Egg money limit

Excuse me if I am asking something obvious to all you expert stoozers out there, but as a newbie looking into this I have a question.

Does it actually matter what credit limit you get with Egg money, as surely you don't move its own balance to your stooze pot (or maybe you do and I've misunderstood something). Don't you just use it as a mule to move money from your chosen 0% card through to your stooze pot?


bb


PS: Having just re-read some other posts about Egg card limits never being granted at more than £15k, I may have partly answered my own question, but would like my understanding confirmed or corrected as appropriate.

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541
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    If using purely to mule, then the smaller the better - so as not to impact on other applications.

    However, if you're using it to spend as well (to get the 1% cashback), then a credit limit equivalent to 1.5-2 months normal spending would be necessary.

    Don't forget to clear the card's purchase balance before BT'ing to another card - otherwise you could pay interest on a small negative balance when you SBT from your stooz pot.
  • OK, I think I am starting to make some sense of this. I think I was confusing Egg money with the Egg credit card, which I now beleive are two seperate accounts - correct so far?

    So is there any possibility of having both Egg money and an Egg credit card and stoozing from the card to Egg money, or is this a just wrong? Would this set off alarm bells within Egg? Is it best to only use non Egg credit cards for this type of activity?

    bb
  • YorkshireBoy
    YorkshireBoy Posts: 31,541
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    So is there any possibility of having both Egg money and an Egg credit card and stoozing from the card to Egg money...
    None at all!

    Although you can hold both cards, you can't BT between them.
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