TalkMobile, '£4.50/month' for 10GB, unlimited mins & texts

CAMPAIGN OF THE WEEK

Can you spare three hours to help get food to vulnerable people this summer? From Thu 30 Jun to Sat 2 Jul, the charity FareShare will collect long-life food in Tesco stores across the UK to provide support for those in need via foodbanks. With many struggling during the cost of living crisis, you can volunteer to help by encouraging shoppers to donate a few items if they can - see how to sign up. If you want to support foodbanks, but can't spare the time, you can donate food in store (if you can afford to).

THIS WEEK'S POLL

Have you changed your driving habits due to soaring fuel costs? As petrol and diesel prices soar, this week hitting records of £1.85 and £1.91 per litre respectively, we want to know if you and/or your family have had to change your driving habits in response. Vote in this week's poll.

The majority of MoneySavers haven't changed their pension contributions despite the cost of living crisis. Last week, we asked if you've changed your pension contributions in the last six months to free up cash for increased living costs. Just over 3,300 of you responded, and of those who contribute to a pension, most (70%) haven't made any change. But 18% have cut contributions, a figure which rises to 43% for those who are self-employed. See the full poll results.

MSE NEWS

- Top story: Boots Advantage card holder? You've got ONE WEEK to use your card or you'll lose your points
- Watch out for fake text messages claiming to be from Ofgem and offering a £400 energy rebate
- Travelling abroad? Santander offers 1% cashback on overseas spends, but watch out for exchange fees
- Student loan interest rates to be capped at 7.3% from September
- Thousands of Nationwide customers sent new debit cards that don't work

MONEY MORAL DILEMMA

Should I give my brother a better power tool after I broke his? I borrowed my brother's power tool, which broke while I was using it. I went to buy a replacement, but the same model wasn't available, so I bought a more expensive one as I needed to finish the job. It was much easier to use, so I've decided to keep it. I've told my brother I'll buy him the original tool when it's available, or give him the cash equivalent, but he says I should give him the more expensive tool to compensate for the one I broke. Enter the Money Moral Maze: Should I give my brother a better tool? | Suggest a Money Moral Dilemma

MSE TEAM BLOG

- Silk, milk and misty honey - last week's MSE Forum highlights

MARTIN'S APPEARANCES (WED 15 JUN ONWARDS)

Wed 15 Jun - Good Morning Britain, ITV, 8.20am
Wed 15 Jun - This Morning, phone-in, ITV, 10.20am
Wed 15 Jun - Ask Martin Lewis, BBC Radio 5 Live, 1pm. Listen to past episodes

MSE TEAM APPEARANCES (SUBJECT TBC)

Tue 21 Jun - BBC Radio Cambridgeshire, Mid-morning with Jeremy Sallis, from 10.45am

DISHWASHERS, BATHS AND EVEN SOFAS - WHAT 'ESSENTIAL' ITEMS WON'T YOU HAVE IN YOUR HOME?

That's all for this week, but before we go... there have been huge debates on our social channels this week after we asked what items you won't have in your home that others see as essential. Baths, sofas, TVs and toasters were common 'essentials' that some didn't want around, but it was the dishwasher that sparked most debate. Some said they couldn't live without one, while many others had ripped them out on finding one when moving into a new home. One MoneySaver hadn't gone quite that far, though... using their dishwasher as a storage cupboard instead. What household 'essentials' seem unnecessary to you? Let us know via Facebook or Twitter.

We hope you save some money, stay safe,
The MSE team

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Martin Lewis CBE is the founder and executive chair of MSE, as well as the founder of the MMHPI charity. He's an ultra-focused MoneySaving journalist and consumer campaigner with his own prime-time ITV programme The Martin Lewis Money Show, Radio 5 Live Wednesday show Ask Martin Lewis and weekly slot on This Morning, among others. More info: See Martin Lewis' biography.

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