Egg Loophole Discussion Area

Red-Collector

Hi, I agree with all your comments regarding the treatment of transactions on the Egg card with regard to aking advantage of the 0% anniversary offer, clearly the only 100% guarantee way of maximising this is to ensure that no debt exists other than that dedited for the balance transferred, however one point I picked up, I specifically wrote to Egg to ask then how the minimum payment would be credited should there be outstanding balance transfer and new transactions on the card, their reply did not tally with what I think you have stated where the minimum payment was set against the balance transfer amount first, the official reply I got from egg was that any payment would be split 50-50 reducing both transaction value and balance transfer value, clearly if I have understood your stated position correctly and it is really how payments will be treated then Egg will not do themselves any favours misguiding customers in this way.

nh

The reason people are having problems getting the 0% deal when their anniversary is in March, is because the offer doesn't start until April 1 this year, says the EGG website. So from April 1, on your anniversary, you will get 0% for five months. That is very unlucky for those with anniversaries in March cos they have to wait until next year for their 'first' anniversary.

FieryBlondeScot

till tnite i had not heard of this loophole. i have had an egg card for years and they have never offered me this anniversary date thing and i rang them yesterday to hint that if they could not offer me a reduced interest rate then id move the balance to a cheaper card so i guess now i am just wondering why they havent offered me this thingwy, they stated they had no offers for existing customers at the moment >:(

ps :-* nice pic martin
::)<< bats eyelashes

budgetflyer

I hadn't been offered it either but after reading it here I sent them a secure message via the site asking if I qualified and WHEN. The reply within 24hrs confirmed I did qualify and my anniversary month will be January. That means I think any transfers for the whole month of Jan will be 0% for 5 months . They also confirmed that this will be available every anniversary . This card has sat at 0 balance for the last 9 months. Im now starting to use it for my monthly spending,hoping they see a bit of traffic so as I can maybe increase my limit intime for the transfer

FieryBlondeScot

to add insult to injury not only would Egg not offer me a lower rate/better deal when i threatened to take my balance elsewhere... they then informed me my anniversary date is not till March 2005 too!!! (i think they plant hese things) clever me thinks i will transfer the balaance off egg and onto my barclaycard which i have recently paid off only to be told by Barclaycard that they also refuse to let me have ANY of their special deals including 0% or a low rate for life of balance as is currently being advertised for existing customers >:( so it seems the egg deal is crap for me and all the March people, and barclaycard dont even want my 1400 quid from Egg as they say i have a low credit score. had that flipping barclaycard for years..... :-[ oh well try a diffrnt strategy tomorrow :P

RonnieK_2

A note to remember is that if you want to transfer from EGG to MBNA, MBNA will charge you an administration fee. I think that it is up to a maximum of £35.

david78

I'm so excited. My anniversary is next month. (September)

Well I think its next month! The first transaction on my card was on 30th September last year, and I got an email from them aons ago (and I have kept it) saying that September was my anniversary month.

My card balance is 0% (following the loophole), and
I intend to do a balance transfer to my Morgan Stanley card whose initial 0% period also ends at the end of September. I intend to do the transfer on the 1st of September.

Milarky

david78,

Why not transfer from current account to Egg for one month [1st September] and then pay off the Morgan Stanley on the last possible date [30th September] - you're missing out on a month, potentially!

You'll only get five months on Egg (4 the way you are proposing ot do it), remember, and it will go quicker than you ithink... Also get your Egg limit raised now. Use the full credit limit, regardless of the debt to MS and put it somewhare handy.

Do you want a card to spend on? Then apply for an Egg Blue card with 5 months interest-free purchases. September [the start of..] is good time to do this since cashback runs from September to August, so you have the full 12 months to in which to reach £5 (£1k normal of purchases). People [like me] who went ahead and applied for our Egg Blue cards in June and July have been 'stuffed' in that respect. [But I can't really complain - My Anniversary month was back in March - the first month they made this offer!]

Good luck

david78

I know I could put the money from my Egg card in my current acount first and then transfer this to ING to get some interest. Allowing for transfer time in and out, I estimate I could get 20day's interest (about £8 ). And to be honest I might just do this.

It rather depends on what else is happening with my life in September, because you have to be on the ball to get the timing right.

I have considered upping the limit, but don't think Egg will let me when my anniversary is so close. I am also applying for a new card (December?) and am hoping to reduce my credit limit before then (cancel Morgan Stanley etc). I will up the limit in good time for next year's anniversary (if I get one).

As for Egg blue, I have one, so like you I'm stuffed because I can't earn minimum £5 cashback. Oh well, have £5 on my green card to pick up. And at least I have put all my spending on the egg blue card and saved the money I would have spent to earn some interest.

david78

I did my anniversary transfer on 1st of September (to my current account). I got an email on the 7th (my statement day) reminding me it was my anniversary month. They say I can have this offer until 2006. So I get it next year, but what about 2006. What if the offer is pulled in April? Does anyone know?