Egg Anniversary month help, please

kalos

I've searched for around half an hour and can't find a definitive answer to this very simple question, hence this post (apologies if I have missed the answer elsewhere and used up board space unnecessarily).

During the actual anniversary month (I appreciate it shouldn't be used for this purpose at other times during the 5-month 0% BT period), can the Egg Green card be used as a mule to get money from other cards into my bank account ?

If the answer is 'yes', I shall certainly be careful to ensure that I get 0% BTs (and not get into the confusion with recent offers) - but, apart from the 95% rule, are there any other pitfalls to watch out for ?

Milarky

kalos wrote:

During the actual anniversary month (I appreciate it shouldn't be used for this purpose at other times during the 5-month 0% BT period), can the Egg Green card be used as a mule to get money from other cards into my bank account ?

Yes - it's perfectly OK for muling in this month. (I assume you have got a pre-May 2005 card?)

Just be sure of the month in which your anniversary falls (and email Egg to get them to confirm the deal). The 95% only applies per transfer - it seems to be an automated feature that is all - so there is nothing to prevent you getting to 99% of your credit limit by two transfers (i.e '95%' then '95%' provided second transfer is at least £100 - otherwise '<95%' then '£100') and certainly nothing to prevent you transferring an 'in-credit' amount moved on the the Egg card first, provided the amount of transfer is kept below 95% on Egg card CL at each stage.

If you transfer on the very first day of the anniversary month, transfers can go through at a non-0% rate however. This is where Egg has not had time to switch the rates over. It happened to me and you don't know about it until it generates an interest charge at the mid-month statement date. Just contact Egg and they will fix it, eventually, but it does mean you ought to aim to leave at least 1% of the credit limit to avoid the interest (if added) causing additional probs with 'over limit' charges.

kalos

Milarky - that's what I thought, but I just wanted to be sure before heading off to open up some more credit. A few things have just finished, and my first anniversary month is actually March, so I should now have a reasonable amount of time to get things rolling. I'll watch that first day of the month, no point in creating problems for myself, and, although I had seen the tip on 'double-dipping', it did no harm to remind me. I hadn't thought about the 95% applying to positive balances, but I'll just keep wearing away at it. March could be a busy month....timing is everything, I guess, and the first step - writing to get all sorts of confirmation from Egg - is already in hand. Thanks for taking the time to respond most helpfully.

baffcat

kalos wrote:

I hadn't thought about the 95% applying to positive balances, but I'll just keep wearing away at it.

Hi

Just a thought, as it's come up in the past few days for me too. I'm not in my anniversary month yet, but wanted to use the Green Egg card as a mule. I checked with CS, who told me I could only transfer a positive balance into the current account I pay my DD from. For me, this was ideal, as it's my One account, and that's where I was going to let it land anyway. Otherwise, normally I just BT to my RBS (One-linked) CC and let it get swept into my current acount sometime in the next week.

However, I transferred 100% of my positive balance, and I see on my account statement today that's it's all gone through smoothly. I also see the correct amount has landed in my One account. So... I wouldn't be so sure the 95% applies to positive balances, not from my very recent experience, anyway.

I must admit, I'm looking forward to seeing £14k move in April with hardly any extra work. So much easier than chasing new card offers. Just got a new Mint card, and hadn't realised it too has an anniversary offer.

Oh Happy Days

Baff