How do I get cash from a Credit Card without an Egg Money Card?

rossyl

So,

I can't get an Egg Money Card, as i had one and didn't use it for years and it then closed due to inactivity. I need to wait a year before opening a new account.

This leaves me in a tough spot, as i'd like to get cash from a credit card, but don't know the best way to do it (or if it's possible) without an Egg Card.

I've thought about using Paypal. But does anyone have any ideas?

Thanks,
R

YorkshireBoy

Are you wanting to stooz? Or do you have a 'real' need for cash at 0%?

rossyl

Basically cash at 0%!

I'm going to do some house renovations and inevitably there will be "cash" payments. Hence the need for access to the cash.

I am able to pay it off, so there's no need for concern on that front. But given the large amount of expense I will experience in 1-2months I wanted to spread paying it over 6-8 months.

YorkshireBoy

rossyl wrote: »

I am able to pay it off, so there's no need for concern on that front.

I wasn't concerned.

But given the large amount of expense I will experience in 1-2months I wanted to spread paying it over 6-8 months.

Sounds like the M&S card Sterling travellers cheque loophole might be a possibility then, being as it has 10 months 0% on M&S Travel Money if bought with the M&S card.

You buy Sterling TCs for a 1% fee, and simply pay them into your current account. Wait 4 days for clearance and then spend the money.

Search this board, and the stoozing website forums, for a thread on the subject.

If you wanted longer, an MBNA card would give you 13 months 0% for roughly twice the fee at 1.9%.

lisyloo

What do you want to know?
Seems pretty clear to me

You buy Sterling TCs for a 1% fee, and simply pay them into your current account.

rossyl

Hi,

I've had a look but don't see this offer on their cards...sure I am being stupid.

This seemd to be something they had with their M&S &more card which i cannot see anymore.

Hoping I'm wrong.

edit: i think it may just be for 55days...or again, I may be wrong.

CannyJock

It's covered here confirming it's a purchase if you use your M&S credit card http://money.marksandspencer.com/travel/travel-money/more-information/

And here http://money.marksandspencer.com/cards/overview/ confirming that you get 0% interest on purchases for 10 months.

Combine the two together and you can stooze money at roughly 1.2% APR.

Teblin

and banks dont charge a handling fee for paying sterling travellers cheques into your account?

benroles

Remember some cards allow money to be paid straight to a bank account anyway - MBNA (and the brands they use under license, e.g. Virgin Money) so you might not need to 'mule card' anyway.

CannyJock

benroles wrote: »

Remember some cards allow money to be paid straight to a bank account anyway - MBNA (and the brands they use under license, e.g. Virgin Money) so you might not need to 'mule card' anyway.

Although they will charge a 4% fee for the privilege which is higher than the 1% fee M&S will charge

Teblin wrote: »

and banks dont charge a handling fee for paying sterling travellers cheques into your account?

And no, my bank won't charge me for paying in sterling traveller cheques, but if in doubt, speak to your own bank to be sure.