egg money card refused any other mule cards out there

robozric

hi ppl

i applied to egg money today and got refused,i thought my credit rating was pretty good no outstanding debts apart from im into my overdraft. basically i need a mule card like egg money to do a transfer of cash from my credit card to the mule and then into my account. does anyone know of any other cards which can do this if egg money has refused me.

NickX

There are not any really alternatives to Egg Money because most Credit Cards do not like significant positive balances. However, there have been reports of people being successful in using MBNA as an occasional mule.

Which card is it you want to get the money from ?

YorkshireBoy

I don't think there are any that will do it fee-free...certainly not without risking creating (large?) positive balances.

Your first port of call should be to appeal the decision though, whilst the application is still 'fresh'.

Give Egg a call and ask to speak with an underwriter. Or, if you have any other Egg products, send them a secure message and ask for an underwriter to contact you to discuss the rejection. Alternatively, write to them.

dhassen

There are loads you could use as a mule, but none would be as cheap as Egg Money because you can't create such a positive balance on other cards and most other cards have fees for doing BTs. I guess you should have a look at the cards on the stoozing website : http://www.stoozing.com/0fees.php

You need one with SBT facility, they're highlighted on the page.

I'd wonder why you were refused though before applying for anything else. Check your credit files

NickX

dhassen wrote: »

There are loads you could use as a mule, but none would be as cheap as Egg Money because you can't create such a positive balance on other cards

I'm not quite sure what you mean here. To effectively mule you need to create the positive balance so Egg Money is the only card that can definitely offer this ?

dhassen

NickX wrote: »

I'm not quite sure what you mean here. To effectively mule you need to create the positive balance so Egg Money is the only card that can definitely offer this ?

Yea I've thought about that and you're right...... I'm thinking about the OP getting cash into his current account...... now yea you can do that with any SBT card... but I got lost somewhere in my head thinking about getting balance from another non SBT card to your bank account without creating a positive balance.

OP's best bet is to ignore me... lol

NickX

dhassen wrote: »

Yea I've thought about that and you're right...... I'm thinking about the OP getting cash into his current account...... now yea you can do that with any SBT card

Thats why I asked the OP which card it was that he needs the money from, just in case it was an SBT card in its own right.

I,_Brian

robozric wrote: »

i applied to egg money today and got refused,i thought my credit rating was pretty good no outstanding debts apart from im into my overdraft.

That's probably why - there was a storm not long ago when Egg dropped a load of good credit customers. Customers who trigger penalty fees and APR rates are much more profitable.

robozric

thx for ur responses the problem i have i need a lump sum of cash kinda in the next couple of weeks to pay for a holiday,spending money etc. im going to be coming into a lump sum of cash of about 20k in april but need about 2-3k to clear my overdraft and pay my holiday and to get me through till april when my shares mature. i was hoping to not have to take out a loan and maybe do the egg money transfering way of doing it so i can then kill the balance outright in april. would i pay more in interest if i just drew out the cash from the cc then paid it in full in april or with a loan or is it possible to do a type of balance transfer to another cc.
also yes i did contact a member of egg when i was refused and they said it was because of my credit score and then he just said i cant apply again for another 3 months

YorkshireBoy

robozric wrote: »

would i pay more in interest if i just drew out the cash from the cc then paid it in full in april

£3,000, done over a period of time, and if your card provider lets you (some have cash balance limits), could cost you as much as £500 in interest over the period.

Better to look for other options.