WTD: Credit cards with 0% introductory offer that will let you pay it off an overdraft instead of a


S

Simon Finnigan

My that`s a long subject :) I suppose it says it all, I`m looking for a
credit card or two that will give a 6 or 9 month introductory period on
balance transfers, but allow you to pay off an overdraft with the transfer,
rather than another credit card.

Thanks in advance for your help!
 
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A

Adrian Boliston

Simon Finnigan said:
My that`s a long subject :) I suppose it says it all, I`m looking
for a credit card or two that will give a 6 or 9 month introductory
period on balance transfers, but allow you to pay off an overdraft
with the transfer, rather than another credit card.

Thanks in advance for your help!
I have heard that egg card does this - you use egg card as a "feeder
account" for all your other balance transfer cards which have a "cards only"
transfer rule, and keep moving the money onward from egg into another bank
account.
 
E

Elizabeth Smith

Simon said:
My that`s a long subject :) I suppose it says it all, I`m looking for a
credit card or two that will give a 6 or 9 month introductory period on
balance transfers, but allow you to pay off an overdraft with the transfer,
rather than another credit card.
Virgin and MBNA

see article on Balance Transfers on www.moneysavingexpert.com
 
G

Guttorm Christensen

Elizabeth said:
Virgin and MBNA

see article on Balance Transfers on www.moneysavingexpert.com
If I understand the Virgin website correctly (see <URL:
http://tinyurl.com/62awr> there is a 2% handling charge for credit card
cheques? Or is there something that I am missing?

Wanted to sign up for this, however there isn't any point of there's a
2% charge on the balance transfers?
 
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E

Elizabeth Smith

Guttorm said:
If I understand the Virgin website correctly (see <URL:
http://tinyurl.com/62awr> there is a 2% handling charge for credit card
cheques? Or is there something that I am missing?

Wanted to sign up for this, however there isn't any point of there's a
2% charge on the balance transfers?
On
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1107182516,76509,
below the comparison chart it says:

"These cards are almost identical yet the pick is Virgin* as while all
don’t charge a fee if you do the balance transfer fee at card
application, Virgin doesn’t charge a fee thoughout the introductory 9
month period. "
 
J

John Redman

Simon Finnigan said:
My that`s a long subject :) I suppose it says it all, I`m looking for a
credit card or two that will give a 6 or 9 month introductory period on
balance transfers, but allow you to pay off an overdraft with the
transfer, rather than another credit card.
The short answer is Egg.

MBNA allows this too but charges 2% or £50, whichever is less. Egg's card
features an anniversary deal whereby you get another 0% deal every year for
5 months. Its other advantage over MBNA is that you can transfer 100% of
your credit limit where MBNA allows only 95%.
 
R

Robin Graham

Virgin and MBNA
IFAIK Virgin's card is an MBNA one. By applying for both you will probably
exceed the credit limit MBNA allows.

Rob Graham
 
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T

Tim

IFAIK Virgin's card is an MBNA one. By applying for both
you will probably exceed the credit limit MBNA allows.
Exceed £50,000 ?!
That means at least one (and probabloy both) of the cards would need to have
a credit limit of at least £25,000 ...
 
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S

Snuggles

John Redman said:
The short answer is Egg.

MBNA allows this too but charges 2% or £50, whichever is less.
My Dad got an MBNA card just this week and called them to arrange a balance
transfer to his bank account. When they told him there was a 2% charge, he
told them to forget it, and they waived the charge straight away. Worth
considering.

As somoene else mentioned, I use an Egg card to feed balance transfers from
other 0% cards (giving me a credit balance with Egg), and then transfer the
money from Egg into my bank account. As long as you have the Egg card, you
can take advantage of the free money that's on offer from any of the
providers.
 

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