Help please - need to BT but problems...

sashanut

Hi all

Hope someone can answer this question for me - I have an Egg card with a large balance (£12000+:eek: ) - but my anniv offer of 0% till Nov 08 + 2.5% fee is available for me this month. I've tried to do this before but failed, I understand basically I have to shift ALL this debt elsewhere so I have a 0 balance & then I can move it back on, therefore taking advantage of the 0% till Nov. Trouble is whilst a have a few CCs, none of them have that much space; so yesterday I moved £5000 onto one of them. (lloyds cc) They did ask me if I had an 'offer letter' - I did actually have an out-of-date one so quoted that, the guy then quoted me a different rate - I didn't care about the rate really , since I knew I would not be leaving it there for very long.

Then I tried with my M&S card, to which i could shift another biggish chunk of around £4000. I got through to customer services, but it was a foreign person who I could barely hear. However, we did get through the security checks; but when I asked her for a BT, she said 'there are no offers on your account at the moment'. I said, well I just want to BT onto this card & she repeated the same phrase, again her voice was very faint but if I understand this correctl, although there is a lot of space on the card, unless you actually have 'an offer' you can't BT? Is this the case does anyone know please? I am a bit desperate because I know the time these BTs take & want to get it done before the end of June when the deadline is....

Any help/advice would be appreciated, I can call them again & hope to get a different person but I was counting on being able to shift this debt, albeit temporarily, onto the M&S. The other card we have a lot of space on is unfortunately also an EGG card!!! :mad:

YorkshireBoy

sashanut wrote: »

The other card we have a lot of space on is unfortunately also an EGG card!!! :mad:

Egg will allow you to BT an overdraft (ie send cash to your current account) to their cards. Pay off your other Egg Card from your current account.

Then bring all your debt back to the Egg Card (with the anniversary offer on it) with another BT from your current account or BT's from your other cards.

Job's a good 'un.

sashanut

Thanks very much for that YB - I didn't know that you could BT to a current account! Not sure I perfectly understand though: the DH's egg card owes £1570.17 & the C/L is £8800. I need to now get rid of £7618.58 from my egg, could you just explain what I need to do? Sorry for being so financially dim; you can see why I am in such a state can't you?