Cards accepting credit balances?

Hi all

Used to do lots of stoozing during the credit binge ... extraordinary times ... but since '08 things went very quiet.

Have now been offered the latest Barclaycard deal (22 months/1.45% fee) which I thought, great ... off we go again. However, I always used to do the first Balance Transfer onto an Egg Money card, and then switch the funds straight from there into a savings account ... but now that avenue doesn't seem to be open (Egg cards bought by Barclaycard).

Then I tried switching the funds through to First Direct card I have so I could just spend down the balance, but they don't accept credit balances so the transfer got rejected. How the playing field has changed!

So question is ... does anyone know a card where a) you can go into credit ... and b) even better, where you can transfer that credit out without being charged a fee? Was the old Egg Money card a real one-off?

Thanks for your help - appreciate it!


  • mrs_T
    mrs_T Forumite Posts: 1,017
    Part of the Furniture 500 Posts Combo Breaker
    Accidently did this while balance transfering from virgin card to new barclaycard and direct debit went through as well, only £50 but virgin returned money to my bank account.

    This may help
  • FiatDino
    FiatDino Forumite Posts: 123
    Part of the Furniture 100 Posts Combo Breaker
    Thanks Mrs. T ... so you're saying that Virgin accepted a credit balance (albeit quite small), and that they let you transfer that to a current a/c without charging a fee? Could you possibly tell me what particular card this was - ie. was it a special one?

    Thanks again!
  • mrs_T
    mrs_T Forumite Posts: 1,017
    Part of the Furniture 500 Posts Combo Breaker
    Virgin standard mastercard. Also have a positive balance on tesco cc caused by balance transfering from barclaycard but haven't tried to get the money out, just going to spend the balance which will earn me tesco points.
  • mrsmumbles
    mrsmumbles Forumite Posts: 89 Forumite
    Hello all
    This is my first ever post!
    I am stoozing for the first time - Sainsbury's card at 0% for 14 months, using it to shop for essentials with, then hitting my mortgage with all the saved wages in linked current account...then I read about these cards which enable you to plonk cash into your current account - have they all gone? Just wanted to confirm what a moneysaver advised an earlier posting member. Any tips welcome!
    " I refuse to allow the banker to be the only one who laughs!":beer:
  • jamesd
    jamesd Forumite Posts: 25,833
    Part of the Furniture 10,000 Posts Name Dropper
    Virgin is best known for this but I've repeat offers on two NatWest cards that allow it at the same cost as a balance transfer from a card, both for 3% fee for twelve months. NatWest's repeat deals improve over time, starting out at higher fee and shorter time period.
    KILOCHARLIE Forumite Posts: 122 Forumite
    I am in the exact same situation as the OP. Barclaycard have offered me a great rate but won't let me transfer to my old egg money card no matter what I said as they are now owned by barclaycard too.

    There must be a card out there that allows positive balances and free withdrawls of that credit amount. I know they rarely state anything like it in the terms, nor do call centre staff know but MSE must know of one I can use! Thanks if anyone can help!!!
    KILOCHARLIE Forumite Posts: 122 Forumite
    Can anyone help us pleeeease?
  • sfax
    sfax Forumite Posts: 1,154 Forumite
    Discussed on this thread. Most banks have AML rules now that prevent credit balances and this kind of behaviour
  • Elljay_2
    Elljay_2 Forumite Posts: 606
    Part of the Furniture Combo Breaker
    I also had a mix up with payments on my Virgin Amex card, the credit balance ended up being £1200, rang up and apologised and they transferred the money to my account with no fees. Not even a verbal slap on the wrist.....I was so relieved!
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