SBT into a current account using Egg

Kate_Davidson

I currently have £15K at 0% on a green Egg card.

I now have a new £10K 0% offer from my bank, and need to get it into my current account.

I have lots of other 0% offers currently running too (about £68K worth actually...) which cover the whole of my offset mortgage, but none of them expire until the end of May.

Please does anyone know whether I can balance transfer £10K into my green Egg card, then out again into my current account without forfeiting the 0% balance transfer deal that I currently have with Egg?

(I'd ring and ask them but I think they might smell a rat )

Reaper

If your are on your original Egg 0% promotion then yes.

If you are using your anniversary 0% promotion then no. Only balance transfers taken out in the first month of the 5 month repeat offer count so you would lose your 0% offer.

What many do is to take out an Egg Blue card too. It doesn't offer 0% but you can still pass BT money through it.

Milarky

Kate_Davidson wrote:

Please does anyone know whether I can balance transfer £10K into my green Egg card, then out again into my current account without forfeiting the 0% balance transfer deal that I currently have with Egg?

(I'd ring and ask them but I think they might smell a rat )

Drats! I wiped my last reply before I could post it!

The point was that you can only do further balance transfers to Egg at 0% provided it is a 'new' card [in the initial promotion period of 6-8 months in other words] OR during the first month only of an 'anniversary' offer period I'm afraid

Egg won't be bothered by your removing a balance and then putting it straight back on from somewhere else - they accept this is what people use the card for.

SOLUTION: If you are on an anniversary offer then you will have had the card for at least 12 months and so be eligible for an Egg blue card [probably with the same credit limit] Although Egg blue does not come with any 0% period on balance transfers, [but has 5 months 0% on purchases and 0.5% cashback at least] it still acts as a SBT card in place of the Egg [green] card.

Alternatively you might have another credit card which offers cheques with no fee [eg Mint, Goldfish, [some] Halifax, Sainsburys...]. You write the cheque, pay it in and then balance transfer to these cards as quick as you can!

Kate_Davidson

Thanks to you both.