Traditional balance transfers on a credit card offer a convenient way of moving debt from one credit card to another, shifting the debt to a lower rate of interest.

Something that is less well talked about is a ‘Super Balance Transfer’ not all Credit Cards offer this facilit. A super balance transfer allows you to shift any debt onto your credit card.

The idea is so that you can transfer the balance of an Overdraft you may have on a bank account onto you credit card. But you don’t even need to have any debt in the first place in the bank acount you can simply transfer the maximum credit limit from your card into your bank account. Essentially this is an interest free loan from the credit card.

This can allow you to do something called Stoozing click the link to learn more about Stoozing.

One Credit Card that does offer Super Balance Transfers is the Egg Card At the time of writing this Balance transfers are 0% for 6 months, with Egg.com

Some thing you do need to take into consideration if you are going to do a Super Balance Transfer are.

• Most credit cards will charge you a % fee for doing a balance transfer (around 2-3%)
• If you borrow your maximum credit limit from the credit card remember you still need to meet the monthly minimum payment each month and if you miss just one payment they will start to charge you, the full APR on the remaining balance. Make sure you work out the monthly limit and that you can afford it before you do a balance transfer.
• If you do a balance transfer or super balance transfer onto a credit card make sure the card has no debt on it before you do it. And also don’t make any purchases on the card after you have transfered a balance onto it. If you have both a transfered balanced and purchases on the one card, the credit card company will take monthly paryment off the balance transfer amount (0%) leaving the expensive debt accruing interest. You will then never be able to pay off the expensive purchases debt off until all the balance transfered debt is payed off, so essentially the purchased debt is trapped.

Learn more about Super Balance Transfers At Egg.com