How many SBTs can be done in an Egg Anniversary

nh

If there is no 0% period on BTs with a blue card, and once you are outside the intro period for a green card, I don't see the benefit of having a blue card, unless it is to make purchases.    I wasn't interested in the purchase side of things, simply to shift cash to savings.

But you can put the blue card into credit before SBTing into your current account, therefore you do not pay any interest. That is why it is good to have for when you have a big balance on your green egg card after the 0% anniversary offer.

If you got a new credit card with, say, a 5k credit limit, you could do a BT from the Egg blue to the new credit card, putting the blue card in credit, and then doing a transfer into your current account. You couldn't do this if your green egg card was maxed.

Smitty

The point of having the blue card is not for purchases Mary.

After your anniversary month has finished, do you plan on having a balance (near to credit limit) on your green egg card? (To take advantage of the 0% for 5 months)

mary

Yes, Smitty, that's the plan to have the Green Card maxed out for the 5 months of the Anniversary period.

The Green Card with £10K ends on Jan 1st. I plan to pay if off, then sit do nothing until the Anniversary Period. During May I will then SBT via the Green Card as many credit cards as I will then possess up to the credit limit. Before that 5 months is up, I then (from what you say) apply for the Blue card, put it into credit first, then SBT to savings account, as many times as I like during the 6 months Blue peiod.

Am I getting there?

Milarky

The Green Card with £10K ends on Jan 1st.   I plan to pay if off, then sit do nothing until the Anniversary Period.     During May I will then SBT via the Green Card as many credit cards as I will then possess up to the credit limit.    Before that 5 months is up, I then (from what you say) apply for the Blue card, put it into credit first, then SBT to savings account, as many times as I like during the 6 months Blue peiod.

Am I getting there?

I don't think so..

When the anniversary comes around then you can do a SINGLE balance transfer 'to' [i.e. take cash out of] your Egg green card. This will just be money which you will borrow from Egg for five months at 0%. This offer has no bearing on any other cards you may then also hold [presumably at 0% for various lengths of time]. The Egg blue can then be used in one of two ways at this stage...

Either to redirect the 'super balance transfer' from those cards in place of the Egg green - since it 'incommoded' carrying the balance you will have there for five months...

Alternatively [and this is about planning and timing, really] Get the Egg blue at the 6-7 months stage [so, five or six months before the Egg green's anniversary] and use it just for purchases for the next 3-4 months. These will be at 0% for the first five months of the Egg blue's life. During this time the Egg blue is simply allowing you to build up a purchases balance [plus cashback!] that you can then try to transfer elsewhere. Once the Egg blue is paid off, however, it can then stand in for the Egg green card just at the time when the anniversary has begun.

Also to note: Egg green card 'additional cardholder' offers - look out for these and [possibly] additional card offers for the Egg blue at some stage too!

[I think the aspect which you may be missing in all this - apologies if I have offended - is that Egg cards - green or blue - can be used for SBTs at any time but the only difference between doing so in the first 6 months [and anniversary months] of the green card - or at all times with the blue card is that there is no interest free period when doing so. Thus, these 'ordinary' SBTs must be done so as to minimise - or eliminate altogether - any period of time when the Egg card has a negative - or unpaid - balance. The easiest way to ensure this is simply 'load' the Egg card with another card's balance transfer's cash before 'niling' the balance again. This might cause problems with the other credit cards T&Cs but has not concerned Egg to date.]

Once again, good luck with it.

Smitty

I think you are getting there Mary, but as Milarky points out, you aren't quite there yet.

All the info is in Milarky's post (and a nice bit extra about fully utilising the blue card for purchases)

In brief... get ya blue card up and running so it can be used as a mule during the green card 5 month period, after the anniversary month. As your green card will not be able to be used as mule during this period.

mary

Thanks Milarky and Smitty for your very detailed replies. Apologies for being so dim! I think, finally, I see the light.

Egg Green card started in May - expires Jan 1st. I pay it off a bit before that, then do nothing until the anniversary month in May. At that point max out the Green card into my current/savings account and leave it for 5 months

Meantime, I apply for the Egg Blue card this month (Dec)
which will probably be through for say Jan - June (6 months). I can either do my shopping on the card until say April, having put the equivalent cash in the savings account, then pay it off, and during May, when the Green card is occupied then create positive balances on the Blue card and then zero rate the card again to £0 and out to current/savings account. That way as I see it you will have the benefit of 0% on the Blue card for SBTs for only a couple of months (May and June.

So as I am not bothered about the purchases side of the Blue card, perhaps I would be better just getting the Blue Card and creating the positive balances from other credit cards for the longest period of time

I can almost hear you groaning again, thinking oh no, will the penny ever drop!!

Smitty

I think you're there

You dont need to worry about intro periods when using the blue egg card as a mule.

You can either credit it first, then SBT

or (if you dont like this option)

Try and coordinate your BT from another CC to the Blue card and the SBT from Blue to your c/a, so that the balance on the blue card is only there for a few days.