Help needed choosing between balance transfer cards

aliensong

Hi there,
I'm self employed and on a modest income of around £13,000 gross. I have an MBNA platinum plus card with £3300 on it, the 0% period is about to end. I have an egg money card with £1700 outstanding and a nasty Lloyds TSB business loan with £1600 left to clear.

I was hoping to shift the balance of the MBNA and the egg money to a new BT card, then use the egg money to clear my loan.

My credit rating is apparently "good" and money supermarket.com came up with the Virgin card and Barclaycard Platinum as good ones to apply for.

I found out from this site that the Virgin card is underwritten by MBNA, so I can't transfer to that. I notice that another good option is the egg credit card. Am I likely to be successful with that given that I already have the egg money card?

I'm really hoping that I can get a credit limit of £5000 so I can let some financial dust settle. Any advice would be greatly appreciated.

Thanks.

CannyJock

aliensong wrote: »

Hi there,
I'm self employed and on a modest income of around £13,000 gross. I have an MBNA platinum plus card with £3300 on it, the 0% period is about to end. I have an egg money card with £1700 outstanding and a nasty Lloyds TSB business loan with £1600 left to clear.

I was hoping to shift the balance of the MBNA and the egg money to a new BT card, then use the egg money to clear my loan.

My credit rating is apparently "good" and money supermarket.com came up with the Virgin card and Barclaycard Platinum as good ones to apply for.

I found out from this site that the Virgin card is underwritten by MBNA, so I can't transfer to that. I notice that another good option is the egg credit card. Am I likely to be successful with that given that I already have the egg money card?

I'm really hoping that I can get a credit limit of £5000 so I can let some financial dust settle. Any advice would be greatly appreciated.

Thanks.

Maybe not ideal, but you could transfer balance from MBNA to Egg Card if youre credit limit with Egg allows it. Could cancel the MBNA card, apply for a Virgin Money card and if successful, transfer from Egg to Virgin. Extra step on the shuffle, but complies with the letter of the T&C's

Suggestion then would be to use the Virgin credit limit to clear your other debts, and then keep the Egg Money card for future 0% balance transfer options.

aliensong

Thanks for the reply.

I don't think your suggestion will work I'm afraid, the limit on my egg card is only £1800. Is it possible to negotiate a higher limit on that?