Getting access to credit limit

ianlawn

I have recieved a nationwide credit card with a limit of £2000,
balance transfer 0% for 10 months, £2.5% fee (credit and store card only).
purchases 0% for 3 months.
withdrawal 2.5%

Is there anyway i can get the money in my nationwide bank account as cheaply as possible, it's just a short term measure.

NickX

ianlawn wrote: »

Is there anyway i can get the money in my nationwide bank account as cheaply as possible, it's just a short term measure.

Yes, but you will need an Egg Money card to use as a mule.

Moggles_2

Yes, apply for Egg Money. (See Egg Money card trick)

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards

dhassen

Don't withdraw the cash as it'll cost you a fortune - cash withdrawl APRs are horrendous....

Do you have any other CCs? I don't think nationwide allow you to do a SBT (Super Blance Transfer - to your bank account)

You probably should've posted before you applied for the nationwide card..... that way you would've been advised to get a card that allows SBT (list here: http://www.stoozing.com/sbt.php) Depending on your credit history, you could get the Egg Money card, transfer a non existing balance from your nationwide card to it for the 2.5 fee, and then transfer the positive balance from the Egg Money to your bank. Egg Money allows positive balances, and theres no fee to transfer a positive balance from it to your current account

EDIT: lol two other replies while I typed this!

ianlawn

thanks for the responses. I have a bad credit rating i think I only got the card because I have a nationwide account. I have a barclaycard with £500 limit

dhassen

Hmm well I guess if it's for short term measure, and I assume you're earning.....Why not use the 0% for purchases to buy everything and keep your wages going into your current account?

Seems like a bit of a waste of a nice 10 month BT offer though......

If you have bad credit history then you'll be unlikley to get another card, therefore it's impossible to get the credit into your account.