Egg Balance Transfer

Gambler

Have just logged into egg manager and it informs me that it is my anniversary so get 0% balance transfers for 5 months.

I have been a customer for many years so does that mean I can move my limit into my bank account with no BT fee?

Thanks

angelica

AFAIK yes, I used Egg as a 'mule' last month and did not pay any fee for that. I am their customer since 2003.

grumbler

Gambler wrote:

...does that mean I can move my limit into my bank account with no BT fee?...

Yes, but be carefull - you must have clear (zero) balance before doing this: Egg Loophole - Guaranteed 0% year after year

Gambler

I have zero balance and have just transferred 95% of me credit limit.

I then tried to change my payment option from full to min. payment but it wouldn't let me do it for this month as my statement is due in the next 5 days.

Does this mean I have just transferred £14,250 and that it is going to get repaid in full the middle of feb via direct debit?

Thanks

raa_thistle

What is the balance on the statement that the payment will be taken against? if it includes the BT the yes, if however the statement shows a zero balance (which it does by the sound of you post) then no, it will take nothing, just remember to change it for next month.

asharon

If it is within 5 days then the amount will already have been calculated. Wait until just after then reduce it to min payment.

digitalhen

Be warned!! I had a zero balance showing for 2 days on my green Egg card before I did my anniversary transfer...

This month they charged me the full interest on the balance that was there before I paid it off. They claim that even though it showed zero it wasn't actually zero and I should have allowed 4 working days before doing the BT... which I did. :mad:

I spent an hour on the phone call getting them to refund the interest - they still deny that it was their fault. I've since decided to leave egg as they don't seem to be able to administer a p*ss up in a brewery.

Gambler

my balance has been zero for months now. I just get the feeling the BT will show on my account before the end of this month and then they will collect the full amount by direct debit, in which case a total waste of time !

budgetflyer

phone them 08451233233

Gambler

I don't really want to phone them as don't want to get into why I need the BT etc.

My egg card is now showing the £14,250.
My statement date is 2nd Feb and I can't change the current 'paymnet in full' option.

Therefore they will take full payment on 16th feb.

Theie websiter says:

"If your payment is due within the next five working days, any changes made now will not be reflected in your next payment but will be amended for the one after that"

Mine isn't due till the 16th !!?!?

Jazzking

You could always cancel the direct debit with your bank, advise egg that you are doing this, and make a manual payment onto your egg card the equivalent of the minimum payment.

Egg shouldn't mind since you'll still be making the minimum payments, and ISTR that you can cancel a DD by giving 14 days notice (the same that a company should give you before it collects said amount)

Not what I'd usually recommend, but if it saves the £14,250 being taken back from your account to pay off the card then it might be an option?