applying for SBT accounts-Abbey & Egg

blue-kat

I've been reading up the articles on Super balance transfers and we are considering applying for Abbey and Egg cc's.

Partner has had nice clean account with Abbey for 20 + years... would this be a positive influence on cc application?

thanks!
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blue-kat

Rafter

blue-kat

Egg is not as attractive any more as a result of a balance transfer fee during the introductory offer period.

Abbey is administered by MBNA and as far as I know their limit decision will be independent from your existing relationship with Abbey, although a clean credit record won't do you any harm.

You are probably better off applying for a Virgin card though which has no balance transfer fee during the introductory period (this is also administered by MBNA)

Good luck.

Rafter

blue-kat

Hi Rafter,
thanks!

t+c of virgin card:
2% handling fee (min. £2, max. £35) for credit card cheques and some balance transfers.

but it doesn't say which balance transfers will attract this fee :-(

egg - charge 2% ( up to max of £50)

abbey balance transfer fee - also2% ( up to max of £35)
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blue-kat

fatboyonadiet

Think Virgin don't charge on your first one

Bargain_Rzl

The (recent) word on this site is that Virgin still do not charge anytime during the intitial 9 month period. Please correct me if I'm wrong. To my knowledge this is by far the best SBT deal available.

Am planning to apply for one myself late next month, assuming the T&Cs do not change in the meantime. The intention is to move a £5k stooze off Egg by 1st September deadline, use the Virgin card as a mule until my Egg anniversary comes around again next March, then transfer some debt back to Egg.

(I'm planning to use my Egg card for purchases during the non-anniversary period, paying off in full every month, in the hope of a credit limit increase before my anniversary.)

blue-kat

Hi Bargain
thanks.
I've submitted online application to Virgin, hope it's not too long for application to be processed.

it's pretty scarey going into planned debt ( but needs must to get the house!) when have worked really hard to be 'good' with money, and no overdrafts or red bills, pay cc monthly, after making a right hash of it my youth.

good luck with your money shifting, clever stuff. It's all rather over my head, but I'm impressed !
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blue-kat

Cryogenic

Hi Blue-Kat,

I have recently (yesterday) made a SBT ( 95% of credit limit) from a new virgin card for which I am not paying a fee. The virgin rep. in the balance transfer department confirmed that balance transfers / SBT would be free during the 9 month interest free period.

Cryogenic

blue-kat

thanks Cryogenic - good to know !
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blue-kat

wywywywy

Hi,

Amazon Mastercard also didn't charge me a fee.
In their letter, they say that they MIGHT charge a 2-pound fee for balance transfer within the introductory period (otherwise 2%), but they didn't charge me at all.

Card is managed by Halifax.