Egg Credit Card Balance Transfer Offer
Back in 1999 when Egg launched its (then) new credit card, it was hailed as the saviour of the consumer. The credit card product was better than anything else on the market for almost every application. The card offered a competitive standard APR, along with 1% cashback on all purchases.
Egg made a promise to its customers that they would be offered a ‘0% anniversary balance transfer offer’ each year on the anniversary of the opening date of the account. This has been a great little earner over the last few years, personally I have been able to borrow £xx,xxx (my credit limit) for 5 months interest free each year. Investing this at even standard bank rates makes a profit of £500-£1000 per year depending on your credit limit.
Transferring at the end of the interest free period to another credit card with a 9 month introductory 0% offer meant the money could then be transferred back on the next anniversary!
This offer is also useful for building up credit card balances as Egg will perform the transfer to a regular bank account; building up a large credit card balance can be difficult through spending alone. The Egg offer allows 95% of the credit limit to be transferred straight to your interest-paying deposit account 
Remember that (as is usual with credit cards/balance transfers with multi-rate accounts) the lowest interest rate balance is paid off first. This means that any existing ’spending balance’ on the card (ie the existing balance before you perform the transfer) will be paid off last, and will be accruing interest at the standard rate.
The Egg offer has reduced in value over the years, with a balance transfer fee of 2.5% being applied, and increases to the standard rate. The standard rate (a whopping 16.9%) is applied to any balance remaining after the 5 month period. The truly shocking thing is that this interest rate is also applied to the balance transfer fee!
How to approach using the Egg card for stoozing
The Egg offer can still be good value if used correctly. Before performing a balance transfer ensure the balance of your Egg card is nil. You can even transfer the balance of your Egg card to another credit card, then transfer it straight back. Remember, it is possible to perform the balance transfer to a regular bank account (it doesn’t have to be another credit card), so you could pay off the Egg balance with any cash you have (or an overdraft) and re-borrow the money at the 0% rate.
Remember that the 5 month offer only lasts for five months from the beginning of you anniversary month - so if you wait until late in the month you will only effectively get 4 months interest free, but you will still pay the 2.5% transfer fee. To maximise the gain do the transfer as early as possible.
Don’t forget to make arrangements to move the balance at the end of the 0% period.