Free Cash From Credit Cards Discussion Area

Chadsman

yumi wrote:

I am a housewife, will any credit card companies issue a card to me? I have always use a supplementary card. My husband is now working in overseas, so, I can't get him to apply for any credit card now.

How do you get the balance transfer to your current account? On the application form from Alliance & Leicester, it is only stated balance transfer to another credit card or store cards.

Pls advise, thank you. :j

On the first point yes... just find a card that asks for your household income rather than your salary (which is most cards).

On the second point the easiest card to transfer an overdraft to is Egg. I think Virgin will also do it. I'm not sure about A&L.

yumi_2

Thank you!

Fortunecooky

MSE_Martin wrote:

Slightly peeved that 5 live breakfast got someone else to do this. DO you know who they used - this is my baby!

As for credit scoring - there is no answer. I've put some wee notes in the article - but truth is - there's no rule about hit numbers. If you read my article on credit scoring in the Guides section and read the regular Q&As about this - you will find more info

Martin

There's a guy featured in Observer Money ( couple of years ago ) who apparently has been doing it for years- called himself Chris. Was that you, Martin ? Also missed TV programme on tesco, can you do an article about that at some point ? Many thanks. :money:

susy_2

Reaper wrote:

Yes, often. This is the standard way to stooze.


There is some debate on this. Some people prefer to pay a couple of days interest to make it all look better, but I have moved large sums of money through Egg creating positive balances without problems. Occasionally people have reported that Egg called them to make sure the BT was valid, but were happy with a simple "yes" confirming that it was them and not somebody who nicked the card. I think this may happen when a large amount goes through - I don't think it is related to whether you put the card in credit or not, but it has not happend enough to be sure.

So I'd say do whatever you feel comfortable with.

Does this really say that you can put a credit onto Egg from a 0% credit card and then move this credit to your bank account? Should this be done when making the intial application for the 0% credit card (not egg), or can this be done when the card has been received?

Reaper

Yes that's right. As to when - it makes no difference to Egg, it depends on the other credit card. Check their T&C to see if there are any BT charges. A few charge unless you request your BT on application.

I'm always slightly uncomfortable doing it as when they do the credit checks they find out what your current balances are on your other credit cards, so if you request the BT on application they can see if you haven't really got any debt on your Egg card. However I've not heard of anyone querying it in practice.

susy_2

As it happens, I tried to apply for an Egg card online about 2 weeks ago (before I read Martins article). I completed the majority of the form, but then hit a problem and couldn't complete it for some reason or other (at their end). However I have tried many times since and as soon as I put in my name and date of birth, a page opens telling me that 'Unfortunately, they are unable to proceed with my application at this time, due to problems they are experiencing. I find it hard to believe that this website would be unavailable for this length of time - have I done something wrong? i.e. could it be that I am being rejected on my name and date of birth in relation to previous information I have given?. I have applied for a Virgin card online with no problems (although I don't know yet if I have been accepted).

Chadsman

Reaper wrote:

Yes that's right. As to when - it makes no difference to Egg, it depends on the other credit card. Check their T&C to see if there are any BT charges. A few charge unless you request your BT on application.

I'm always slightly uncomfortable doing it as when they do the credit checks they find out what your current balances are on your other credit cards, so if you request the BT on application they can see if you haven't really got any debt on your Egg card. However I've not heard of anyone querying it in practice.

If anyone does comment just say you made a large purchase in the last few days which hasnt yet reached the CRA.

yumi_2

I have just tried to apply online with egg using my husband's name. His application was rejected. We have always pay our credit card bills fully every month and never delay in mortgage payment, we only have 2 credit cards, 1 visa and 1 amex for the cash back. Any reasons for the rejection?

Reaper

Impossible to say without knowing everything about your personal circumstances. Start by clicking on the "Credit Rating" link near the top of this page to understand how credit scoring works. Then get a copy of your credit histories from Equifax and Experian to see if there is anything on it which is causing you problems. If it is in error then get it corrected.

Rickyplym

My sums don't add up or am I being thick! If I have £2500 at 0% from Barclay Card I have to pay about £50 a month over 9 months = £450. That £2500 will only earn £93.50 over the same period in a high interest account - so how does this 'super balance transfer' earn?

Confused I am, could someone explain?

Ricky