Egg Anniversary Balance Transfer

kinster_2

Hi

I got my anniversary 0% balance transfer for my Egg Card. Am I able to transfer from my Egg MONEY Card?

Cheers

YorkshireBoy

kinster wrote:

Hi

I got my anniversary 0% balance transfer for my Egg Card. Am I able to transfer from my Egg MONEY Card?

Cheers

From the Egg Card "small print"...

9.3 You can ask us at any time:

to pay off an amount you, or your Additional Cardholder, owes to another UK lender and transfer it to the Account, as long as the amount transferred would not make you go over the Credit Limit and is £100 or more and is not used to discharge your or your Additional Cardholder's indebtedness to any part of the Egg plc group of companies

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

sicker

Kinster, Ask Egg for a credit limit increase (or stick with your current limit) and transfer as much as they will allow to your current account. Now pay what you have transferred to your current account back to Egg Money!

John

kinster_2

my Egg Card has the 0%. So do you mean transfer my balance from Egg Money Card to an external account and then transfer to Egg Card?

If I do it this way is there a balance transfer fee?

Thanks in advance

Martinslovechild

You'll need to check your T&C's to determine if there's a fee as there may be a fee depending on when you received your Egg Card. If you've had the Egg Card a while, then the chances are that there's no fee whereas if you've only recently got it, then you're probably going to be 2% lighter (although I think that this is capped at £50).

nmiah786

I've had my Egg Card for three years now and November is m anniversary month. So I emailed them to confirm that any balance transfer I do will be chared 0%. I got a reply confirming the 0% and also confirmed that since I am an existing customer I will not have to pay any transfer fee.

I'd suggest emailing Egg to get confirmation.

YorkshireBoy

Martinslovechild wrote:

You'll need to check your T&C's to determine if there's a fee as there may be a fee depending on when you received your Egg Card. If you've had the Egg Card a while, then the chances are that there's no fee whereas if you've only recently got it, then you're probably going to be 2% lighter (although I think that this is capped at £50).

nmiah786 wrote:

I've had my Egg Card for three years now and November is m anniversary month. So I emailed them to confirm that any balance transfer I do will be chared 0%. I got a reply confirming the 0% and also confirmed that since I am an existing customer I will not have to pay any transfer fee.

I'd suggest emailing Egg to get confirmation.

I'm curious as to why there is this thought that "new" Egg card holders will have to pay a BT fee during their anniversary month, because...

1. As the T&C's changed in May this year, the first anniversary month for "new" customers will be May 2006, and

2. The T&C's don't seem to indicate that there will be a fee payable...

Is there a fee for balance transfers?
For all new customers who apply after 1 May 2005 a handling fee of 2% will be applied to balance transfers made in your introductory balance transfer period (except where we tell you otherwise). The maximum handling fee is £50.

http://new.egg.com/visitor/0,2388,3_11084--View_152-bID_EcBalTraFaq-dva_1,00.html#isthereafeeforbalancetransfers?

7.2 We will charge:
a handling fee of 2% (maximum fee £50.00) on the amount of each Transferred Balance made during an introductory offer period or made under a Special Promotion;

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

My understanding of the new T&C's is that the only time a "new" Egg card holder will pay a BT fee is during the introductory period, and during any special promotion (eg the recent 0.9%/1.9% offers), where the 2% (max £50) fee for the special promotion was notified. This special promotion clause is also shared with pre-May 1st applicants.

Egg have told me (in writing) that the anniversary offer is not classed as a "special promotion".