Convenience cheques

Beach_2

I recently transferred a balance on one credit card to MINT and had the intention of using their convenience cheques when they arrived for other debts. MINT advertise convenience cheques on their web site as being available.

To cut a long story short they have told me that although it says that convenience cheques are available on their web site they are currently not offering them and do not have to do so as it isn't in their terms and conditions. Had i know this at the time i would have looked for someone offering them.

Are they allowed to advertise them as being available and not offer them and are convenience cheques offered by any others ?

clio

Ring up and request them i did and got them no bother m8..

Beach_2

I have phoned and written to them and have a letter back telling me they do not offer them anymore even though they are still going to be shown on their web site as being available.

clio

keep trying i rang 3 times got 2 different answers 1, don't do them anymore, 2, we do i,ll send some out [never got them] got them 3rd time, or just sit and wait for them to send them out as they do just when they want to.
btw this was 3 week ago for me so is still recent..

YorkshireBoy

Beach, which other cards do you hold?

Beach_2

I have phoned about 4 times and was told they were sending them twice but they never arrived and eventually someone told me they had stopped doing them. I wrote and complained and have a letter from them (13th June) telling me they have stopped offering them at the moment although there are no plans to remove references to convenience cheques from their web site.

I also have an egg card.

YorkshireBoy

Beach wrote: »

I also have an egg card.

Egg Card or Egg Money?

If Egg Card, is there a promotion on it at the moment. Also, do you have a balance on there?

If no, and no, then that's your 'get out of jail free' card.

Beach_2

I've got an egg card and its got about £10 on it. I wanted to use the cheques to pay off an overdraft so i could transfer it to a 0% card for a period thus saving the interest payments and use that to help pay off the debt. Seems to make sense to me but i can't find a way to pay of the overdraft other than convenience cheques - penalties are too great on cash advances through the card to make it worthwhile (although iaahven't done the sums to be sure of that but that might be my next step if cheques are not available anywhere)

YorkshireBoy

So long as there's no special promotion* applicable to your Egg Card at the moment you can 'super balance transfer' your overdraft to the Egg Card fee-free, and then balance transfer this debt to your Mint card.

Alternatively, reverse the transactions and create a positive balance on the Egg Card and ring them to ask for a BACS transfer to your current account.

Job done!


* Introductory offer, anniversary offer, or other special promotion. Best to give them a ring or secure message them. The Egg Card ONLY charges a BT fee in these circumstances...at all other times BT's are fee-free, including those from overdrafts.

Beach_2

Sounds excellent advice - but i need a couple of things explaining !!!

1) What is a super balance transfer and how do i go about it ?

2) Can you explain what you mean by reversing the transactions ?

Sorry for being a bit of a financial duffer

YorkshireBoy

Most cards only allow balances to be transferred from other credit cards. A super balance transfer is a balance transfer from a current account overdraft...whether real debt or ficticious debt, the latter being what is exploited by credit card stoozers.

Section 9.3 of your Egg Card T&C's* and the FAQ section** will explain how to go about transferring your overdraft to the Egg Card.

* http://new.egg.com/visitor/0,,3_11087--View_1068,00.html

** http://new.egg.com/visitor/0,2388,3_11084--View_1765-bID_ECBalTraFAQ-dva_1,00.html


"Reversing the transactions" means BT'ing a ficticious debt from the Egg Card to Mint first, to create a positive balance on the Egg Card. You could then ask Egg to BACS transfer this positive balance to your current account.

The benefit is that you won't incur any interest on Egg whilst you're waiting for the Mint money to come in.

On balance though, and so as not to set any alarm bells ringing at Egg, maybe you shouldn't go this way.