no debt->create debt+swtich balance?

kirbyken

i need money short term (can repay total 2 months from now)
will this work?
get egg card with say £1000 credit limit, take out £1000, pay 1 month min payment
meanwhile apply for another (no transfer balance fee) card, transfer the debt, pay back interest free over the period (6, 9 months).
clear the £1000 2 months from now


is this too simple, have i missed something, any ideas?

cheers

YorkshireBoy

The Egg Card has a 6 month 0% introductory period, so you don't need a second BT card initially.

You will only need another BT card if you haven't paid the balance off at the end of the Egg introductory period.

See the "What is a super balance transfer?" article here...

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1085355871,12390,

...and post back with any questions.


Edited to add: You'll pay a 2% BT fee with the Egg Card but, at £20, it's still better than getting your £1,000 via a cash advance (if that's what you were thinking of doing :eek:).