Egg Mule / SBT am confused

pin

I know there's been crazy talk recently about Egg and BT fees etc. I'm confused re my present situation.

My anniversary has just ended and I've paid all my money back to Egg (originally got the card Nov 2004). I want to take up the Barclaycard offer and was hoping to use Egg as the mule.

Therefore would get Barclaycard, transfer money from Egg as balance transfer. This would give me positive balance with Egg. This I would then SBT into my saving account.

Is my logic correct with the above, and will I get hit in anyway with the new charges?

Oh, so confused.

Milarky

pin wrote:

will I get hit in anyway with the new charges?

Oh, so confused.

The only charge you will pay for doing the transfer to/through Egg is the one that Barclaycard charges you to balance transfer anyway.

Currently your Egg card (the VISA card) only charges you for balance transfers if made during a month when they are running a 'Special Promotion'. Egg often put these up around the 5th of the month (and then tell you about it by email). They sit there until the end of the month (let's call that the 'Special Promotions' window) You should avoid making any transfers during this window or you will be charged a fee. The advice must be to check with Egg by secure message something along the lines of:

"Can you confirm that no Special Promotion is being offered during the current month of [and put the month in]?"

Then when they say ''No.'' you are safe to transfer - either before or after the Barclaycard transfer hits the Egg account (But if you do it just after there will be no daily interest charge from Egg of course)

There is a lot of 'chaff' about at the moment to the effect that Egg will soon charge for anniversaries (like the one you are finishing). This remains to be seen as the've posted on this page:

http://new.egg.com/visitor/0,,3_84106--View_1763,00.html

"* From 1 May 2006 the handling fee will increase to 2.5% with no maximum fee. The handling fee also applies to anniversary offer balance transfers."

But even if true (about the inclusion of anniversary offer balance transfers) that still leaves 'standard rate' balance transfers as fee-free for the foreseeable future - which means that Egg card remains good as a SBT (or 'mule') card for now.