Nice One Egg

Margaret_Millne

Hubby used his Egg card as a mule to get some 0% cash to our current account - paying it off within days. When we checked the statement this was charged at 1.9% APR - we have had no email notifying us of this rate.

A couple of emails later it transpires that this rate is available for March, until 1st August - the same as many others have been offered. Had we not noticed this we would have missed it.

£15k now being used to reduce other credit card balances, and in July we will have his 0% 5 months deal to continue with. I wonder how many other people have missed this, as it was not the normal anniversary offer.

Milarky

In general: If you do any balance transfer to Egg - including dummy ones - these will state the monthly percentage rate on the statemented transactions - but not on the 'recent' transactions it seems. So as Margeret found it a useful guide.

No_6

Egg give these offers ie ' 1.9% to Aug '
or just past your anniversary date !!!
so if you use it and do not clear your balance before the end of June
** July being your anniversary date **
you will not be in a position to take advantage of your 0% anniversary
balance transfer.
No 6

Margaret_Millne

Yes, we are aware of this, and will be clearing the balance in the last week of June, ready to take the 0% on 1st July.

funkymonkey

yes egg did this to me in february offering me 1.9% till end of july when my anniversary was in march! cheeky buggers!

Margaret_Millne

It appears most people are getting the offer about 4 months before their anniversary - presumeably they hope you will forget the 5th month is your anniversary and miss it.

Innys

I'm sorry, but can you lot explain this in plain English? I have no idea what you mean. I am aware of the 0% BT offer and the 0% anniversary offer, but how does that fit in with what you're talking about?

Thanks

Margaret_Millne

Egg seem to have started offering people low balance transfer deals about 4 months before their anniversary month. All of our family have had them, 3 of us at 1.9% (albeit Egg forgot to mention it to my husband, hence this thread), and the only offered my daughter 3.9%.

The secret is to take the offer, being careful to note that you need to pay it off before your anniversary date, then also take the 5 months on offer at 0% for your anniversary.

This way you end up with 9 months at negligible interest, and only have to pay the full whack for 3 months. Saves having to switch cards, with all the credit searches that entails.

Is that plain enough English for you? I think I have explained it as best I can.