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WHY I CHOSE THE EGG CARD.
Well six years ago we were going on a six week trip to the USA and I hate to take cash or travellers cheques so I wanted a credit card that I would be able to use while I was out of the country and I would not be charged excessive amount for using it while abroad.
While looking a different offers available at the time, the Egg banking seemed to be our only viable option as it allowed us to do this at no additional cost and you actually got the bank rate for that day on the US dollar, which was great as the US were in recession at the time so the exchange rate was fluctuating on a daily basis.
So our sole purpose was to get a card we could use on holiday, but six years on I am still banking with Egg as these seem to work very well of us and they are very good where interest is concerned.
APPLYING FOR THE CARD
This was rather daunting for me as everything was done online at www.egg.com which was very unusual as I was used to filling out paper work that came through the post and it would take weeks for you to get approval and then your cards, so Egg worked really well as you got a decision with minutes of completing the paper work online, then my card and pin numbers followed within three days of completing the relevant paperwork online.
When you visit the egg
web site you just click on the apply online tab and fill out the application form, which consists of current names, addresses, bank accounts, credit cards and job status. This can be the long winded part and will take roughly ten minutes to complete but you can get your approval within minutes of finishing it.
After I was approved online my new card was sent to me within two working days and then closely followed by my pin number, which arrived a few days later.
VALIDATING THE CARD
This was simple once I had my card and pin, I could login to my accounts at the www.egg.com website. This account was created while you were applying for the card and you gain access by using the password and login name, you selected for your self. All of the passwords and pin numbers given to you by Egg can be changed at anytime once you have logged in to you egg account.
After you have logged in you can validate your card for the first time or if you prefer you can telephone Egg directly to validate it, but it is not a free phone number so you will be charged for this.
After you have validated the card you are free to use it whenever and where ever you want.
EGG CARD BENEFITS
As with most credit cards egg offer you the typical 16.9APR which is variable, but over the six years this has not really changed for me.
Currently egg are offering 0% interest for a year and 0% interest on all purchases for a year, this came in really handy for us as we had a year to pay off the balance before being charged any interest.
I will never draw out cash from a machine with the Egg card as you instantly get charge 2.00 just to withdraw and then you are paying interest straight away on any cash withdrawals, so this is no good if you want cash as you are paying very highly for it.
Currently egg are offering 5 months interest free on balance transfers, but when I got my card it was a year so it was great for resolving any existing debts and it was so simple to transfer money from the card to any of my existing cards of accounts, via the egg web site.
When you sign up for the card you have to give them your bank details so they can collect the minimum payments every month via direct debit. This is a condition of having the egg card so if you don't want to set up a direct debit it is unlikely you will get approval for the credit card.
Payments are usually taken on the 16th of every month, so paying is simple providing your bank has sufficient funds to pay it.
To set up your payment amount you need to login to you egg account, payments are always set to take the minimum payments from your bank but if you wish to pay more of one off payments you can do this from your online account.
Considering I only wanted the card for my holiday and I have now been with egg for six years must say something for the company, I feel confident with egg in every way possible and now have all sorts of accounts with egg.
At first I hated the fact that everything was done online, as I didn't get any paperwork of statements sent through the post, but as I got used to going online I found it to be much better as any information I need it there at the click of a button and I no longer have to store the statements at home so I have more space for other junk.
I feel that the egg card would be good for anyone who wishes to pay off existing credits cards that are crippling people with the high interest, I had a Barclay card and my monthly payments were only just covering the interest so with the egg being interest free has helped now my payments are clearing the actual debt and not just the interest.
If ever I have had a problem with payment Egg have been very good and allowed me extra time to pay, without me occurring charges I have found them to be very accommodation and there customer service is excellent compared to others that I have had dealings with in the past.
I would recommend egg to everyone as I am very confident with them, not only do they make banking extremely easy but they are there to help if ever I run into financial difficulties.
I have had an Egg card before and thought it was fine. the only thing I didnt like was their insistene that you set up a DD for the minimumn payment. I would rather pick and choose what I pay off. Good review.
gemax2 18.02.2009 20:15
I got one of these years ago & cancelled it but still get monthly statements ?? figure that out