Cards - which order to apply?

YorkshireBoy

In an attempt to maximise our initial stoozing profits, both my wife and I plan to each apply for 3 cards. The plan is for us each to hold Capital One 18 months, Virgin 9 months, and an Egg card each.

Myself
I've been accepted for both Virgin (already SBT'd £9.5K to current account), and Egg (with a healthy initial £7.5K limit being reviewed at the moment but not signed up yet). I'm just waiting a short while before returning my paper application for Capital One 18 months.

Mrs YB
She's been accepted for the 18 month deal (from the link on this site), but has not yet signed and sent back her form as nowhere to BT it to! (I know but it was too good an opportunity to miss!).

I had developed the strategy that we would stagger our Egg cards 6 months apart, so that with 2 anniversary offers, we would be covered with an active Egg card for the next 18 months for future stoozing. Sadly, I can't remember much of the logic behind this strategy now!

So, the question...

Does my wife go for the Egg card now, or go straight for the Virgin 9 months offer and delay the Egg until October when my initial 6 months is up?

Alternatively, could she BT from my Egg card once I've SBT'd my limit? I could then SBT her Capital One limit through my Egg to the current account.

Sorry its so long, and thanks for bearing with me

YB

realaledrinker

Nothing to stop her BTing to your Virgin and/or egg cards, you then do another SBT on each to take your balance back up to the maximum.

steveb1967

Hello Yorkshire Boy
from my experiance you can keep SBT-ing through one card, the trick is getting the money out in the first place, once you have done this you only have to get a card with a 0% BT and then switch and ditch.
There is a big list of BT fee free on the credit card forum.
all the best
steve b
you can even BT a positive balance onto your SBT card and transfer the whole lot into your current account, I did this with MINT card but they got a bit shirty the 3rd time I did it, but they did not charge me anything and since the 0% was up I cancelled it.

YorkshireBoy

Thanks all for your help so far.

steveb1967 wrote:

you can even BT a positive balance onto your SBT card and transfer the whole lot into your current account, I did this with MINT card but they got a bit shirty the 3rd time I did it, but they did not charge me anything and since the 0% was up I cancelled it.

With respect to positive (credit) balances on Egg (and SBT'ing these to our current account), for example, is this only during the initial 6 months 0% and the anniversary period, or at any time? ie after October 1st 0% expiry can we BT a positive credit to Egg and carry out a fee-free SBT of the identical amount to the current account?

Also, is there any benefit to delaying Mrs YB's Egg application (that would out-weigh the benefits of us spreading the SBT activity now - ie having 2 Virgin and two Egg cards between us)?

Thanks again
YB

Reaper

YorkshireBoy wrote:

With respect to positive (credit) balances on Egg (and SBT'ing these to our current account), for example, is this only during the initial 6 months 0% and the anniversary period, or at any time?

You can do it anytime except months 2-5 of your anniversary offer. Your card needs to be left alone at that time. For that reason you might want to stagger her application. If you prefer not to wait then apply for an Egg Blue card as your anniversary approaches to pass the money through instead.

YorkshireBoy

Reaper wrote:

You can do it anytime except months 2-5 of your anniversary offer. Your card needs to be left alone at that time. For that reason you might want to stagger her application. If you prefer not to wait then apply for an Egg Blue card as your anniversary approaches to pass the money through instead.

Thanks Reaper. I'd thought everything was going well but I'm going to have to read through the T & C's again because I'd completely missed the "months 2-5" thing you mention.

Reaper

The reason is that only BTs done in the anniversary month are at 0% for 5 months. That means that if you pass, say, £1000 through the card in month 2 you have paid some of it off early. If you then BT that £1000 back on it is too late and you will be charged interest on it.

This does not apply to the introductory offer which gives 0% for money BTed throughout the period.