mule card?

babyt_2

As Martin suggested in his card/loans section there is a way to pay off a loan using an egg money card as a mule card to do B.T. My question is if i am not able to get an egg money card is it possible to do a similar transaction with a pre-paid type card (basically pay as u go card)? So use my credit card to B.T. from the pre-paid card and then use the pre-paid card to pay off my loan therefore accruing no fees for doing so? or would my credit card not do a B.T. from the pre-paid card? would appreciate advice. thanks.

bethanyrayne

I don't understand. How can you BT from a card on which you have no NEGATIVE balance?

YorkshireBoy

bethanyrayne wrote: »

I don't understand. How can you BT from a card on which you have no NEGATIVE balance?

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#trick

bethanyrayne

YorkshireBoy wrote: »

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#trick

Thanks but I was asking how the OP can do BT from a Pre Paid card on which he cannot hold a negative balance.

YorkshireBoy

bethanyrayne wrote: »

Thanks but I was asking how the OP can do BT from a Pre Paid card on which he cannot hold a negative balance.

I posted the link to show you the 'principle'.

sociallive

what is a mule card?:mad:

babyt_2

the mule card allows you to put money from b.t credit card to bank account with no fees it is explained in depth with the link yorkshireboy posted. so does anyone no the answer to the original question? lol

CLAPTON

firstly ... the options for topping up prepay cards differ from card to card... I'm afraid you need to read your T&Cs to see whether using another CC is acceptable

secondly... most loans don't allow payment by CC so won't allow payment from a pre pay either.

why not apply for a MBNA card and BT to your bank account?

babyt_2

hi, thanks for that. I've got a virgin credit card so not sure i can get a mbna card. the limit on my virgin card is too low and im sure it charges for purchases. with the pre-pay i could withdraw the cash for free and pay loan in cash.

xSteve_2

virgin is mbna