Page 1 of A QUESTION ABOUT BALANCE TRANFERS FOR CREDIT CARDS?????????

I currently have a bill of just over £800 due in a week or so.

This is on my Barclaycard.

Is it possible to open a Egg Card and get them to pay this balance for me.

Do Egg charge 0% for balance transfers???

If i am able to do this will i have to close/ or end my business with Barclaycard in the process???

Also, will i still receive my NECTAR points if Egg were to transfer the balance 2 them? and would the balance receive the 0.5% cashback benefit that Egg do, or is this just for purchases?


Any advise from someone who has done balance tranfers before would be appreciated.
Thanks, Colin.

> Is it possible to open a Egg Card and get them to pay this balance for me.

Yes, and if you can transfer balances with your barclay card you could transfer every 30 days (or whatever the interest free time is) and not pay any interest. You don`t have to close your old accounts.

> Do Egg charge 0% for balance transfers???

They did when I first got min - 6 months at 0% for purchases and transfers. This may have changed. Why not go to www.egg.co.uk and see?

Don`t know about nectar and egg, or how it would affect the cashback.

Yeah, i`m in the same boat, but have two credit cards. One with the Halifax it is 0% interest on purchases and balance transfers for the first 6 months. Sadly, the six months has just ran out. I`ve just applied for another card this time with 0% interest on balance transfers for 6 months. So, might bang the money onto this card from Halifax and then cut it up.

But, because I already have two could I just keep swapping the balance between the two cards everytime I receive a statement? Think I can so might try this if I don`t get the new one approved or decide not to take it.

Loads of people ending up paying massive interest cos they stay with their credit cards after the interest free period is over there is no way i`m gonna do this.

Reply to first question:

the cashback is just on purchases, i`ve got a similar one from Alliance and Leicester.

Rich, If you keep transfering the balance between the same two cards you will find you will pay a fee for the transfer + interest from the day you transfer the balance. Best to transfer to a new card.

This item was edited on Monday, 4th November 2002, 17:59

> Rich, If you keep transfering the balance between the same two cards
> you will find you will pay a fee for the transfer + interest from the day
> you transfer the balance. Best to transfer to a new card.

I think it depends on the card - if a card has a 30+ day interest free period, like a lot do the you shouldn`t pay interest for 30 days on a balance transfer (of course there may be small print) where as for an overdraft for example you would pay as soon as the money goes from your account. Then before the 30 days are up you transfer to another card and hey presto no interest for 29 days.

Of course some special offers (like American Expresses cashback) doesn`t apply to balance transfers.

Can any1 else offer their advise to my original thread posting regarding tranfering my Barclaycard balance to a new egg card.

Will it cost anything to do? (will egg charge 4 transfer?)

Will Barclaycard take away the Nectar points that i would have earned for spending £800 plus?????

If egg is 0% until May which i think it is, does this mean i can just make the required minimun payment each month and pay no interest on the outstanding balance?????

Any help!

>> Will it cost anything to do? (will egg charge 4 transfer?)

No it`s free - I`ve done it

>> If egg is 0% until May which i think it is, does this mean i can just make the required minimun payment each month and pay no interest on the outstanding balance?????

Yes, done that aswell. No interest at all for 6 months.

Thanks Gazza,

That`s cleared my problem up, i`ll try and get a new card in case they start charging a fee.
The Nectar points won`t be taken away (99% sure), but if you did a balance transfer from Egg to Barclaycard i.e. the reverse you would not accumulate any Nectar points.

Balance transfers between credit cards..

I`ve just taken out a new card (RBS Advanta) 0% until 0106023 for all purchases, balance transfers and cheques (yes, some of the card companies issue cheques which can be used like `normal` cheques).
After 1st June their regular interest rate kicks in but one does get the fairly usual 25 days from date of statement for zero-interest ---EXCEPT FOR BALANCE TRANSFERS.
These carry interest from the date of the transaction..... but it might be worth you making an enquiry with your own card company(s).