Virgin or Egg Money for stoozing

bmr

Hi all,
Next week am about to apply for a new credit card. Have no CC debt and my finance is sound and well . Just looking for card which would lend me £5000+ cash into my bank account so I could stooze by putting it into my high interest paying savings account:cool:.

Which card would you suggest please:rolleyes:.

Sorry beforehand if I offended anyone by such intentions.

Clariman

Egg Money will not lend you any cash to put into your bank account. For a transfer of money to be free, the Egg Money card has to have a positive balance, so its great use to stoozers is as a routing card (or 'mule').

Virgin Money has an uncapped balance transfer fee so it will cost you. Virgin Atlantic has a capped fee, but is a shorter deal. I think you need to do a bit more research before you jump in to stoozing.

Clariman

bmr

Thank you very much. Much appreciated. I listen to you.
I have noted your v informative posts throughout the forums.

sicker

You firstly need an 'egg money' card which will accept positive balances. Next you need to get another card and do a balance transfer to your 'Egg Money' card to put it into a positive balance. This will cost you a percentage for the balance transfer. Lastly you transfer your positive 'Egg Money' balance into a high interest account (I use ICICI). However in the current financial climate the chance of getting a high credit limit to transfer is slim and the balance transfer fee, to my mind, makes stoozing a far less attractive raod to take. As I now say this is a very personal opinion.

John

bmr

Many thanks. I heard you. The picture is getting clearer. Your time and effort duly appreciated.:D

bmr

Finally it is the Egg Money that I seek first next week. Wonderful.