Turning credit cards into loans

lynseydee

Having read about turning credit cards into loans, where the Egg card was used as an example, does anyone know if I can do this with the Intelligent Finance credit card that is offering 4.95% life of balance transfer rate. I only ask as they don't accept balance transfers from Halifax cards of which I have and would like to transfer. This card is being named as one of the top ones so would like to take advantage if possible.

grumbler

lynseydee wrote:

... does anyone know if I can do this with the Intelligent Finance credit card that is offering 4.95% life of balance transfer rate

No, you cannot transfer a balance from Halifax directly to IF. See other cards with low life of balance rate here: http://www.stoozing.com/0fees.htm (bottom of the list).

lynseydee

Thanks for your reply grumbler but I what I really wanted to know was whether I could treat the IF card like the Egg card that was used in the example under "turning credits cards into loans". Thanks for the link though, I will certainly have a look.

grumbler

lynseydee wrote:

... what I really wanted to know was whether I could treat the IF card like the Egg card that was used in the example under "turning credits cards into loans". Thanks for the link though, I will certainly have a look.

Egg Money card is a unique card. In the example it is used as an intermediate (mule) card to move a loan to a low LOB rate credit card. As far as I understand, your debt is a credit card balance, not a loan.

lynseydee

Thanks grumbler, back to the drawing board I guess.