Egg as an extraction card...

chokri123

Evening all Moneysavers...would like your views on this:

I have 21K in total from Egg and MBNA and this is all sitting comfortably in my Mortgage.
My 0% period with Egg ends in June 2005 and Sep 2005 for MBNA. I'm aware that MBNA charge now for all BT's/SBT's so dont want to use them for another SBT.

Can I/has anyone out there ever used Egg to do a 2nd SBT,while still in the initial 0% period? (so basically got another 0% BT card,shifted the balance from that to Egg and then done a SBT from Egg to current ac)

Will Egg let u do this for no fees/still at 0%?

Do they let u do as many SBT's as u want in the 0%
period,as long as u are in credit with them each time?

My credit limit with them is 5k...if I was able to get another BT card with say a 10k limit, could I shift 10k to Egg and then do an SBT for 10k?(will they allow u to do a SBT for an amount greater than ur credit limit,if u have that much credit with them..and for 0%?)

Lots of questions I know but I'm a rookie Moneysaver and am looking for some expert knowledge in ways to maximise my 0% funds...thanx.

mary

The short answer is yes to all of your questions. If you have excess on one card say 10K on MBNA and only £5K on Egg, you can split it into two moves to be on the safe side, which is what I would do. There are people on this site who would put the whole lot across in one go and create a positive balance, as Egg do not seem to mind this, and simply then put it into your current account.

Personally I like to be ultra cautious. You can do as many SBTs during your 0% period. By the way when you have made a minimum repayment to Egg, provided that amount of money is £100+, you can then do a SBT of that same money back to your current account and on to your savings account.

Good luck

Reaper

I think many of these were answered in your last thread, but anyway, the answers are:

Can I/has anyone out there ever used Egg to do a 2nd SBT,while still in the initial 0% period?

Yes

Will Egg let u do this for no fees/still at 0%?

Yes

Do they let u do as many SBT's as u want in the 0% period,as long as u are in credit with them each time?

Doesn't matter if you are in credit or not, you can do as many SBTs as you like without fees. Outside the 0% period it is free too, although of course you will pay interest if you leave a debt on the card.

My credit limit with them is 5k...if I was able to get another BT card with say a 10k limit, could I shift 10k to Egg and then do an SBT for 10k?(will they allow u to do a SBT for an amount greater than ur credit limit,if u have that much credit with them..and for 0%?)

Yes


EDIT: You beat me to it Mary

chokri123

Thank u Mary and Reaper!...(Sorry if I seem to go over the same topic but it sometimes feels to good to be true and I need your expert opinion to back things up...)

If I could buy u both a drink I would!..best of fortune in your moneysaving.

Any tips on the best 0% BT cards around, giving high credit limits?

Gotabiscuit

Any tips on the best 0% BT cards around, giving high credit limits?

I think you've got them already - Egg and MBNA tend to be among the most generous.