Using Egg as a "Muling" Card

jeeves_2

could someone please just shed some light on this.....its probably already been entered somewhere but i couldn't find it. so i apologise in advance.
i've had an egg card for ages now, and currently used my anniversary offer to trf to my current account fee free.
i have just been offered a halifax one card with 9 months bal trf for free, can i transfer these to my egg and then trf the funds to my bank account fee free or will egg charge me a fee for doing this?

thanks

Jeeves

Rafter

Jeeves,

Balance transfers are still free with Egg except during the initial introductory offers on new Egg cards.

I'm not sure however if you will lose your anniversary offer if you use Egg as a mule during the anniversary offer period. Maybe someone else can shed some light on this.

R.

jeeves_2

[.

I'm not sure however if you will lose your anniversary offer if you use Egg as a mule during the anniversary offer period. Maybe someone else can shed some light on this.


Hi,
u saying that i will possibly lose the 0% trf?

fatboyonadiet

As long as you've had your card since before May you won't be charged. Are you in your 0% now? If so you should only do a BT in the 1st month, otherwise you will get some interest charges, think I've got that right - someone will correct me if not!!!

Clariman

jeeves wrote:

could someone please just shed some light on this.....its probably already been entered somewhere but i couldn't find it. so i apologise in advance.
i've had an egg card for ages now, and currently used my anniversary offer to trf to my current account fee free.
i have just been offered a halifax one card with 9 months bal trf for free, can i transfer these to my egg and then trf the funds to my bank account fee free or will egg charge me a fee for doing this?

If you are still in your anniversary month then you should be able to do it but you will need to move quickly to do so because it is a 2 stage process (BT from Egg to Halifax, then BT from bank to Egg again). If you are outside your anniversary month then you probably can't do it because you couldn't do the Bank to Egg BT on a 0% basis.

Clariman

jeeves_2

just checked with Egg, and you were correct...just in case anyone else is thinking the same this is what they said:

"Please be assured that you won't be charge a transfer fee for applying balance transfers to your Egg Card. Any balance transfers applied to your account at the moment will be charged at our standard rate of 14.9% APR typical variable.

Your interest free period on balances transferred to your account during April, your 'anniversary' month will end on the 1st September 2005.

After this time the interest rate will revert back to our standard rate of 14.9% APR typical variable. "

not quite sure how to utilise the Hfx One card now....

Clariman

jeeves wrote:

"Please be assured that you won't be charge a transfer fee for applying balance transfers to your Egg Card. Any balance transfers applied to your account at the moment will be charged at our standard rate of 14.9% APR typical variable.

Your interest free period on balances transferred to your account during April, your 'anniversary' month will end on the 1st September 2005.

After this time the interest rate will revert back to our standard rate of 14.9% APR typical variable. "

not quite sure how to utilise the Hfx One card now....

That sounds like you are still in the initial 0% period on the Egg card. Right ? If so, then you are laughing. You currently have a balance on the Egg card. Ask Halifax to do a BT from Egg to Halifax. Then ask Egg to do another BT from your bank to Egg. Voila - you've done it.

For a step-by-step description with diagrams, see
http://www.stoozing.com/full.htm

Clariman

jeeves_2

Clariman....
yep i am still in my int free period and i do have a balnce on the egg card...current balance is approx 3.5K, limit of 4k. Halifax limit of 4k of which i have already used 2k to clear another card which leaves me with 2k to play with on the halifax card.
"Any balance transfers applied to your account at the moment will be charged at our standard rate of 14.9% APR typical variable"

sorry to sound stupid but does the above not suggest that if i do another bal trf it will be charged at 14.9%?

Clariman

jeeves wrote:

Clariman....
yep i am still in my int free period and i do have a balnce on the egg card...current balance is approx 3.5K, limit of 4k. Halifax limit of 4k of which i have already used 2k to clear another card which leaves me with 2k to play with on the halifax card.
"Any balance transfers applied to your account at the moment will be charged at our standard rate of 14.9% APR typical variable"

sorry to sound stupid but does the above not suggest that if i do another bal trf it will be charged at 14.9%?

No, you are not being stupid. I may have read your last post in too much haste. The Egg comments seem to be a bit puzzling or possibly contradictory or maybe I have misunderstood your situation. Here are some questions to ask them (or if you already know the answer you are OK).

1. Does you Egg card have an introductory 0% offer on Balance Transfers ?

2. Are you still in that introductory 0% period (normally 6 months or so) ? If you are then any additional BTs should also be at 0%, so you can do what I outlined above. Phone Egg up and confirm that you are still in the initial introductory period, that you will still get 0% on BT and that there will be no BT fee.

3. Has your intro period been and gone ? If so you will be charged the normal interest rate on balance transfers unless you are in your anniversary month.

4. Has your intro period been and gone but you are in the anniversary month ? If so you could do what I outlined above as long as you did it quickly i.e.before the end of the anniversary month.

Clariman

jeeves_2

Clariman.....
thanks again for all that...
i think i will ring them and find out exactly what i can or cant do.....
will let u know:)

YorkshireBoy

There may have been a misunderstanding here...

The OP's anniversary month was April. BT's made IN THIS MONTH ONLY qualify for 0%. This is why the standard rate of 14.9% will apply for any BT's made from now until September 1st (the expiry date of the 5 month offer).