February 17, 2021   |   Articles

Ask Andy #2

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This week I answer your questions on how you become overdrawn, applying for credit cards, charges on savings apps and more.

I love hearing from you, whether it’s on the blog, social media, YouTube or on email. Often you’re asking me questions about your finances, and I’m always glad to help.

But I realised that my answers could also be useful to other followers. So I’ll be putting my responses to the best questions into regular articles here on the blog.

How to ask me questions

The best ways to get in touch is in the Andy Clever Cash Facebook community

Just post your question any time, or ask me live in my weekly Q&A each Thursday (which is also on Instagram).

You can also comment on individual blogposts and videos or ask me questions via these channels:

I can’t promise I’ll be able to answer all questions but I’ll do my best.

Right over to the latest questions…

Do I need a TV Licence to watch sport from Brazil?

I am from Brazil and I was having a conversation with a friend and based on what I read here, even if I am watching a live broadcast like football match originally coming from Brazil for a game via Internet, I still need a TV licence.

Gustavo, via Email

Hey Gustavo,

Yes right – any live viewing – whether on a TV or online – requires one. But if you watch programmes on demand or on catch up then you don’t (as long as it’s not iPlayer).

Will I get charged for using Chip+1?

Andy, via Twitter

Hi Andy,

You won’t have to close the account to get the interest but you will have to withdraw all the money in there, then take out the interest, then put the savings back in. Bit of a faff.

Good news though, you won’t get charged if you go over £2,000, you just won’t earn interest on any money saved above that amount. Though you also aren’t able to earn interest on any interest with Chip+1.

Can I switch a single energy fuel?

Do you know if you can switch just one utility (i.e. gas only) and still receive cashback? It’s a long story but my switch to Octopus (in Nov) didn’t fully work out and I’ve only just discovered that Scottish Power have still been providing my Gas (and charging me a much higher rate than what I would have got with Octopus if the switch had worked out!) I’m now going to move my gas from SP and thought cash back would compensate for the overpayment!

Any ideas if you still get cashback with a single utility or do you need to switch both? As I aside I will also probably switch from Octopus when this is sorted now – or at least look into whether there is a better deal to be had. Thanks so much, I’m a fan of switching but this has been a bit frustrating! and the learning really is just to pay more attention to my bills/DD’s.

Lucie, via the Facebook Group

Hi Lucie,

The best thing is to go into a comparison site (as usual I say go for MSE) and you’ll see the option to switch one fuel. But you might want to switch it to Octopus too so they’re both back in the same place for any future switching.

Whether you get cashback on the single fuel… see what the comparison sites say – it all depends on the energy company, but expect it to be half the normal amount.

What’s the best American Express card?

Hi Andy, recently subbed to your YouTube. Very informative by the way. 

I have a 999 Experian score and 493 Equifax. I’m considering upgrading my credit card from a capital one to an Amex. Out of the ones eligible would you recommend? I’m moving soon so need to buy furniture. Or is there another card you’d recommend ? Thanks for your help and loving the content mate !

HighSocietySky, via Instagram

The Gold Rewards is good in first year. Here’s more on how to get the most of it – as long as you’re going to spend £3k in 3 months and are happy with Nectar points. If not, check out the Platinum Cashback and Platinum Everyday Cashback cards.

Can I apply for a credit card if I’m getting a mortgage?

I wanted to build my creditscore. I have excellent experian score but poor equifax score.I dont have any credit cards and  I have had tesco card rejected 6 months ago.  Is it worth to apply for a creditbuilding card now  if i am looking at applying for a mortgage in a few months time? Capital one classic card nd post office credit card comes as pre approved on my clearscore app. Hoping to hear from you.

Rachana, via YouTube

When will you be applying for the mortgage? Though there’s no hard and fast rule, it’s recommended that you don’t take out new credit six months before a mortgage.

If you’ve got this amount or time or longer, then it could be worth a shot, though it does take time for the repayments to make a difference to your report.

I’d also check against your Equifax report for any errors that could explain the big difference between the two (though there can be other factors for this).

What could make me go overdrawn?

Can you go overdrawn if you only have a debit card?

Nathan, via YouTube

Hi Nathan, any payments out of your current account that take you below zero could make you go overdrawn. So that’s direct debits, standing orders, any transfers, along with any payments you make with your debit card.

Should you cancel a credit card before applying for a new one?

Andy, what is the best way to apply for a 0% Purchase CC when you already have others? Should you cancel one first then apply, or apply first, then cancel the old one. Thanks!

Pedro, via YouTube

Hi Pedro. I wish it was a simple yes or no! I think the best first step is to go to a card eligibility checker to see your chances of getting a new card (try MSE’s Credit Club).

If there’s one you think works for you with a good chance of acceptance (it’s rarely guaranteed) then you don’t need to worry about the other card.

If you’ve not got any options, cancelling the other card doesn’t mean you’ll suddenly get new results. It can depend on other factors in your report and with the card.

Generally it’s not a good idea to have too much credit available to you – but other things like how long you’ve had a card or your overall “credit utilisation” can give your score a boost.

What are the best savings accounts?

Samir, via Instagram

Andy!! Need your help ? basically my savings account has gone down to 0.01%… I know there are a few higher accounts with other banks… but they cap how much you can put in each month don’t they? They said £200 is max?… each month I’m putting away about £500.00 do you know off the top of your head a good savings account that doesn’t have such cap on it please

Hi Samir, not all will cap how much you can save each month. Check out this article.

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