Question Time: Cancel old credit cards? Martin: What 3 laws would you introduce? Pay v pensions?
6/1/202633 min
In this episode of The Martin Lewis Question Time Podcast, Martin takes on your consumer rights questions including to cancel or not to cancel old credit cards, higher paycheck or higher pension contributions, and if Martin were King for a day, what three laws would he introduce?
There's a question about the rules when it comes to paying tax on benefit payments, Martin explains the rules and regulations.
With so many competing credit card providers, Martin takes a question on how's best to balance closing old cards with maintaining your credit score, and how to hope between different cards unscathed.
There's a question asked about a showdown between an impressively high pension contribution versus a potentially massive increase in pay. Martin explains the pros and cons of each.
There’s also a feel‑good moment, with a success story from a listener who successfully used Gift Aid on their charitable donations, and Martin delivers a little refresher on Gift Aid for those who want to use it to the fullest.
Plus, Martin considers an alternate universe where he is in charge of Britain, and thinks of three laws he would enact for the good of the consumer.
If you want to ask Martin a question, you now can! His Question Time podcast lets you ask Martin absolutely anything and everything (within reason!) – so if you’ve always wanted to know his favourite ice cream flavour, if he’s ever pondered the meaning of life, or have a very complicated question about your personal finances, email it to MartinLewisPodcast@bbc.co.uk.
Clips
Transcript preview
First 90 secondsMartin Lewis· Host0:00
[upbeat music] I wouldn't worry about the tax at the moment. I'd worry about the interest. You're not earning enough. Listeners, this isn't good enough. There's a badge going. There's freebies. This is a podcast about saving money. I literally could-- apart from it's about cashback, I couldn't tell you anything you've said at this point. [laughing] The whole point of having a credit score is to enable you to get the right form of credit. Hello, and welcome to the cunningly named The Martin Lewis Podcast. I do wonder what that's gonna be about. And this is our question time episode where you, our extra savvy questioners, ESQs, get to ask me your questions on absolutely anything and everything, open brackets, within reason, close brackets. And this week you asked me, we're on benefits, so do we have to pay tax on savings interest? Should I close my old credit card to boost my credit score? Should we go for higher pay, lower pension or lower pay, higher pension? Then we have a success on how giving to charity pays. And to finish, you asked me what three consumer laws would I pass if I got the chance. I answered off the top of my head. Let me know what you think and let me know what you'd do too. Play the theme tune.
LunchMoney Lewis· Soundbite1:09
[upbeat music] I've got bills I gotta pay. So I'm gon' work, work, work every day. I got mouths I gotta feed. I got mouths I gotta feed. So I'm gon' make sure everybody eats.
Martin Lewis· Host1:27
Hello, and welcome to this week's episode