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A free mule ride

I'm actually trying to setup a credit card loan, gives me greater flexibility of over/under payments etc. Baclaycard Life of balancer transfer, currently 6.9% seems to be best on the market plus it seems to be lower than all personal loans. I already have this card, and have checked and the offer is open to me. However the problem i have is that the purchase i wish to make cannot be made on credit card, therefore i need a way of getting the money, hopefully free of charge, to my current account.

Thats where (as it seems to be called) a mule card comes in, and ideally at zero cost to me. I do currently have an Egg Card, however reading previous post its seems this is not the same as an Egg Money (and i believe now known as Egg Money World MasterCard), looking at its T&C it also now costs £1 a month (yes i know i could close it just as soon as i've opened it), plus its not clear (to me) if this card still allows a positive balance on the account, as it not sold as a product that can hold a positive balance.

It has also been suggested in previous posts that Co-Op clear card may be a good idea as it has a Zero cash advance charge, but i should be wary about putting a positive balance on cards that do not expect to have it.

Any suggestions/Advice on how i can do this free of charge?....as my question is essentially the corner stone of Stoozing.

If no comments next steps fore me are to call both companies and see what they say, and if that does not reveal anything just apply for them both anyway and do a test run with a small sum of money.

Thanks!

Replies

  • Moggles_2Moggles_2 Forumite
    6.1K Posts
    Welcome toMSE!

    As you already have Egg card, the easiest way would be a money transfer to your current account. (Egg would allow you to borrow up to 95% of your credit limit.) Then transfer the resulting balance on your Egg card to Barclaycard.
    People who don't know their rights, don't actually have those rights.
  • CERCER Forumite
    4 Posts
    Thanks. I've already checked with Egg and the only way i can move money from my credit card is to do an online balance tranfer. Therefore i want to avoid it being categorised as a cash advance and therefore incurring charges. Or is there no way a balance transer to a current account can be considered a cash advance? I've just tried to check T&C for this card to see what the charges are, but online it says to check the paper copy sent when i got the card.

    Or do you mean actually phone Egg and ask them to make a BACS transfer to my current account as has been suggested in other posts? And this won't be regarded as a cash advance?
  • Moggles_2Moggles_2 Forumite
    6.1K Posts
    CER wrote: »
    I've already checked with Egg and the only way i can move money from my credit card is to do an online balance tranfer. Therefore i want to avoid it being categorised as a cash advance and therefore incurring charges. Or is there no way a balance transfer to a current account can be considered a cash advance? I've just tried to check T&C for this card to see what the charges are, but online it says to check the paper copy sent when i got the card. Or do you mean actually phone Egg and ask them to make a BACS transfer to my current account as has been suggested in other posts? And this won't be regarded as a cash advance?
    I've only ever requested a money transfer from Egg card online, but for peace of mind, it may be better to do it by phone, so you can make certain BT rates apply ;)
    People who don't know their rights, don't actually have those rights.
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