Cheap Credit Card Loans Discussion Area

Incapuppy

Spam by user name idin reported

star22_2

Hi, I have recently transferred a balance from a store card onto a 0% cc from RBOS.

I would like to borrow 3k for a car, so would it be sensible for me to pay off my RBOS card in full with cash. (I can do this at the mo). Then apply for an Egg card.

Then do another balance transfer from Egg to RBOS for the 3k and pay off my 0% RBOS card?

Do all Egg cards have the abililty to act as a credit card (to enable me to do the balance transfer) AND also let me to transfer the 3k from Egg to my Current Account.

Cheers all.

BadgerMatt

Hi all,

I just thought I would add my experiences to this board. I recently needed to borrow £10k so took out an Egg money card and a Virgin Money card which offers 0% on balance transfers for 15 months (with a 2.98% fee).

I was all primed to follow the instructions - transfer the non-existent £10k balance from the Egg Money card - but in the event I didn't have to. When I rang up Virgin to make the balance transfer they asked me whether I wanted to just transfer the cash into my bank account. I checked that this would be treated exactly the same as a direct balance transfer to another credit card and was assured that it would. Well yes OK I said. So actually I didn't need to use the Egg Money card in the end at all. I hadn't told them that I didn't actually have a credit card debt, they just offered it as another option. And I see that it is also an option online too when I log into my account.

So if you can't or don't want to get an Egg Money card, this MAY (and I emphasise MAY) be an alternative option. But as with all these things you are best off checking before you open your account.

BRAD_2

I've followed the process and got an amount for a new car transferred from 0% Virgin card to the Egg Money card. It's definately Egg Money. The amount is now in my Egg Money account but when I look to move money I can't transfer FROM this card only to it. I've tried to manually add the Egg Money card details to that option but it won't accept it. HELP!

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BadgerMatt

I've followed the process and got an amount for a new car transferred from 0% Virgin card to the Egg Money card. It's definately Egg Money. The amount is now in my Egg Money account but when I look to move money I can't transfer FROM this card only to it. I've tried to manually add the Egg Money card details to that option but it won't accept it. HELP!

Brad, you need to call them or send them a secure online message asking them to transfer the money. It's hidden away in one of the help sections.

samleec1

spf wrote: »

According to my maths this technique is nearer to a loan equivalent of more than 6.4% not 2.9% as stated. For example on a 10,000 loan the balance transfer cost is £290. However as this is on the full ammount, rather than a reducing ammount (as a loan would be) then a loan of 5.3% would yield the same cost of £290 over the 12 months. Additionally, most cards operate a negative payment heirarchy and charge interest on the transfer fee raising the cost by another typically £46 over the year (16% typical APR on £290). Also as this £290 is paid up front, it looses interest that it could attract by being left in a current or savings account, pushing the total cost to nearly £350, which is approximately equivalent to a loan of 6.4% (calculated from the tool on http://www.moneymadeclear.fsa.gov.uk/tools.aspx?Tool=loan_calculator) Or am I missing something?

Have you looked at personalhomeloansuk.com This Company introduces people who want to lend with those who want to borrow and at very attractive rates with no charges for early payment etc.

Thanks

Regards

rallyeshawn

Hi everyone

I'm a forum virgin, so please be gentle...;)

When reading through the process of securing a low interest credit card loan by using a mule card (eggmoney) and a low life BT card, i am unsure of what to do. I fully understand the process, that's quite straightforward, however, i already have a barcleycard, therefore leaving me with only one option, the citibank card.

When looking through the small print, which i did prior to attempting to obtain the said funds, it came to my attention that the eggmoney card is also part of the citi group. As both the eggmoney card and the citibank card both come under the same umbrella, does this make any BT impossible?

Can someone please reassure me that this isn't the case???

Regards

Shawn

Lynzers51

Hi there,

I recently applied for an Egg Loan and have been refused. I subsequently sent a letter with my last 2 credit scores-both over 900- so classed as 'good' and 'excellent' but apparently that won't help!? Egg already knew this when deciding on the loan.

I called today and asked why I was refused and they said they could not tell me definately as it is a standard, computer based decision etc.

I have applied for a loan and a mobile phone contract in the last 6 months - Loan was refused and phone was accepted, but apart from that, I'd say my credit is good.

What can I do?!

Thanks,
Lyndsey

bangwhosnext

samleec1 wrote: »

Have you looked at personalhomeloansuk.com This Company introduces people who want to lend with those who want to borrow and at very attractive rates with no charges for early payment etc.

Thanks

Regards

^^^

This guy is spamming. Just look at his previous posts. Please someone have him banned. :mad:

pisciesgirl

First time post for me! My daughter (28in March) wants to do a nine month Make-up course costing an incredible amount of 12,000 pounds. I do not have the finances to help her unfortunately. She banks with the COOP. Can anyone suggest the cheapest way (if there is one) of doing this please? There is a CDL loan apparently (career development loan) which allows you to borrow up to 8,000 pounds but I don't know too much about that. The last thing I want is for her to end up in debt and be unable to pay it off.