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Balance xfer --> Egg --> bank cc

Hi all,

Just after final confirmation before I give this a shot.

I have an application for a new credit card with the usual introductory 0% for 6 months. Unfortunately the card does not allow me to transfer directly to a bank a/c.

I understand from my lurking on the group that it is possible in such cases to :

1) Do a balance transfer to your Egg account, giving it a credit balance 2) Transfer the Egg credit balance to your bank account

Could someone confirm that the above is correct, and advise how you go about getting the Egg credit balance into your bank account - is it done through the Egg Money Manager?

Clarification appreciated.

Brgds,

Reply to
Trust No One
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I've done it (several times) by ringing Egg and asking to transfer the balance to my current account.

Reply to
<strowger

Yes, the above is right but its nothing to do with the Egg Money Manager

Instead, you want to go to Move money/Balance transfers/current account / overdraft and enter your bank account details there.

Regards Sunil

Reply to
Sunil Sood

Many thanks!

Reply to
Trust No One

Don't forget that Egg will be charging you interest at 16.3% APR if you do this. Wouldn't it be cheaper to apply for a loan from them?

Reply to
Chris Blunt

Not if you are transferring a "credit balance" from your credit card..

Regards Sunil

Reply to
Sunil Sood

That's worth remembering. Will Egg allow balance transfers to be made from another card which result in a large credit balance on the Egg card account?

Reply to
Chris Blunt

Yes :)

Regards Sunil

Reply to
Sunil Sood

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