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Stoozing: Make Free Cash from Credit Cards article discussion
Comments
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Hi YorkshireBoy
The plan was to do the transfer in two amounts of 12k and 9k and from reading the threads Virgin will transfer direct to bank account anyway. From your comment regards reading the article again...have I completely got the wrong end of the stick0 -
The Egg Card is also an SBT card.
Minimum payments will be a good bit less than £400 (around £225) since, whilst Egg is 2%, the Virgin minimum payment is only £25 after the first month's 3% payment has been made. However, you should budget for around £500 for the first pair of minimum payments.
I suggested reading the article again because you'd missed the fact that both cards were SBT cards, and also because you thought you could ring up and ask for a £21K positive balance refunding...and get it!0 -
Thanks for that. If you can put up with responding again what does SBT mean?0
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Super Balance Transfer - a transfer of debt (whether real or ficticious) from a current account to a credit card, by the transfer of money from a credit card to the current account.0
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Many thanks for explanations and patience. I now understand and raring to go.0
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Got a great deal through the post yesterday.
Took out an Abbey card (MBNA) a few years ago to stooze with.
Now Abbey are moving their credit card from MBNA to Santander and have written to me to get me to take out the new card.
They're offering 0% for 9 months with no fee (pretty impressive).
AND if you transfer at least £1000 in the first month they'll send you a cheque for £100!
Needles to say with baby due in a few weeks and pathetic paternity pay costing us dear, I'll be taking up that offer and stoozing the money...0 -
danthemoneysavingman wrote: »Egg card is a pure credit card.
Egg money (aka egg blue) is more like a charge card.
egg money is needed for 'fast' stoozing from credit cards where you can't "transfer money to your bank account [overdraft]"
ulster bank offer a 6mths no balance transfer fee card
capital one currently offer a 0% BT fee 0% card (on their website - thnx YB:D )
if you're not getting it, read the stoozing intro guide again!
check out stoozing dot com too, very useful resource.
I have an Egg Money green card - as I understand it, I am also able to go in the black by BTing to it and transfer the money to my mortgage offset - is this the case, or have I got the wrong card???Thanks
Thanks to MSE, I am mortgage free!
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angelavdavis wrote: »I have an Egg Money green card - as I understand it, I am also able to go in the black by BTing to it and transfer the money to my mortgage offset - is this the case, or have I got the wrong card???
Thanks
The Egg Money card is now green. It used to be called Egg Blue and it was blue. Now it's called Egg Money it is green.
I believe the distrinction is that the standard egg card is a Visa while Egg Money is Mastercard.
If you've got the Egg Money card (whatever colour) rather than the standard Egg Visa then you've got the right card to transfer a positive balance to your mortgage.0 -
I think I understand the difference between Egg card and Egg money, however, having read so many threads about this, I have come to the conclusion that Egg make different offers available to different customers. If what I do is actually called a Super Balance Transfer (switching debt from overdraft to Egg Visa), then I get offered this facility every year at 0% with a transfer fee of 2.5% Current offer is only for 8 months but I'm assuming that it's alright to call them up and ask for longer?I reserve the right not to spend.
The less I spend, the more I can afford.
Frugal living challenge - living on little in 2025 while frugalling towards retirement.0 -
JimmyTheWig wrote: »The Egg Money card is now green. It used to be called Egg Blue and it was blue. Now it's called Egg Money it is green.
I believe the distrinction is that the standard egg card is a Visa while Egg Money is Mastercard.
If you've got the Egg Money card (whatever colour) rather than the standard Egg Visa then you've got the right card to transfer a positive balance to your mortgage.Thanks to MSE, I am mortgage free!
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