can you have a surplus on a credit card account? ONLY BT 90% of credit limit??

HOORA

Halifax website they do not deal with Egg Money ('this financial institution') when requesting balance transfers.

I was also told it is now policy to only allow a BT of up to 90% of max credit limit. Its not in my TandCs as far as I can see.

And I cannot increase my 5500 credit limit for six months on halifax one after i upgraded from halifax classic visa(account since 1998). Not explained at time either.

Since I cant BT from Egg money(balance 0.00) can i balance transfer from Egg card(balance 0.00) in order to give myself a surplus in that account so I can do what i want with that money(pay off a loan)??

Is there anything to stop being in positive balance on a credit card?

And will Egg allow me to transfer that 'positive balance' to my eggloan, or do i have to move funds to a current account before paying off loan?

All advice welcome. thanks.

Hoora

grumbler

HOORA wrote:

Halifax website they do not deal with Egg Money ('this financial institution') when requesting balance transfers.

Bad news. :think: Let's hope other CC companies don't follow Halifax ...

Since I cant BT from Egg money(balance 0.00) can i balance transfer from Egg card(balance 0.00) in order to give myself a surplus in that account so I can do what i want with that money(pay off a loan)??

Is there anything to stop being in positive balance on a credit card?

And will Egg allow me to transfer that 'positive balance' to my eggloan, or do i have to move funds to a current account before paying off loan?

See: Egg card - positive balance?? . However, make sure first that Halifax deals with this 'financial institution' ...

EDIT. May be this is not bad news. If my memory doesn't fail me I recall having poblems with BT to Halifax or Sainsbury's in 2004. They had quite a long list of 'institutions' they didn't deal with.

mountainofdebt

HOORA wrote:

Halifax website they do not deal with Egg Money ('this financial institution') when requesting balance transfers.

but if other financial institutions decide not to deal with Egg won't that effectively kill off Egg and/or stoozing?

The_Boss

Just adding to this that Halifax wont let me transfer from my bmi MBNA card. Morgan Stanley is fine though. Could this be down to them not wanting to let you transfer to a card that you can pay money into your account from?

galileo

I have had a positive balance on my egg card loads of times in the past and have experienced no problems in doing this...

Paul_Herring

galileo wrote:

I have had a positive balance on my egg card loads of times in the past and have experienced no problems in doing this...

The problem appears not to be with Egg allowing a positive balance from another company, but Halifax generating a positive balance on Egg.

The_Boss

Or generating any sort of balance on Egg it would seem.

Thefunkygibbons

Have you tried by phone as members over at https://www.stoozing.com have done it that way