Debit Overdraft debt to Credit

fuzzyfuzzy

Apply for the egg money card, typical apr is 6.9% and theres no charge for withdrawing cash. I no of no other account that has a rate that low and doesnt charge for cash transactions

Nipper78

Look at above posts, someone advised they allow transfers, I applied and was wasnt accepted. So can I transfer with my Barclays cc to debit?

fuzzyfuzzy

Nipper78 wrote:

Look at above posts, someone advised they allow transfers, I applied and was wasnt accepted. So can I transfer with my Barclays cc to debit?

Look at my above post and you'll see no mention of transfers just the word CASH, quicker and easier than transfers and at that rate probably cheaper too.

Use your brains and you'll see that egg card and egg money card are completely different, so just cos your declined for one doesnt mean youll be declined for the other.........trust me, you might just get accepted. (different credit scoring for each card as the money card doesnt give you as much credit typically as the egg card)

Most credit cards will allow transfers into current accounts, they just call them money transfers. Why not just transfer the money into your gfriends/wfie/dads/mums/mates account instead and withdraw/transfer it from there. You dont have to transfer the money into your own account you know and you could even transfer it onto their credit card and trsnfer elsewhere from there! If youve got bad credit this is prob your only choice.


Please read the 'advice' you request before dismissing it

Nipper78

I didnt realise it was a different egg card sorry, still no need for your tone however, chill winston. I was pretty sure I could just transfer from my Barclays cc to my Barclays debit!? So what would be the point in the egg money card then really, or transferring moneys to other peoples accounts? Sorry, you may think you are, but your not being alltogether clear, infact to the contrary a little contradictory, or even true to your name, "fuzzy".

Please take a chill pill and be nice, if not dont bother, thankyou.

YorkshireBoy

fuzzyfuzzy wrote:

Apply for the egg money card, typical apr is 6.9% and theres no charge for withdrawing cash. I no of no other account that has a rate that low and doesnt charge for cash transactions

To clarify a couple of points...

Whilst there is no cash withdrawal 'fee' on Egg Money, the withdrawal (if it creates a negative balance) will attract interest from day 1 until repaid in full. One way round this, of course, is to BT a ficticious debt from Egg Money to the Barclaycard (fee involved?), to create a positive balance on Egg Money which can then be BACS transferred to Nipper78's current account.

Because of the OP's status, ie self-employed and recently declined for the Egg Card, he may be unlikely to get Egg Money's 6.9% typical APR. If accepted at all, he may find that Egg Money's alternative interest rate of 15.9% APR proves to be more expensive than his current account overdraft's EAR.


Nipper78 - Perhaps a way forward for you is to go shopping with friends/family who are planning to pay cash for their purchases. You offer to buy their goods on your Barclaycard, and put the money they give you into your current account to clear the overdraft. Obviously you'll have to settle the Barclaycard before the end of the 3 months introductory period on purchases (but it sounds like you only need the money for 60 days anyway). Does this seem workable?

Nipper78

Thanks Yorkshireboy, for the past week I've been doing similar, I've been purchasing very cheap items, just getting cashback, putting the cash into the debit account. The money in appears almost immediately, the money going out takes a few days, so just one more and I'll be able to clear it with the Barclaycard.

Obviously I'm new to all this so am trying to get a grip on it all, weighing up the options whilst trying to understand them.

With a 0% APR on purchases for 3 months on the barclaycard, can I spend to go overdrawn to say £500, and as long as I pay it back within the 3 months I wont pay a penny, probably got that wrong but if someone could explain that would be great.

Could I do a 0% BT to a charity card then after awhile, and then what would I be paying then just to be sure?

Warriorsith

I thought it was a no no to transfer any money to a Credit Card esp a BarclayCard as their rates are excessive after the introductory months. May I suggest you just concentrate on sorting your business out especially if the reason for you getting it to debt is due to refunds as your customers are recieving damage goods due to the postal service, have you thought of providing better packaging for the products your selling, that way even if your spending more on packaging atleast your not giving refunds, or as part of your selling price place a bit more of charge on postage for the goods bought so you can use a better service ie courier.
Also have you spoke to your bank to ask for a slightly larger Overdraft, say for the 60ish days, and agree a repayment date to bring this overdraft facility to its present limit?

Nipper78

Warrior its transferring from barclay card to debit, not to as you said. This is a credit card forum for helping people with credit card queries, this is the situation I'm in, as for taking steps to deal with the business problems and more, thats not for here, its my side, and measures are being taken of course.

Theres no issue with packaging, I pack my goods better than most. I have been using DHL for the past year with no problems, over the past month 20% of items have occurred some internal damage from the boxes clearly being chucked around, the item itself isnt moving but internal components of course will (so theyre really being chucked around). Royal Mail have been the worst via recieving items, new staff is clearly to blame, for instance the postmen leaving a £150 laptop on the doorstep getting wet. So further measures are being taken, this is the situation I'm in.

Yes I've spoken to Barclays with regards to a higher overdraft and the £590 is the limit.

With regards to my previous post again then please, help, comments, thankyou.

Warriorsith

In regards to your post, the most simplist way to have money from your CC to your DC is to go to a BarclayCard Cashpoint withdraw the amount required, go inside a Barclay's Bank and place in to your Debitcard account. Of course some charges will apply to the withdrawal.

In regards to damaged goods, will Royal Mail reimburst you for the damages they've caused to your products? I realise this is a Credit Card thread I was just trying to be helpful to the whole of the situation you are in.

Nipper78

Withdrawing cash was discussed way earlier on and obviously there's charges, but some comments have suggested I'd easily be able to do a simple bank transfer from the Barclays credit to the Barclays debit, with much less or even no charge!? Plus I still haven't gotten comments on my reply to yorkshireboy and the more it goes off that area, the more the focus is being taken of those comments which I want commented on still!??

Anyway merely as a sidenote, Royal Mail are bu&&*rs with re-imbursing customers/recievers, even with insurance. I worked in a despatch department and I know, plus its gotten much worse since. A few of these items were 1st class post (sent to me) and regardless, most of the damage is internal components being moved/broken from the boxes clearly being chucked around. There's little external cosmetic damage to photograph to proove it was them (because they were well wrapped). I'll just complain to my local sorting office and avoid buying from sellers shipping with Royal Mail because clearly the local sorting office and new staff are being very careless with post.