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View Poll Results: Am I a twerp because the answer is obvious!

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  • yes

    8 66.67%
  • no

    2 16.67%
  • maybe!

    2 16.67%
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  1. #1
    Junior Member daddykool
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    Help: Egg - Got card...How do I get £'s into account for %

    Help please...

    Well after months of "waiting" i have followed the notes and advice on the forums here and MSE and got Egg, having read and read again the various info on BT, SBT, CC Cheques into bank, online transfers, I still can't get my head around how to make % on the funds from the card? I hope that this is not too stupid by starting a new topic post but I really have got confussed by all the other posts, answers, opinions and goose fluff

    I do not need to use the funds on the Egg and have only got it to make some casheroony so help but be gentle

    Thanks all who are up this late / early!

  2. #2
    Contributor 11percent
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    You were advised to get an Egg card as its probably the easiest method to get funds from CC to bank using their website, so:

    1. Log into your Egg account

    2. Click on 'Balance transfers' on the left hand menu

    3. select the current account/overdraft
    and fill in the following bank details:
    -sort code
    -account number
    -reference/roll number
    -account name(s)
    -Enter the amount you want to transfer amount £If your only using the 0% funds from Egg then transfer up to your available credit limit. If your using other 0% credit cards as well give the other CC your Egg account no and ask to do a balance transfer, this will put Egg into a positive balance then complete steps above (before finally leaving the Egg card maxed out as well)

    It really is that simple

  3. #3
    Contributor 11percent
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    BTW you know to stick the money into a high interest savings acccout then right?

  4. #4
    Rpoints Elite Bazzz
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    If you've already read all the advice on how to do this, and still can't understand it, you probably shouldn't try. You're likely to get yourself into all kinds of trouble.

  5. #5
    Junior Member daddykool
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    Quote Originally Posted by 11percent

    It really is that simple
    thank you thats plain enough! i now understand the principle, so can i transfer from my EC to pay other bills with the 0% balance? e.g fund a car by transfer to dealer @ 0% as opposed to 7.5%!, my son-in-laws (different name) overdraft (only £2.3k) my life policy or phone bills? I assume that when i do a transfer that as long as i pay the funds back, which i do, that i can pay anyone or anything?

    thank you 11% for making the process a bit more obvious, unlike EC, all very well dishing out maxed EC's but not letting anyone know they can use the cash is...oh so

  6. #6
    Junior Member daddykool
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    Quote Originally Posted by 11percent
    BTW you know to stick the money into a high interest savings acccout then right?
    yep worked that bit out! cause making money is the easy bit, using OPM to do it is even more fun :P

  7. #7
    Junior Member daddykool
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    Quote Originally Posted by bpyoung
    If you've already read all the advice on how to do this, and still can't understand it, you probably shouldn't try. You're likely to get yourself into all kinds of trouble.
    Oh can i get into trouble for Stoozn n SBT? its not that i dont understand i was just a bit confused by the MANY different posts and opinions on the matter, thats why i waited so long to do it, what sort of trouble?

    thx

  8. #8
    Contributor 11percent
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    thank you thats plain enough! i now understand the principle, so can i transfer from my EC to pay other bills with the 0% balance? e.g fund a car by transfer to dealer @ 0% as opposed to 7.5%!, my son-in-laws (different name) overdraft (only £2.3k) my life policy or phone bills? I assume that when i do a transfer that as long as i pay the funds back, which i do, that i can pay anyone or anything?
    You've got me worried now I'm not sure you've quite grasped the concept yet. The reason we use Egg is to turn the BT offers into cash. You will not be able to transfer money from Egg to dealer? You would need to route it through your Egg card to get cash into your current account first. Nor would I use it for any of the examples you have given as you will need to have the funds available 9 months down the line (or whenever) to pay straight back to your credit card. Do not count on being able to get 0% deals for ever, no one can guarantee this. ALWAYS ensure you meet the minimum repayment required on the credit card each month usually between 2 - 3% of the outstanding balance and make sure its on time. First late payment and a fee approximately £20 will proabably be slapped on the account and your balance will revert to the standard balance transfer 15%+

    But yes to answer your question the cash can be used for anything.
    Please make sure you know exactly what your doing first before you jump in though,

    otherwise I'll feel responsible

  9. #9
    Junior Member daddykool
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    Opps help help!

    Ok 11% i knew i should have waited!

    Right here goes, i have got an EC with the highest credit limit they would give, i have NOT BT any other funds, debts or cards to it for any amount it is CLEAR with 0% till October, i assumed from posts that i could transfer out of the EC to anywhere?

    I have the income and funds to clear it and other cards/overdrafts/loans/finance after the 9mths and always make Double plus 10% to all cards to keep CFile 100% (something everyone should do if they want 450 pointer plus file!)

    So hope that is a bit clearer, i want to use EC £ to pay other things at 0% that are costing lots%more.

    The difference is going in a few personal investments (12%!), so can I do it? and if so am i allowed to do it e.g other accounts/not my name/online payment from EC?

    thx 11% again




  10. #10
    Contributor BrianStanier
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    I agree with bpyoung. I don't think you understand what you are intending to do. Your intentions mentioned in the first and last posts are contradictory.

    Read the terms and conditions of the Egg card which you have agreed to. You can transfer funds to YOUR current account or to pay off another card. That is all. If the former you can then use those funds to do whatever you wish.

    My advice is don't do it.


 

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