Egg Green BT query

aliasojo

Wonder if anyone can clarify? Is the 95% BT limit for new card holders or existing? (Had account for 3 years.)

I see it stipulates this on the site for new applications but I can't see any mention of it when account is actually logged into.

Needless to say, I can't find any paperwork right now and OH (who's account it it, is at work so can't phone at the moment). We can clarify with Egg later, but I'm 'account juggling' on paper just now so it would be useful to have an idea.

I'm sure (I think, lol) our last BT's were for full limit.

TIA

mountainofdebt

Egg seems to have changed the rules for everyone so that everyone can only BT 95% of their limit.

YorkshireBoy

The 95% BT limit rule was hidden away in the Egg Green FAQ section when they introduced it earlier this year, and applies to all accounts, regardless of account age.

There is a "loop-hole" though, but this applies ONLY to accounts opened BEFORE May 1st this year. Once you've done your 95% BT online, you can do a further BT of 95% of your remaining 5% - thereby getting up to around 99% of your limit.*

However, the 95% rule was introduced to make some room for charges for BT fees (post May 1st applicants) and late payments etc, so that these charges, if applied, would not take you over your limit and incur further charges.

NB: The above is my understanding of the T&C's as they were 2 months ago when I last did a 99% 2-stage BT. As always, do your own research.

* As a post May 1st applicant, doing a second BT would incur a second BT fee.

aliasojo

Many thanks, I'll rework my plans slightly now.

mary

Does doing a positive balance transfer also attract a 2% fee?

YorkshireBoy

mary wrote:

Does doing a positive balance transfer also attract a 2% fee?

As a pre-May 1st applicant, I have transferred positive balances FOC. My BT's have been "partial" positives though, in that I've had, say, £1K positive and I've done 2 BT's to take me back to 99% of my limit.

If you're a post-May applicant, then I would "assume" that a straight online BT of a positive balance (to a current account?), taking you back to zero Egg Green balance, WOULD incur the 2% fee. However, if you asked for a BACS transfer, then I don't think they would apply the fee.

If no-one else comes along with further information, you could send Egg a secure message asking them to clarify the situation.

Please feed back any information you gain from Egg.