Mules and ?

cronshd

As a newbie, can I just check my understanding of the terminology?

A 'mule' is a credit card with a 0% balance transfer (BT) facility which I might use when an SBT I have made is about to expire.

This could then revolve around several mules over the next few years.

Is there a corresponding term for the 'supermules' (racehorses?) which facilitate the SBTs in the first place (ie the Virgins and Eggs of this world)?

Regards, C.

realaledrinker

egg is the mule as it is used to carry the money from non-SBT card to current/savings account.

If you make a mistake & get charged for a late payment then you are known as an '!!!!!!'. (Sorry, made that last bit up but I quite like it!)

lemongirl

some analogies work....some dont...some are just funny!

cronshd

:beer: That made me laugh RealAleDrinker.

Is there a distinction between BT cards which allow transfer into a current account (and at no fee - eg. Virgin, Egg) - and the plethora of cards which enable 0% BT - but not into a current account?

Reaper

Yes, here is a summary of the terms used round here:

BT - balance transfer between one card and another
SBT - (super balance transfer) BT money to your bank account
mule - when a card does not allow an SBT you can BT money via "mule" card which does
stooze - borrow money from 0% credit cards and place it in a savings account