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Barclays as a mule
Dibbler
Posts: 7 Forumite
Hi All,
Long time stoozer, not much of a poster :-)
Current stooze pot is 30k against my offset mortgage which is now saving me 60-70 in interest each month - over 2k since this mortgage started.
I haven't been using BT cards via a mule for a very long time (still missing Egg)... I've seen people do this with Virgin and MBNA on these boards recently though.
I closed my Virgin card a few months ago with a plan to re-apply in another few months (right now they don't want to know me). *But*I have a Barclays card that I use as a backup spending card when everything else is maxxed. Does anyone have any experience of using barclays to go into a +ve balance and if they will then transfer to a bank account?
Cheers,
Dibbler
Long time stoozer, not much of a poster :-)
Current stooze pot is 30k against my offset mortgage which is now saving me 60-70 in interest each month - over 2k since this mortgage started.
I haven't been using BT cards via a mule for a very long time (still missing Egg)... I've seen people do this with Virgin and MBNA on these boards recently though.
I closed my Virgin card a few months ago with a plan to re-apply in another few months (right now they don't want to know me). *But*I have a Barclays card that I use as a backup spending card when everything else is maxxed. Does anyone have any experience of using barclays to go into a +ve balance and if they will then transfer to a bank account?
Cheers,
Dibbler
0
Comments
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Alternatively, I also have a post office card - anyone tried them with a +ve balance?0
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Have successfully done this with Barclaycard a few times but not for a few years. No problems getting positive balances refunded via secure messaging.0
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Don't tell the bank you want to open a mule account. In banking, this term is used to describe accounts used to launder the proceeds of crime!0
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Cheers, I already have the Barclays card, was just looking for anyone that might have tried using it with a +ve balance.0
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Barclays sometimes do low fee money transfer offers.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 29/7/250 -
Hi,
An update to close the thread - used Barclays as a mule just fine.
There was a slight issue with transferring the positive balance over to by bank account as the first of my bank accounts they tried wouldn't work for some reason. I tried with a second account (same phone call) and all went well. BUT... for my 'inconvenience' they gave me £25. :-)0 -
I will be trying this with my BC... just to understand was your amounts in the hundreds or thousands?0
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Hi,
It was in the thousands - and they just did it again...0 -
I have intention to redesignate (if possible) my Barclays platinum to Barclays Platinum Travel.
I am aware that Barclay Platinum could be used as a mule card. What about Is Barclays Platinum Travel could they also be used as a mule card in the same way with old Barclay Platinum ?
What are the advantages and disadvantages of doing this ?
Thanks0
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