Childs Trust fund

[maus]

I was just wondering if anyone knows anything about the new Government Childs Trust fund scheme. I heard that if your child was born after the 1st Sept 2002 (my little girl was) then they will recieve a sum of £250 from the government to be put into an account towards their future. Has anyone else heard this too?

yes, it does exist - but won't be paid into an account for a few years yet - think it is about 2007... no access to it is allowed until they are 18.

It was just that I have recently signed up for the iPledge credit card. Have you heard of it? It gives you cash back that goes into a deposit account with the Childrens Mutual and apparently the government money can be put in that same account. So is this £250 a one off, or will my little girl get more?

yes have heard of them but am not convinced they are the best way to save money for university fees - unless you are very organised and pay off every penny each month, the interest rates are steep and there are other credit cards that give better cash back that you can invest in equities which are better returners for long term investments.

From what I remember, if you family income is less than 13k gets another 250 per chld born after date. The money can be put in an account and upto 1200 a year added by parents /grannies without acrruing tax.

Still it is better than nothing and waking up in a few years time with a huge bill waiting for you! I am encouraging my kids to be plumbers/builders... and they can start on my house!!

See what your saying, but equally I have done quite a bit of research into credit cards. Dont want to rush in without knowing what I am doing! The APR doesnt seem to be any higher than that of any other card I have seen. Infact, I found it reasonably lower. Also I think that it would be easier to have the cashback all channeled into one account automatically rather than trying to juggle many and organise it all myself. Have you visited the website as well. Seem to be more good deals on there with some big highstreet shops.