Egg Green Card "SuperBT" into Account?

jay78

Egg have offered me a special BT offer of 1.9% apr till 6 September (with a 2.9% fee). Now going into the transfer section on the website, it says I can transfer money into a current account/overdraft. Now I don't have an overdraft. I would just like the cash at 1.9%. Has anyone done this? There isn't anything in the T&C's to suggest that I would be charged the normal cash advance fee, but I just want to make sure.

Regards.

marvin

jay78 wrote: »

Egg have offered me a special BT offer of 1.9% apr till 6 September (with a 2.9% fee). Now going into the transfer section on the website, it says I can transfer money into a current account/overdraft. Now I don't have an overdraft. I would just like the cash at 1.9%. Has anyone done this? There isn't anything in the T&C's to suggest that I would be charged the normal cash advance fee, but I just want to make sure.

Regards.

Not read these forums much then?

This is known a a super balance transfer and is often used by many on here (including me).

Its not 1.9% due to the upfront fee.

CannyJock

jay78 wrote: »

Egg have offered me a special BT offer of 1.9% apr till 6 September (with a 2.9% fee). Now going into the transfer section on the website, it says I can transfer money into a current account/overdraft. Now I don't have an overdraft. I would just like the cash at 1.9%. Has anyone done this? There isn't anything in the T&C's to suggest that I would be charged the normal cash advance fee, but I just want to make sure.

Regards.

Nothing to prevent you doing this, but it's over quite a short period.

So if you put £ 1000 into your current account (to clear an "overdraft"), it'll be £ 1029 on your Egg account and you'll be charged 1.9% on that till basically end of August - and then it'll jump up to their standard rate no doubt.

That's assuming it's not at the cash withdrawal rate like you say - only way to be sure is to call their customer services and ask them to confirm.

If you're looking for low cost money though, there are better 0% offers out there just now.

jay78

marvin wrote: »

Not read these forums much then?

This is known a a super balance transfer and is often used by many on here (including me).

Its not 1.9% due to the upfront fee.

Marvin, I know it's a super balance transfer, hence putting SuperBT into the title of the thread.

And yes I know it's not just 1.9%, did you not see that I mentioned the fee? Didn't read my post properly obviously!

Cannyjock, this is a 'repeat offer'. I know it's only for a short time. But I figure that it's cheaper than the 19.9% I am currently paying on the balance of my Barclaycard.

As for 0% deals, I am saving my searches for those when I need them.

Thanks.

YorkshireBoy

jay78 wrote: »

But I figure that it's cheaper than the 19.9% I am currently paying on the balance of my Barclaycard.

Why do you want cash? Shouldn't you be BT'ing straight from Barclaycard?

I make it around 7.7% APR (but I'm no mathematician ) so yes, it would be cheaper though.

What's your 'go to' rate on Egg once the special rate expires? Also, I assume you have a zero balance on Egg at the moment? If not, be mindful of the 'order of payment' trap.

jay78

I want cash to buy something I would have bought with my Egg card at 17.9% (which is at zero balance), I have already bt'd the Barclaycard balance over. A 7.7% apr will tied me over 'til I'm ready to apply for a 0% credit card. Thanks.