Egg Card & Egg Money Question...

chriz1000

I have an Egg Money Card and an Egg Card. Has anyone ever balanced transferred money from there Egg Card to there Egg Money account and then transferred into there bank. I have used Egg Money as a mule card on many occasions, but never in the above scenario.

My only other alternative is to ring up Egg and ask for my Egg card limit to be transferred over to my Egg Money limit! How likely would they be to do this

lisyloo

My only other alternative is to ring up Egg and ask for my Egg card limit to be transferred over to my Egg Money limit! How likely would they be to do this

Not very IMO.
I used to have £15K on my Egg card but could only get £3K on Egg money which was less than I wanted.
They would not increase my Egg money limit and said that it's an entirely different product.
It's a hybrid card and intended to be used differently.

[Deleted User]

chriz1000 wrote: »

My only other alternative is to ring up Egg and ask for my Egg card limit to be transferred over to my Egg Money limit! How likely would they be to do this

When I cancelled my egg card, they moved the entire limit over to egg money at my request; think it was quite unusual though.

chriz1000

They actually did something similar to me a couple of years ago. I was refused an Egg Money card, and when I enquired why they said it was because I was only 20 years old and had over £100k of potential borrowing on cards.

I talked to there referrals, they went through absolutely every debt and credit that I had and looked in depth at my credit report for about an hour while on the phone (I wasn’t earning a bad amount and they had to fully investigate to make sure what I was telling them was correct).
They eventually came back and said I could have an Egg Money card, but they were going to reduce my overall credit limit from £10k to £2.5k. I could choose how much of my limit went on each card.
I said that was fine, and just to put the full £2.5k on the Egg Money card and close my Egg Card, as there wasn’t much point having a credit card with less than £2.5k.
She went away for a couple of minutes, and said since I wanted to close the Egg Card, they were prepared to keep the account open and leave the limit as it was, but it would be reviewed frequently.

YorkshireBoy

chriz1000 wrote: »

I have an Egg Money Card and an Egg Card. Has anyone ever balanced transferred money from there Egg Card to there Egg Money account and then transferred into there bank. I have used Egg Money as a mule card on many occasions, but never in the above scenario.

Firstly, it's forbidden in the T&C's, and secondly, why would you want to do it anyway, since the Egg Card will pay money straight into your current account?

If you're wanting to do it to chase the cashback loophole, I believe it was closed a long time ago.

chriz1000

I didn’t realise you could do SBT from Egg Card?
The other reason is they don’t tend to offer continuous rate deals, so I would be stuck with the whopping 17% interest rate with Egg Card. Has anyone negotiated a better BT rate with retentions?