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Egg Money advantage?

Tipco_2
Posts: 1 Newbie
My first post so excuse me if I'm a bit thick!
I don't see the advantage of raising a cash loan using Egg Money card as a 'mule'.
It seems to me that you still pay a balance transfer fee to get money onto the Egg Money card. Surely roughly the same fee applys if you transfer from an Egg or Post Office Credit Card, direct to Bank account?
I don't see the advantage of raising a cash loan using Egg Money card as a 'mule'.
It seems to me that you still pay a balance transfer fee to get money onto the Egg Money card. Surely roughly the same fee applys if you transfer from an Egg or Post Office Credit Card, direct to Bank account?

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Not all cards will transfer direct to a current account though, hence using the Egg Money as a mule.0
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and then egg don't charge BT fees if you're in credit.Apparently I'm 10 years old on MSE. Happy birthday to me...etc0
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I reiterate the other replies
From my knowledge the only 3 cards you can transfer direct to current accounts are:
Egg Money
Virgin Money (run by MBNA)
MBNA
but Egg also pays in credit interest for positive balances and cashback on all purchases, so its worth having this card
Another thing is if you use the egg card you can keep 'channeling' funds through it, therefore you can get as many cards as you like and bt them as you wish (providing you follow the unwritten stoozing rules
of not applying for too much credit at once)
.....your lucky about 1000 people havnt replied singing Eggs praises! the Egg card was the first of its kind and still is market leadingINCREASE INTEREST ON SAVINGS!
...I will thank you if youve been helpful, please do the same! :j0 -
YorkshireBoy wrote: »They don't charge any fees if you have (or will create) a negative balance with your transfer either. However, they will charge interest (from day one) if your transfer creates, or increases, a negative balance.
Just another point I agree completely with Yorkshire boy. From my understanding the APR on an Egg card is 7.9% (if you are accepted for this rate) which is very very low for a credit card, so even if you did have to transfer creating a negative balance it is the best card to do it withINCREASE INTEREST ON SAVINGS!
...I will thank you if youve been helpful, please do the same! :j0
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