Super Balance Transfers discussion area

YorkshireBoy wrote: »

Egg have been e-mailing new T&Cs out. They say any +ve balances 'may' be returned to the account your DD is held with...a kind of auto SBT :DIf the card provider sent it by BACS, as opposed to FP, then it probably won't arrive until tomorrow/Wednesday...depending on what time Thursday they actioned it. Plus, I don't think the Egg balances update until after the overnight processing run.

When you say you called to process the SBT, hadn't you checked online first to see if the cash had arrived?[/QUOTE]


No :embarasse- was having trouble accessing my Egg Money account online - account frozen and had to phone up to re-activate it. That is when they told me about +ve balances no longer being allowed.

Thanks also for all the additional information. I hope that it the case that they will automatically transfer the money over to my DD account that would be fine. The lady seemed to imply that the Egg Money account would no longer accept money into credit the account and that it would be returned to the originating CC.

I shall try and hold my horses for a bit longer and see what happens

I would be interested if anybody else has been able to use Egg Money as a mule successfully since the T&Cs changed.

Are there any other mule cards/systems out there that I should be looking into now ?

Hi there,

Can I super balance transfer to someone else's account? You only need sort code and account number right?

Thanks

I have had a Barclaycard Platinum card for a while now and use it as my main purchasing card due to the cashback. I have always paid off the full amount every month by direct debit.

Separately, I bought a car a year ago on a 0% credit card, and the 0% deal was about to expire so, as I noticed that the Barclaycard Platinum card had a 0% balance transfer deal on it, I transferred the remaining balance (£5,000) onto my Barclaycard.

This has led to two problems:

1. I'm not sure how Barclaycard differentiates between the balance I build up and pay off every month on my spending, and the balance I transferred ontot the card - does anyone know? My fear is that if I do nothing, the direct debit I have set up will attempt to pay off the full amount (i.e. more than £5,000) which my current account won't be able to cope with! How can I handle this situation? Is there a way of making sure the direct debit pays off the full amount I accumulate each month plus whatever the minimum repayment is for the balance transfer?

2. Clearly adding £5,000 onto my Barclaycard means I am no very near to my credit limit, which means it isn't really suitable as my regular spending card anymore - I guess I have a couple of options:

a) Get the credit limit increased (which I will try)

b) Get a different cashback card for regular spending (I already have Amex platinum but not everywhere takes Amex)

Anyway if anyone can help particularly with number 1 I'd really appreciate it.

Thanks

Mike

Hi gemma

£4k would be quite a high starting limit (you'd actually need slightly higher than £4k as you can usually only bt 90% or 95% of your limit.)

If you have a good credit history and a high income compared to your debts then you might be accepted for a 0% SBT card. If you don't get a high enough limit then just transfer over 1 card, or as much as you can. That way you'll still have some on 0% and hopefully be able focus on clearing the rest of your overdrafts down.