I want to be a tart, help.

happyhero

Hi Reaper

Don't worry no more questions........................


...............for now. Just want to say thankyou for the help and to let you know I have ordered my Egg through the internet [glow=red,2,300];D[/glow]

I think I will get my wife to apply in about a week for an Egg too.

Hope you stick around because I will probably be back soon to bombard you with a load more questions.

Cheers

Rafter

Hi Rafter, thanks for the info, do I understand you right?
You are saying that the place everyone goes for references will not have much to say about my credit worthyness if I have everything with HSBC, because they keep it to themselves? Why do they do this? Also because I have some savings elsewhere but not colossal and a Goldfish credit card for regular use will this help or not count when I am being checked out?

I think they only share adverse credit information. So if you have a First Direct account and credit card like me, nobody can see that you have a good limit or manage your account well.

Goldfish (Lloyds TSB) card should show up though.

Savings don't appear - credit reference info tends to be for borrowing only.

See what limit you get with Egg.

Good luck.

R.

monki_man

Say your Egg card had £0 on it. You now take out a FD card and get a £10,000 credit limit.

Ask FD to Balance Transfer £10,000 from Egg, even though you don't really have a debt on it (but they don't know that). To do a balance transfer what they actually do is pay Egg £10,000.

Now you have a £10,000 positive balance on your Egg card.

First of all, this sounds like a very good plan but can somebody tell me what FD card is. Also whys is it important to have a positive balance on the egg account?

mary

FD is First Direct. If you want to open an account with them, I have an introductory postcard, whereby if you open an account and get it going, I get £25 and you get £25 too. So, let me know if you are interested and send me your details in a private message.

If you have a positive balance on Egg Card, you can balance transfer it to your current bank account on line.
That brings your Egg Card back to £0.

monki_man

If you have a positive balance on Egg Card, you can balance transfer it to your current bank account on line.
That brings your Egg Card back to £0.

So basically if im correct, bung lots of money into the Egg card i.e. do a BT from Egg to FD. Then with all the 10k, saying i do get that much, i could put that towards my HSBC account wihtout getting charged extra? And with £3k of that 10k i could put it towards an ISA? Will HBSC/Egg charge me for moving that much of money around? like one off payment?

Reaper

So basically if im correct, bung lots of money into the Egg card i.e. do a BT from Egg to FD. Then with all the 10k, saying i do get that much, i could put that towards my HSBC account wihtout getting charged extra? And with £3k of that 10k i could put it towards an ISA?

Correct. There are very few SBT cards that allow you to move money to your bank account. This is a sneaky trick that allows you to turn any 0% BT card into an SBT one by moving the money via Egg.

Will HBSC/Egg charge me for moving that much of money around? like one off payment?

No. MBNA would but Egg don't. That's why us stoozers love Egg.

mary

And with £3k of that 10k i could put it towards an ISA?

Yes, you can, but don't forget your borrowed money will have to be repaid at some point, so you would need to cover the ISA tax year with probably 2 credit cards of say 6 months each.