£15,000 at 0% for 5 months from Egg

t_i_g_e_rr

A couple of things:

I tried to increase my limit as soon as I got my Egg card (£3000 limit to start with). I was refused. However, I will try again now, thanks .

It is possible to put your Egg card into credit with a BT from another card, and I don't think this breaks any of Egg’s terms and conditions. It also doesn't break any terms and conditions to put your current account into credit using your Egg card. However, most other cards have on their terms and conditions that you can only BT "debts" from other cards, therefore, although you likely won't get questioned about it and it will work, technically you could be breaking the T+C’s of the other card (e.g. check how carefully worderd the BT terms and conditionsa are for capital one cards). Worth checking the T+C's if you want to be completely above board.

jonbrett

It is possible to put your Egg card into credit with a BT from another card

Yes, but reading elsewhere on the message boards, I don't think Egg will allow you to transfer more than your credit limit. ie. if you have, say, £3000 borrowing power, they won't allow you to BT more than £3000 even if you are £1000 in credit.

Someone may be able to verify this?

deemy2004

You can balance transfer upto your credit limit

So if your 1k in credit then thats a transfer of upto 4k

Why not do 2 transfers of £2k each.

mary

Thanks to Samantha.

My Egg is finishing Jan 1st, having started with £4K, a couple of months ago I upped it to £6K, and inspired by her success I asked to increase it again two days ago and got £10K (felt I couldn't really ask for £15K, when they ask for your salary, which is only £12K). Okay I've only got it for just over a month, but it's all a bit extra.

Husband started with £6K, then I increased it to £10K, and just now no problems I upped it again to an immediate £15K. His card has a couple more months left to run.

I won't now because of the time factor, but has anyone asked for £20K and got it?

j_dlaw

OK, let me get this right. There are actually 2 reasons to ask for an egg limit increase.

The first is for when the anniversary offer comes around and of course 5 months of the stooze.

The other is when you use the card for the path to your savings account. As you can only BT the limit of the card, it's best to have it as high as possible to maximise the SBT.

I did intend to keep the egg card at a fairly low limit as it's kept at a balance of zero for most of the year. I thought that keeping it low would maximise my ability to get high limit cards from other companies.

So which is best? Egg high or low.

mary

Pass! I don't know the answer, but I guess you can always ask to have the limit lowered when basically you are not going to use the card. Does anyone know if anyone would bother to alter the credit limit on your Experian report?

Margaret_Millne

There is always the slight possibility that if you lower your limit when not using the card, get more cards with high credit limits, then ask to raise your Egg limit again they will do a credit check, see the extra available credit, and refuse to increase it again.

Just a thought, but doing this you may loose out on the higher amount at 5 months 0%.

Anyone any experience of this?

Shinds

Good point j_dlaw...

But IMO I think it's always best to keep a high credit limit with Egg, as it's simply one of or if not THE best card to have for SBT's

Once the anniversary period is over - Just cancel the card, so u can apply for others......

Derek_Duval

Once the anniversary period is over - Just cancel the card, so u can apply for others......

Cancel egg, no way! The anniversary offers are till 2006, & might extend beyond this, & it is the perfect sbt tool.

MarkyMarkD

But I can confirm that you can do as many SBT's with Egg as you like and u won't get charged. Just make sure that u only do this in 0% period

Why??? If you are SBTing and clearing the balance straight away, isn't it free anyway?