Advice needed on one of Martin's Egg Card Tips!

sparklesunblast

Hi there.

I'm completely new to this whole money saving thing and I'm totally addicted! I've just followed Martin's advice on turning a high interest loan into a M&S low interest rate credit debt, by using an Egg card as an intermediary.

I have completed step one, so my debt of £2000 is showing on my M&S card, but the £2000 credit isn't yet showing on the Egg card. And I still have the original £2000 debt from the loan!

Has anyone succesfully carried out this tip? And if so how long does it take for the Egg card to get credited? I'm just a bit worried that I'll be stuck with a £2000 debt on the M&S card AND a £2000 loan, but nothing on the Egg card to pay the loan off with!

I hope that question makes sense to someone out there!

YorkshireBoy

The BT will take anywhere between 3 and 10 working days in my experience, but don't forget the BACS system has had a glitch this week.

Don't worry about having two lots of debt. It'll be at least a month, and possibly a lot longer before you need to make your first 3% M&S minimum payment - by which time you'll have settled the loan.

BTW, you talk of the Egg Card. I assume you mean the Egg Money card?

sparklesunblast

Thanks so much for answering... but oh no!! I applied and received the egg card. Does that mean it won't work? Is there anyway of correcting it so that it's an egg money card?