Egg - do I need to be careful

Suzz_2

Thanks for the advice, which I will be taking...
I'll pay Egg off in 5 months & won't touch it again 'til the next anniversay, as I have 3 other new cards on the go..  May look at getting an MBNA in 6 months or so when some of others are cleared.

I do wonder however what Egg could do to stop someone..  (I'm sure they know whats happening anyway...)  We are not breaking the terms of the account as far as I know..?

Surely the Blue card is further encouraging people - use green for free BTs; blue for normal BTs in 5 months when green is full.  I've read posts from people who are using Egg to the full and hold the free cash in Egg mortgages or savings accounts.

Sorry puno - going a bit off your original subject here.
On issue of how many cards at a time... Until the Egg offer I've had usually 1 (max. 2) cards at a time on 0%, so not sure how many is still OK. If you've only just taken out an Egg card, I would say it is not unusual to use to shift ~£13K around.

puno

-thanks digging out - I will use the bcard for purchases and bank the cash - hadn't thought of that - nce one!

thanks to every one else for their input, I think I will give the credit card applications a rest for a while and just BT what I have already, should make me about £500 in 12 months or so!

Joe_Bloggs

I finally get Suzz's post.
Maxed out egg card with a blatant cash transfer to current account also with mortgage provider and then asked for more money to do the same!

Please Sir, can I Have some more?
This is bringing back bad memories all over.

40079

Hmmm  I'm new to this site and having read through some of the comments I may have to try and shut the stable door.....

Since opening an Egg account in April I have done 3 deposits to Halifax curent/websaver account (yes, you can deposit straight into the websaver!) and 3 balance transfers to other 0% cards.

Over the last 4 months I have opened one 0% balance transfer card a month:

Capital One £14,900
Egg £15,000
Abbey £10,000
and finally Tesco.  This was an interseting one to say the least.  I guessed I had well and truly blown my credit score when the limit offered was only around £4k.  I decided a quick call was worth a punt.

The operator said that savings could be taken into account when assessing a credit limit and gave me a fax number.  So, I sent off the details of my savings, INCLUDING THE £39,900 ALREADY DEPOSITED FROM THE OTHER 0% CARDS !!!! and by return got a letter authorising a limit around 4 times higher.  I've just transferred that off the Egg card so it can be deposited to Halifax, I'll report back in a week or so if it all goes through.

PS code from linemypockets for £10 off £75 worth of Tesco.com groceries worked today.

Joe_Bloggs

We are not worthy oh 40079.
Bows,kowtows and lies prostrate.

Welcome to the forum.
J_B.

bpyoung

Hahaha, 40079, that's great. Must remember this when my current stooze-fest needs shuffling.

Milarky

The operator said that savings could be taken into account when assessing a credit limit and gave me a fax number. So, I sent off the details of my savings, INCLUDING THE £39,900 ALREADY DEPOSITED FROM THE OTHER 0% CARDS !!!!

I assume they asked for faxes of 'original' documents - like paper statements from your savings account(s) - or are they less fussy than even that?

40079

I assume they asked for faxes of 'original' documents - like paper statements from your savings account(s) - or are they less fussy than even that?

Milarky, I sent a fax of photocopies of statements, building society books, a print out off the internet of all the Halifax accounts, including websaver (where all the 0% stuff is deposted) in my wife's name with a note saying that was for tax reasons as she is a non tax payer, and my ISA statement was at least 6 months out of date.

I was pleased to note that the 5 months of 0% BT in 2005 and 2006 applies to existing Egg customers too now

Hope I have got the quoting right in my second post

Leia_Stephens

40079 and Milarky,

I applied for a Halifax One card in May and got rejected, they were not helpful when I appealed the decision and informed them that I could pay this amount back from savings.

Would it be advisable to try again, but this time send my latest ISA statement with my application ???

Leia

40079

40079 and Milarky,

I applied for a Halifax One card in May and got rejected, they were not helpful when I appealed the decision  :( and informed them that I could pay this amount back from savings.

Would it be advisable to try again, but this time send my latest ISA statement with my application  ???

Leia

Depends what you are looking to do really (super-tarting, reduce monthly interest on existing cards, just get a new card?)

There are plenty of others to try given that Halifax are not being very helpful (this is my experience of them too, we got about £200 in compensation for a very badly handled current account switch). I have also just been told that Halifax are cutting cashback from 1% to something like 0.25% so I won't be using their card as my principal purchase CC any longer! All in all I would just suggest looking elsewhere.

Based on my Tesco experience I would not suggest sending details of savings with the application unless you have reason to suspect you have a poor credit rating. (See the Experian thread for checking your rating free.) Assuming you get accepted by someone else, resort to sending in savings details only if you get a low credit limit.

HTH