Advice Needed - Transfer Loan to Balance Transfer for Life??

bunny-zoe

I have just taken out a loan with egg for £7500. After reading Martin's new book it got me thinking that maybe I should have borrowed this money using a balance transfer for life card. I will continue to pay the same amount which I would be paying each month for my egg loan.

The best balance transfer for life card I can see is 4.9% from American Express and it has no handling fee. My husband will be applying for this card in his name. Our loan is 7.9% so have worked out that over the 3 years I could save approx. £330 in interest.

My dilema is how do I get this loan onto the balance transfer card as Amex only transfer balance from other credit cards.

I have an egg card and also a IF card but both have balances on - yes I am a tart!!. I have just been accepted for an Barclaycard Platinum (0% 10 months no handling fee) to Balance transfer off my Egg balance as it's 0% Anniversay expires in May.

Any advice would be gratefully appreciated.

Nikki

YorkshireBoy

Egg Money would seem the obvious choice.

Check out the 'Stoozing' article at http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1076883546,34894, see 'The middle route'.

See also the 'Super BTs' article at http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1085355871,12390,

bunny-zoe

Thanks for your reply Yorkshire Boy.

I have read the Super BT link and my plan is to

- move the balance from my Egg card to my new Barclaycard which I was planning on doing anyway as the 0% ends in May.
- Once the Egg card has a £0 balance to then Super Balance Transfer the Loan amount to my Bank Account
- Then once this transaction appears on my Egg Card balance transfer to my hubbies Amex 4.9% for life card...