Paying off my egg card

shanni

Hi to all,

I will need to switch my credit card soon, I have an egg card which I had to use for purchases to live off as I was in a mess. The thing is, the purchases 0% runs out by end of Feb (BT 0% ends April) so I need to switch by end of Feb. My question is should I start applying now as I see Martin's tip is that it can take 6 weeks to switch? And because I pay the minimum each month how do I pay it off? Do I just ask the new provider to pay straight to egg and then cancel my minimum payment?

Thanks to anyone who can advise. I have done this once before but used to pay by cheque each month and not via dir debit.

Reaper

I need to switch by end of Feb. My question is should I start applying now as I see Martin's tip is that it can take 6 weeks to switch?

No. He meant 6 weeks from start to finish. Choosing a card, applying for a card, getting it and doing the balance transfer. And that's being safe. So no, don't start 2.5 months before!!

Do I just ask the new provider to pay straight to egg and then cancel my minimum payment?

Yes. Though no need to rush canceling the minimum payment. If there is no money left on the card they won't collect anything. I'd leave it until you get a statement confirming it has all gone.

shanni

Thanks reaper, you have put my worrying mind at rest

Robert_Sterling_3

Now that you won't be too hasty make sure that you are also not too tardy.

shanni

Well, having maxed out my egg card, I think I am going to transfer it to Capital One (9 months) and definitely not use it for purchases. I hadn't intended on continuing to use the egg card for purchases so I may as well transfer it now.

Thinking about it, I have only had the egg card for 2 months, will this be ok?

I'm hoping capital one will say yes as they send me invites every week! I have to do it within the next 7 days before I move

sicker

Shanni, don't close your egg card, just clear it and don't use it. 0% re-activates on your egg cards anniversary so in about 6 months time you can start again at 0% for balance transfers.

John