Credit Card Transfer problem

daveashy

Hi,

I have an Egg loan and a Barclaycard credit card. The loan has £3600 (@ 7.66%) left and the CC has £5900 (£1650 @ 2.9% and £4250 @ 6.9%) so compaired to some people that isn't too bad...

The loan requires £78 a month and the CC requires £135 but it drops a bit each month due to minimum payment being made.

Here's the problem... I need to reduce my outgoings each month due to a probably unavoidable reason that we don't need to into here.

Last year I did a transfer by phoning Barclaycard and they paid money into my bank account and I paid off another loan - hence the 4250 at the higher but OK rate.

I thought I might do this again to get rid of the Egg loan as I still have space on the card and can let the minimum payment drop a bit more over the next six months or so and therefore gain some breathing space.

I spoke to one operator and he said yes they were doing a deal and what the rates were etc.

I went away to think about it and then phoned back only to be told they could ONLY pay off another credit card, despite me saying that they had done this last year!
Anyhow... I am wondering if anyone has any ideas how to organise this?

I thought about getting a positive balance on a card and then cash advancing that but after a friendly chat with an operator after checking with a more senior person suggested that was fraud and almost hung up on me :-(

I also wondered about getting a cash advance out on a different card (paying some instant interest I know) and then getting them to pay off that card, whilst I use the cash to pay off the loan.

I even thought of maybe getting a friend to spend on their card and then me paying off THEIR card but I haven't checked to see if you can only transfer to a card in your own name. (There seems to be very little small print about this).

I might be getting a bit obsessed with this but It's really bugging me.

Any ideas appreciated.

Thanks,

Dave

embarrassed_about_my_debt

If you get a cash advance from another card they will charge you a cash advance fee aswell.

Other alternative is ask if they will do the promotional rate on a credit card cheque and use that to pay the loan off?

daveashy

True, but before I find a willing friend I wondered if it was possible to do.

They said they can't send out cheques, you just have to be sent them :-(