Balance Transfer from Egg CC to Current Acc

DopeyDora_2

Hello,

I have applied & been accepted for first CC. From EGG, credit limit £3500. Can I pay this over to my bank current account & then from there into my ING savings account?

I will then pay the 3% min payment monthly to EGG from my current account for the interest free period, leaving balance in ING gaining interest, then pay off the balance either from ING or BT to a new card.

If I can't do the above (ie to get money into current account), is there another way?

Dora

YorkshireBoy

Assuming you've applied for the Egg Card, then yes, you can do as you say.

However, if you pay Egg 3% each month, you'll reduce your ING 'profit' - since the Egg minimum payment is only 2%.

PS: At 4.5%, ING is a distinctly average interest rate. Why not go with A&L's OS2 at 5.15%?

DopeyDora_2

Yes, is the Egg card, not the Egg money one.

Just that I already have an ING account. Already have A&L savings account but is a fixed monthly pay in which matures after 12 months. Could look at setting up another A&L one I guess.

Thanks for the note re 2%!

Dora

grumbler

I agree absolutely that A&L is better than ING, but if you still want to move money to ING you can do this directly from Egg.


You can easily open A&L Online Saver online.