stoozing with icic hisave

Hi everyone,

I have been reading up on a few articles like the credit card tart and stoozing and was hoping somebody could let me know if it would be worth it to use the egg card trick to put money into an icic HIsavings account for a year before the 0% balance transfer runs out on the credit card( i havent chosen a credit card yet,still checking up on all your recommendations).Im quite good with numbers and figures,i just want to make sure i choose the right thing and you lot know what your on about!
many thanks.
Jut69:confused:

Replies

  • Yes that is a good idea, keep an eye on what the best savings account available is though, http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

    Keep an eye on the winning account AND the specialist alternatives.

    Alliance and Leicester's Direct Saver is showing 6.1% awaiting update on the rate, if this rises it could go over ICICI (make sure if you do use that account when you do withdraw the money it is right at the start of the month and you withdraw it all though)
    If you don't like what I say slap me around with a large trout and PM me to tell me why.

    If you do like it please hit the thanks button.
  • riad_2riad_2 Forumite
    184 Posts
    I might be mistaken but I thought I might have read it somewhere... are balance transfers to pay off overdrafts on the Egg Card FEE FREE? Or do they still incurr the 3% fee?

    Regarding the 3% bal transfer fee on the Egg Card, is this added onto the balance transfer, or is it considered a purchase? (as if it's considered a purchase, that added fee is only going to be 0% for 3 months).
  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    riad wrote: »
    I might be mistaken but I thought I might have read it somewhere... are balance transfers to pay off overdrafts on the Egg Card FEE FREE? Or do they still incurr the 3% fee?
    The Egg Card doesn't distinguish between overdrafts, loans, or standard card BT's. They're all subject to a 3% BT fee during the introductory period (and 2.5% during the anniversary month).
    Regarding the 3% bal transfer fee on the Egg Card, is this added onto the balance transfer, or is it considered a purchase? (as if it's considered a purchase, that added fee is only going to be 0% for 3 months).
    It's classed as a purchase, and so attracts interest from month 4 onwards. However, as I've said before, if you're worried about the amount (and it will be small) your stoozing margins are too tight!
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