Cahoot flex loan - bt options?

corsanita

I'm quite sure this has been discussed before, but for the life of me I'm having no luck with the search facility!

Cahoot ever so kindly hiked my interest rate from 6.9% to 14.9% a few weeks ago. I got the &more credit card, but have just discovered I can't BT this flex loan onto it. Should have checked first...isn't hindsight wonderful!??

So what are my options? I can only transfer a store card or credit card onto it.

As I see it, my options are limited to withdrawing cash on CC2 paying in into my current account then transferring it to Cahoot and then BT the CC2 balance across to &more? This is probematic as there is still £350 on CC2 card that will be on it that won't be paid for another few months, thus wouldn't I be paying the higher cash-withdrawal interest rate on it until it was paid off?

Thanks in advance.

CLAPTON

what is CC2?

If its a MBNA or EGGmoney or one or two others you can BT to your current a/c ...so although you may pay a BT fee you wouldn't be paying cash withdrawal rates and then you could pay off the loan from your current a/c.

If you have a EGGMONEY card (everyone should have one) its even better .. because the eggmoney allows you to be in credit on the card and then BT to your current a/c for free.
Start with eggmoney have zero balance.
you could BT from eggmoney to M&S, so M&S will now be in debit and eggmoney in credit (maybe BT fee?).
then transfer eggmoney to current a/c (free) then pay off the loan.

corsanita

CC2 is Amex. I've got 6 months to transfer balances onto the &more card to take advantage of the 4.9% LoB, so it's not a major panic - yet!

Will take a look at this egg money thing though. Seems complicated, but beneficial! Thank you.

CLAPTON

just be sure its the eggmoney card and not their confusingly called egg card.