Egg: min payments and SBT looping

kinesin_2

Well after finding this site I'm now currently stoozing my EGG card with over 5K worth of cash. ATM I've got a minimum DD payment from one of my account which works about £110 pm, which leads to the following question.

Once I've paid the monthly £110, can I just SBT back into the account it came from? This would place the outstanding balance back to the original level and required another £110 payment the next month.. repeat till end of 0% period... Can anyone see any issues with this?

bigglywiggly

I think the balance transfer only applies to the month (anniversary & special offer)...so transfers outside that month will be subject to standard rates.

Egg will deduct the payments you make from the 0% balance first.

Gotabiscuit

kinesin wrote:

Once I've paid the monthly £110, can I just SBT back into the account it came from? This would place the outstanding balance back to the original level and required another £110 payment the next month.. repeat till end of 0% period... Can anyone see any issues with this?

As long as you are in your introductory 0% period (ie you've had your card for less than 12 months) then there's absolutely no problem with it.

Chadsman

Are you in the introductory period or the anniversary offer?
If you are in the intro period you can make as many BTs as you like until the 0% offer expires. :beer:
The only possible downside to this is that Egg may see you as being desperate for money and be reluctant to give you any credit limit increase.

If you are in the anniversary offer period only BTs made in the anniversary month will qualify for 0%. If you make any purchases at any time or BTs outside the anniversary month then the 0% BT will start to get paid off first and you will end up paying interest

HTH,
Chad

kinesin_2

I'm still in the intro period but that runs out 1st Oct.

If looping is going to affect the chance of increasing my limit I might play it safe, hopefullly EGG will up it within the next 3 months so I grab some more to stooze, then start a new CC and mule via the EGG card.

bpyoung

If you want to increase your limit, do it manually from the web site. It's under card services. Or something. I believe asking for £2k increase every week until they refuse you is the way to go. I had more luck with this once my 0% period had ended and I was using my card as a standard pay-off-in-full every month jobbie.

michael19_2

I had a £2000 credit limit on my egg card, then asked for it to be upped to £5k no probs then a few days later asked for £8k again no probs then yesterday £10k and again no probs..I am going for £13k within the next few days.... i wonder when they will say enough is enough

edit >>>got the 13k....15k next!!