'Egg Money' Loan Balance transfer problem...

fatnek

I followed martin's advice to help lower my APR on my EGG Loan.

Basically, apply for Citibank Credit Card, then get Egg Money Card and do the switch thing...

i find out if i am accepted for my Citibank Credit Card tomorrow, but in the meantime i have been turned down for an Egg Money card (due to my situation with Egg).

In other words, i might have a low interest balance transfer card, without a balance to transfer!!!!!

Is there any other way i can get money off the card ?

I dont have anyother Credit Card balances!

Can you transfer an Overdraft?????

Im sure i;ve done that before, years ago.

fatnek

^does that make sense?

windswept

If citibank allow balance transfers direct to your bank account, as Virgin money do, then that is a way around it , allowing you to clear your egg loan.

CLAPTON

I doubt it would have worked anyway as Egg is now part of Citibank and banks dont usually allow BTs beween their own cards.

ben.bayliss

Do you have a trustworthy colleague / friend / relative?

If so, get them to clear the balance on their credit card. Do the balance transfer onto their card and have them call the bank to say they overpaid by accident. Their card company should then allow them to transfer their credit balance back to their bank account, which they can then in turn pass on to you.

YorkshireBoy

CLAPTON wrote: »

I doubt it would have worked anyway as Egg is now part of Citibank and banks dont usually allow BTs beween their own cards.

I BT'd from Egg Money to a Citi card last October...6 months after Egg's sale to Citi. I seem to recall others have done the same fairly recently.

ben.bayliss wrote:

Do the balance transfer onto their card and have them call the bank to say they overpaid by accident. Their card company should then allow them to transfer their credit balance back to their bank account, which they can then in turn pass on to you.

"Should"? This could be very dangerous and also very expensive. Dangerous in that a large positive balance on many cards means an AML investigation, and expensive in that the other card may insist on sending the money back to Citi meaning you've paid Citi a BT fee for nothing!

fatnek wrote:

I dont have anyother Credit Card balances!

...but do you have any other credit cards, especially Egg, MBNA, or Mint...and if so, are their credit limits larger than the loan you wish to transfer?

fatnek

thanks for the advice peops.

still havent heard from citibank, maybe they forgot about me after all!!!!