Best way to get balance transfer money ?

cazarol

Thanks for that grumbler. I am just getting this straight in my head. So if I dont have a genuine balance on a credit card to transfer at the moment I could get cash into a current account by way of a 'Super Balance Transfer' and then transfer that money into my savings account for the interest free period. I am right in thinking that only Egg and Mint do a SBT so I wouldnt be able to use the Barclays 10 months 0% as referred on Martins email today??
If thats the case, I just apply for an Egg card or Mint and get as big a credit limit as I can and then call them and ask for a Super Balance Transfer and give them my current account details.

grumbler

cazarol wrote:

So if I dont have a genuine balance on a credit card to transfer at the moment I could get cash into a current account by way of a 'Super Balance Transfer' and then transfer that money into my savings account for the interest free period.

Yes. Sometimes it is possible to make a SBT directly to (money to, 'balance' from) a saving account if it has a sort code and a number.

I am right in thinking that only Egg and Mint do a SBT

No, there are other cards: http://www.stoozing.com/0fees.htm ( represents a card that can be used for SBT's), although majority charge 2% capped or uncapped fee

so I wouldnt be able to use the Barclays 10 months 0% as referred on Martins email today??

AFAIK you cannot use this card for SBT.

If thats the case, I just apply for an Egg card or Mint and get as big a credit limit as I can and then call them and ask for a Super Balance Transfer and give them my current account details.

Yes, BUT:
1. Don't forget about fees. These fees can negate your potenial profit. Many cards still offer 0% deals without fee. If you don't have a balance to transfer you can use The Easy Route to start.
2. You can do this online with Egg. If you apply for Egg Money instead of Egg Card you would be able to use it as a 'mule' for other cards including Barclaycard (The Middle Route). Don't hurry with applications, do your homework first.
3. AFAIK you cannot do this over a phone with Mint. You need CC cheques.
4. SBT is 'local', unoficial term unknown(?) to CC companies. If fact you must ask them to transfer your overdraft balance to a CC. And only you know that there is no any overdraft in fact .

mike1_2

Thanks Grumbler
nice step by step guide also links help to .
i stopped my bt from egg in time , and have applied for egg money card (easy for existing customer) and will bt from that to new card when i receive the card, i will be getting rid of egg green now
thanks to every one that has helped me to get to grips with this
Mike