MSE’s Money Tips Beer check, Winter Fuel help, 5% savings, 20 mobile theft & cost savers, cut debt costs even with po

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From: MSE's Money Tips - Tuesday Jun 10, 2025 07:41 pm
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Plus... On energy fix - stick/twist?, coupon FREEbies, new top loans, car finance update, Ikea 60% off
                                                           
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 10 June 2025 | View in browser
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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.
 
 
 

Got debt but get rejected when you apply to cut its cost? 

New. Longest poor-credit 0% balance transfers
If you can't afford to clear your credit card debt...
... you can't afford not to check whether you can shift it to 0% right now 

Banks are organisations that will lend you an umbrella but ask for it back when it rains. And, sadly, if you've a poorer credit history or a lower income, you'll likely recognise that feeling when it comes to applying to cut the cost of existing debt, as rejection is the default. However, right now, likely on the back of the cuts in UK interest rates, we're seeing a range of new 'poor credit' balance transfer deals launch, which may offer some hope, and are worth trying.

A 0% balance transfer is when you get a new card that pays off existing card debts for you, so you owe the new card but it's interest-free for a set period. This means more of your money clears the actual debt rather than just paying the interest.

Always do an eligibility check for the top cards first... Use the MSE 0% Balance Transfer Eligibility Calculator first. It shows your chances of getting cards, and you may just be eligible for the longest ones, which are up to 33mths 0%. Yet it also includes all the poor-credit-scorer cards in the table below, so they'll appear too, if you might be accepted. If you've decent chances of a few cards, go for the one with the lowest one-off fee (a percentage of the amount of debt you shift), with a 0% period long enough to clear your debt (though if you're unsure, play safe and go longer).

Better still, if you're usually rejected when you apply, use the free MSE Credit Club to find out why. The eligibility calculator is included within MSE's free Credit Club (available via the MSE App on Apple | Android). It gives you access to your credit file, a credit and affordability score, and analyses what's happening. PS: We'd love to be able to describe which of these cards is easiest to get in detail. Sadly, they won't give us that detail - that's why we include them all and link via the eligibility calc, which will simply tell you your best chances.

New. Capital One
- Min income? It doesn't publish this.
- Who may get it? Capital One generally accepts those with a history of past defaults, County Court Judgments (CCJs) and bankruptcies. DEFINITE 22mths 0% for a one-off 2.9% fee
(26.9% rep APR after the 0% ends)
Crucially, all accepted will get the full 22mths at 0%.  New. Vanquis
- Min income? It doesn't publish this.
- Who may get it? You may still be accepted if you've had past CCJs or defaults, but can't currently be bankrupt or have a currently active Individual Voluntary Arrangement (IVA). 'Up to' 18mths 0% for a one-off 2.9% fee 
(32.9% rep APR after the 0% ends)
Some get 18mths 0% and some just 6mths, but at least it will tell you which you get before you hit apply and mark your credit file. DEFINITE 16mths 0% for a one-off 3% fee 
(29.9% rep APR after the 0% ends)
Quite simply, all accepted get the full 16mths at 0%. Fluid
- Min income? £5,000/yr.
- Who may get it? You may still be accepted if you were declared bankrupt over 18mths ago – CCJs or IVAs must be over 3yrs old. You also need 12mths' UK address history & a UK bank account.
Top-pick poorer-credit 0% balance transfer cards
All links go via our eligibility calc so you can check acceptance odds first
Virgin Money
- Min income? £15,000/yr.
- Who may get it? Your CCJs or defaults must be over 18mths old and you need a recent history of managing credit well and to have a UK bank account.
DEFINITE 12mths 0% for a one-off 3% fee 
(29.9% rep APR after the 0% ends)
While this has a worse 0% offering than the others, less income is required to get it, and if it's the only option you've a chance of getting, 12mths is still decent for some respite.

One big beware with poor-credit cards... The interest rate after the 0% ends is usually higher than with normal balance transfers - it can easily be 35%. So before you shift the debt, compare it with your current interest rate. If your current card APR is lower, ONLY shift debt you're certain you can clear within the 0% period, so you're not stuck at the higher rate after. If your current card's the same or higher, you may as well shift as much as possible.

Q. What should I do if I've only got a low eligibility chance of getting a card, eg, 20%? If your best chance of getting a card via the eligibility calc is say 20%, then be a 'glass half full' type. Twenty per cent is better than nothing and it means two in 10 people in your circumstances WILL be accepted. Cutting debt costs is one of the most important possible uses of your credit score (usually only trumped by a mortgage application), so go for it. The worst that can happen is you get rejected, and barring a minor credit file application mark, you're no worse off.

Q. What if the credit limit isn't big enough? The only way to find out is usually to apply, and as the application is now on your credit file anyway, make use of whatever you get. Use the new card to shift the maximum debt to it - at least it is at 0%. Then, once done, try our Balance Transfer Eligibility Calculator again to see your chances of acceptance for other providers' cards. Though try to spread future applications out, as too many in a short space of time can hurt.

ALWAYS follow the Balance Transfer Golden Rules:
a) Never miss the min monthly repayment (pay it by Direct Debit), or you could lose the 0% deal & it'll cost far more.
b) Aim to clear the card (or balance-transfer again) before the 0% ends, or the rate rockets to the higher APR.
c) Don't spend or withdraw cash. It usually isn't at the cheap rate & withdrawals may hit your ability to access credit.
d) If you don't do the transfer at application, you've often only 60 to 90 days to get the 0%. Check your card's terms.

Quick balance transfer FAQs (click links for Martin's answers)
Q. Can I shift debt to existing cards too? | Q. Should I try to pay off my biggest debt first? SPOILER: NO.
See full help and info in Best balance transfers.

 
News. Winter Fuel Payment (WFP) reinstated - watch Martin's explanation & analysis. All those eligible for the State Pension (Eng & Wal) will get WFP this winter, but it'll be clawed back through the tax system for those who earn £35,000+. Watch Martin's WFP: How it works, what it means, is it any good? video analysis, which was done straight after the announcement. Plus your key Qs answered: What counts as income? Is the opt-out individual or household? Plus more.

Are you getting enough beer for your brass? Know your pint rights. With the average price of a draught pint hitting £5.17, our self-ap-pint-ted BeerDrinkingExpert MSE Kelvin asks: Are you entitled to a top-up? (Pls be Drinkaware.)

New. M&S cuts loan rates to 5.9%. We're finally seeing personal loan rates shave down after the last base rate cut. M&S Bank (links via our eligibility calc) has cut its personal loan rates, making it the joint cheapest, with TSB, at 5.9% rep APR on £7,500 to £20,000 loans. Cheapest loans' rep APRs: Up to £3,000: 9.9% | £3,000 to £5,000: 9.7% | £5,000 to £7,499: 7.1% | All links are via our eligibility calc, so you can find the cheapest lender that'll accept you. If in doubt, don't. New borrowing should only be for NEEDED (fixing broken kitchen, not a holiday-type needed), planned, budgeted-for affordable expenditure. It should be minimised and repaid as quickly as possible.

Coupon-tastic FREEbies... (£3.50) cat food, (£1.60) dog food, (£2) yogurt & more. See 40+ June coupons.

New. Top 5% easy-access savings. NEWBIES to app-only bank Chase* get 5% (2.75% variable + 2.25% fixed 12mth bonus), min 1p, max £3m. To get it, just open its free current account. You don't need to switch bank to it, and it only does a soft credit-check, so almost everyone can get it and your credit file isn't marked. Its debit card also gives 1% cashback on UK supermarket and travel spends & it is a top card for overseas use. More savings options in Top cash ISAs and Top savings.

Martin: 'I wasn't expecting that... a funny thing just happened to me in a cab!' See what happened in our new Martin & the cabby video, which is placed in our nine financial benefits of marriage guide (which is a bit of a clue).

Now only FOUR banks pay you to switch... get up to £310. Last week there were five, now one's gone. Top all-rounder: First Direct FREE £175* + top service + 0% overdraft + 7% linked savings. Top overall reward: TSB FREE £100 + FREE £15/mth for 6mths* plus FREE £120 hotel voucher in Dec (so total reward £310). Nationwide customers only: FREE £200 existing customer switch. Top for bills: Santander Edge FREE £180, but £3/mth fee, though it pays 1% cashback on bills paid via Direct Debit (max £10/mth). For full info, offers and eligibility criteria, see Top bank accounts.

Update. Car finance mis-selling - regulator says 'don't use a claims firm'. The regulator prepares for compensation scheme - and warns against using claims firms. See Car finance mis-selling - the latest.

Are you in the wrong Council Tax band? 100,000s are due £1,000s back. New Martin pod. It's a Council Tax Special this week, talking through how to check & challenge your band, whether you're missing out on a discount or reduction, and whether you're in one of 800,000 homes owed back credit. Plus Inheritance Tax, cash ISA rules and more. All in the new The Martin Lewis Podcast. Listen via BBC Sounds | Apple | Spotify or wherever you get your Martin fix.

Ikea 'up to 60% off' sale, eg, £15 duvet set £5. Plus members of its free Ikea Family loyalty scheme who shop by Sunday will also get a £10 off voucher on a future spend. See full Ikea sale analysis.
 
 
 
 

Martin answers... a big energy question
'I'm on an energy FIX, but prices are due to come down? Should I fix again now... or stick, or what?' 

Martin Lewis, MoneySavingExpert.com founder, who wrote this article. Link takes you to his biography page on MoneySavingExpert.com.This query has regularly popped up in my virtual mailbag ever since it was announced that on 1 July, the Energy Price Cap for Eng, Scot & Wales will be cut by 7%. It's not surprising really, as now one in three homes are on fixes. Many wonder if there's any way to take advantage of price falls. Some even ask if they made a bad decision fixing. So I want to answer them all step by step, after a quick message for everyone else...

Not fixed, just on a Price Capped standard deal? If you're on your firm's bog-standard tariff, you're on what I call the Pants Cap. It was meant to be a backstop tariff only for those who never switch, yet the energy crisis has left many others still on it. Right now, the cheapest fixes are a huge 18% LESS than the current CAP (12% cheaper than the new July to Sept Cap). Plus analysts currently predict the Cap will rise each quarter until Apr 2026. If so (though nowt's certain, there's some crystal ball-gazing here), a cheap fix not only gives peace of mind, but is likely to save you substantially. Use our cheap fix comparison to find the cheapest in your location.

1. Check your fix's rate - are you still saving against the Price Cap? (Spoiler: you usually are.) If you locked in a while ago, it's worth a scan to compare how your fix stacks up with the current Cap (see table) or, better still, against the whole of market, by using our Cheap Energy Club comparison.

UK average Direct Debit Cap Electricity Gas Unit rate 1 Jul: 25.73p/kWh. 
Current: 27.03p/kWh 1 Jul: 6.33p/kWh. 
Current: 6.99p/kWh Daily standing charge 1 Jul: 51.37p/day. 
Current: 53.8p/day 1 Jul: 29.82p/day. 
Current: 32.67p/day
The Cap varies by region and payment method. For a full list, see region-by-region Price Cap info.

If you went for the cheapest fix (as I always push you towards), then as the infographic below shows... at every point over the last year, on average you'd have been better off getting the cheapest 12mth fix than staying on the Price Cap.

A graph titled "Over the last year, the cheapest fix would always have beaten the Price Cap". It shows previous, current and predicted energy prices under the Energy Price Cap between April 2024 and December 2025. The April to June 2024 Price Cap was £1,690 a year, which fell by 7% to £1,568 a year for the July to September 2024 Cap. It then rose by 10% to £1,717 a year for the October to December 2024 Cap, by 1% for the January to March 2025 Price Cap and by 6% for the April to June 2025 Price Cap, to £1,849 a year. On 1 July, it's set to fall 7% to £1,720 a year. According to predictions from energy analysts Cornwall Insight, as well as EDF, E.on and British Gas, the Price Cap could rise between 0.2 and 0.5 percentage points at the October to December 2025 Price Cap. The graph also shows the cheapest 12-month fixed deals over this same period - these ranged in price from £1,517 a year to £1,670 a year, consistently below the Cap. The link takes you to our 'Should you fix your energy?' guide.
2. Are there cheaper fixes available than the fix you're currently on? Fixed prices have dropped recently. Currently, the top tariffs include Outfox the Market at an average 18% cheaper than the current Cap and E.on Next at an average 14.6% cheaper. Both are for new & existing Direct Debit customers, neither require you to have a smart meter, and E.on includes MSE cashback. So it's worth doing a cheap fix comparison. If the results show the fixes available are materially cheaper than your current one (that'll depend on when you fixed), whether it's worth ditching and switching depends on...

Does your current fix end within the next 50 days...? Under Ofgem rules, suppliers can't charge early exit penalties if you are within 49 days of the end of the deal, so if you're in that period, you're free to ditch & switch if you can find a cheaper fix. If not, and the fix you're already on is the cheapest, even though you're free to leave, the safest thing to do is to stick with it for as long as possible and bag the savings.

If your current fixed deal doesn't end in the next 50 days, does it have early exit penalties? If you leave a fix 50 or more days before it ends, there are usually exit fees, typically £25 to £50/fuel for a 1yr fix. For higher users, this is pretty trivial and can easily be overcome by a much cheaper deal. For lower users, it's a proportionately bigger hit and can kibosh savings. Either way, factor it into any savings you'd make from fixing in the time before your current deal ends.

Does your current provider let you switch to one of its own fixes penalty-free? Many big firms will often waive early exit penalties on fixes if you renew with it. Two biggies that do this and have cheaper fixes are British Gas's 12% cheaper fix and Octopus's 11% cheaper fix. While these aren't close to the cheapest deals, if analysts' current predictions are right (no guarantees, the further out you go, the less certain it is), they will still easily undercut the Price Cap over the next year. See our full table of which firms let you renew penalty-free. If yours does and its fixes are cheaper than the one you're on, it's worth considering.

Helen emailed last week: "Thanks to your site, I've saved over £400 a year. We had signed up to a two-year fix with a £400 exit fee that was proving expensive. So we checked out Cheap Energy Club's deals to see if it was worth switching, taking the £400 fee into account. The new deal [with the same firm] had no exit fees, and when I contacted my supplier, it confirmed that as we were sticking, we didn't need to pay the £400. We're now saving over £400 a year and are free to switch again should we need to." 3. "Is it worth waiting until July? Will the price of new fixes drop then?" Another common question. Of course, if you're on a fix, your rate is... well... fixed, until it ends. Yet, more importantly, the Price Cap movement is mostly irrelevant for the rate at which new fixes are set. That's because the Price Cap is backward looking, eg, the July Cap is set based on wholesale rates (those energy firms pay) from mid-Feb to mid-May. Yet the rate fixes are offered at roughly depend on current wholesale rates. Sadly, there's no way to know what they'll be in July - they could be higher, lower or the same as now. So if you can save by acting now, there's no point waiting.

PS: In Northern Ireland? There's no Price Cap and there's less choice when it comes to suppliers and tariffs. See our Cheap Northern Ireland electricity guide for more info.

 
Warning. Got an old Economy 7 or multi-rate electricity meter? Your hot water & elec may stop working next month if you don't upgrade NOW. The 'Radio Teleswitch Service' (RTS), which allows some older (non-smart) multi-rate electricity meters to function properly, will be switched off at end of this month. If you've got one (see ⁠check if you've a Radio Teleswitch meter), it could mean your heating and hot water won't function properly, or you'll get incorrect bills. To stop this, you'll need a new meter. See Replace your old 'RTS' meter NOW for full info.

'I got a £152 energy credit refund after watching Martin.' Our success of the week comes from Miss Shaila: "I saw Martin Lewis on This Morning explaining that if you pay by Direct Debit to your energy provider and are in credit, they should refund the credit owed. So I rang British Gas and mentioned what Martin had said. Initially they said that once they get my quarterly gas bill, they will deduct the amount and refund the rest. But I insisted on the full refund due, which was £152. They put me on hold, and eventually came back and told me they would refund me the whole amount. Big thank you to Mr Lewis." If we've helped you save (on this or owt else), send us your successes.

Free West End theatre ticket for kids with a paying adult, for The Lion King, Matilda, Starlight Express & more. The annual 'Kids Week' promo on 50+ shows has launched, for Jul to Aug performances. Full info in Kids' theatre tix.

Last-min Father's Day deals, including 50% off Card Factory and free gift cheques. It's this Sunday (15 June). See our Father's Day round-up.
 
 
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AT A GLANCE BEST BUYS
 
 
 
 

MONEY MORAL DILEMMA

My partner eats more than me, so should he pay more of our food shopping costs? My husband and I both work full-time and contribute equally to our household expenses, including food shopping. But he eats far more than me - both in terms of portion size when we cook together, and by having breakfast at home when I don't, as well as by eating sides with meals and snacks in between. Should I ask him to contribute more to the household budget? Given how food prices have increased, it's become a growing part of our expenses. Enter the Money Moral Maze: Should my partner pay more towards our food shopping? | Suggest a Money Moral Dilemma (MMD) | View past MMDs
 
 
 
 

MARTIN'S APPEARANCES (TUE 10 JUN ONWARDS)

Thu 12 Jun - Ask Martin Lewis, BBC Radio 5 Live, noon
Tue 17 Jun - This Morning, phone-in, morning view and special item, ITV1, 10.00am
 
 
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What you need to know

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Who is Martin Lewis?
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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