Moving from OD - 0% CC

SparciaM

I have 2 cc's. Halifax and Egg.

Halifax has a balance on it that I was going to BT to Egg as Egg is 0% (just applied for it), but I also have £1500 OD with HSBC that needs to be cleared soon.

My question is: If I did a cash advance from Halifax to HSBC to clear OD and then used total balance on Halifax to BT to Egg will I get charged more or find out I can't do it? I understand that moving from OD to CC will cost a little interest in time it takes to do it, but once I BT over to Egg it will all be 0% - is this correct or am I missing something?!?

fistfullofdollars

Egg should let you BT direct to a overdraft once you log into your account. I can on mine (just checked). You just put your sort code and account number in and they transfer the amount to that account.

SparciaM

If you BT from Egg do you not have to pay a charge and interest on the BT from day one as it's going to a current account.

I'm waiting on the Egg card, so haven't logged on their site yet to see what can do.

I'm just trying to find the cheapest way to get everything onto the Egg Card at 0%

YorkshireBoy

FFOD is quite correct. Egg's BT's from overdrafts are treated the same as BT's from other cards, ie 0% for (up to) 12 months.

You'll pay a 3% BT fee (but no interest), but the net BT fee paid will be the same as bringing the CC + O/D balance in from your Halifax card.

The saving is you won't pay a cash advance fee or interest to Halifax for settling your HSBC O/D from there.

BTW, you don't need to 'log in' to Egg to "see what you can do". It's explained in section 9 of the Egg Card's T&C's.