Help With FD,EGG & ING Please

tight_as_a_ducks

I have £10000 with egg @ 0% which runs out may 1st.
I have been given a excellent deal with FD which will cover the above and leave me with an excess on my FD card.
I would like the excees to go to my ING account. Is this possible and how do i go about it. Do i pay egg off in may and still keep the egg card to allow me to BT to FD and ING. Is it possilble to "split" your credit limit from the same card to different places ?
Anyone any ideas ?
janet and john steps please!

Clareo

tight_as_a_ducks wrote:

I have £10000 with egg @ 0% which runs out may 1st.
I have been given a excellent deal with FD which will cover the above and leave me with an excess on my FD card.
I would like the excees to go to my ING account. Is this possible and how do i go about it. Do i pay egg off in may and still keep the egg card to allow me to BT to FD and ING. Is it possilble to "split" your credit limit from the same card to different places ?
Anyone any ideas ?
janet and john steps please!

Egg's a good card to keep as they give you additional 0%'s on the anniversary of getting the card think it carries on until at least 2006. You can also use Egg to do a Super Balance Transfer to your bank so you can a balance transfer from First Direct to Egg leaving an excess on your Egg card which you can then Super Balance Transfer to your bank then on to ING if you can't do it straight to ING with it being a savings account.

Reaper

Here is the simplest way to do it.

First bear in mind that your Egg balance lasts until 1st May so you don't want to waste the remaining 2 months by paying it off yet.

I don't know what your FD credit limit is so let's pretend its £15,000. Also I'm assuming you are in your Egg introductory 0% period, not the anniversary 0% deal (if that were the case my advice would be different).

1) Balance Transfer £15,000 between FD and Egg. This will leave a £5,000 POSITIVE balance on your Egg card.
2) Balance Transfer £15,000 between Egg and ING.

Now the £15,000 has moved from FD to ING and the Egg card still has £10,000 on it. Pay the Egg card off by 1st May.

tight_as_a_ducks

Thanks for the reply guys but i may have not made myself clear

1) I,m offsetting my mortgage with FD with the £10000 From Egg,this ends 1st May (Original 0% offer)
2) FD Credit Limit £25,000
3) I only need £10,000 of the above to to replace egg in May.
4) i want the £15,000 excess to go to ING
5) Can I BT from FD to EGG the whole £25000 then ask Egg to BT £10,000 to FD to offset my mortgage AND BT the remaining £15,000 to ING.

I know it,s a bit "cake and eat it" but i like the thought of playing around with the bank that,s shaf***d me for long enough.

Reaper

tight_as_a_ducks wrote:

Can I BT from FD to EGG the whole £25000 then ask Egg to BT £10,000 to FD to offset my mortgage AND BT the remaining £15,000 to ING.

Yes you can, but you can do it better this way:

1) BT £25,000 from FD to Egg
2) BT £25,000 from Egg to ING savings.
3) Just before 1st May repay the £10,000 on your Egg card with money from your ING savings.

That way there is no need to touch the money you already have in your offset account, and you earn as much interest as possible on your savings. Or have I misunderstood what you are trying to achieve?

stuwilky

And if you havnt already got an ING account, check the referrers board for the free £10 offers some people (not me) have been sent.

tight_as_a_ducks

When my egg card runs out in May i need £10000 for my offset account to
keep my mortgage "interest free".
I want to use FD (6 months 0% from first bt) to keep the intrest free period rolling for another 6 months.

The bottom line of the question i suppose is will EGG let me SBT to two different places?

Thanks for all your help

Reaper

I understand what you are saying and the simple answer is: yes, you can do 2 BTs from Egg as you propose.

What I'm trying to say is there is no need to move money out of your offset savings and back again. You are making it too complicated. Here it is again assuming you wait until just before 1st May. At this point you have £10,000 in your offset account and a debt of £10,000 on your Egg card which you need to repay:

1) BT £25,000 from FD to Egg [this leaves your Egg card £15,000 in credit]
2) BT £15,000 from Egg to ING

This leaves you £10k in your offset, £15k in your ING savings, £0 on Egg, and £25k on the First Direct credit card. Which is what you want.

tight_as_a_ducks

Thank you reaper your the daddy
i,m sorry if i,ve been a pain but i needed to make sure what i am about to do
is correct thanks again and keep looking after us MS babies