Egg Money (Credit and Debit card in one)

...I came to deal with Egg Money. Egg Money is a rather strange type of credit card cum bank account. It pays you interest at a reasonably attractive rate of 4% on any positive balances and you earn 1% cash-back on spends. Dip into the red and you are looking at an interest charge of around 7.9%APR though so it's not a card for borrowers. The basic idea is that Egg want you to "charge up" your credit card with money which will earn interest until ...
...then this might work (and Egg will send you text messages to let you know how much money you have left) but it does seem rather complicated to me and you can get far better instant access returns on your cash than the 4% that Egg are offering. Personally, I use the card as a simple cash-back credit card. I don't pre-load it with cash. Card acceptance is not an issue, it's a standard Mastercard fitted with the usual chip and pin technology. Talking ...

CareBear 27.11.2006 · Read full review
Ciao members have rated this review on average: very helpful
Review of Egg Money (Credit and Debit card in one)

...the first of probably many egg based puns they certainly got egg on their face the day they decided to withdraw credit from roughly 160,000 of their custumers - Citi bank claimed that credit was being with drawn from users with a risky credit profile. Unfortunately this turned into an eggceptionaly bad bit of publicity for Egg.com when it transpired that a lot of these so called bad credit risks were people like myself who used the card regularly ...
...Now I like my Egg Money card as it pays cash back - 1% on all spending up to a maximum of £200 a year and nooooooooo I've yet to get the full cash back pay out! Now if only I could pay my mortgage, gas, electric council tax etc etc on it. I like a card that will give me something for nothing. Prior to my sandwiching my Egg Money card between my cash card and my Tesco's Clubcard I was an avid collector of Nectar points via the Sainsburys Bank Credit ...

The_Nursey 29.03.2008 · Read full review
Ciao members have rated this review on average: very helpful
Review of Egg Money (Credit and Debit card in one)

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 ...
...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 ...

mythdata 27.01.2009 · Read full review
Ciao members have rated this review on average: very helpful
Review of Egg Money (Credit and Debit card in one)

...credit card: ------------------------------- Essentially, the egg money account is a credit card. You get up to 50 days interest-free and can pay off the minimum amount only if you wish. It offers 1% cashback on all purchases, which is guarenteed until 2007. Cashback is paid yearly directly back into the account. It is calculated at the end of Feb and get paid at the end of March. The credit level depends on your status, but tends to start off ...
...Payments to the card: ------------------------------ Egg has a fantastic website. It allows you to access all your other bank accoutns, both within Egg and external and see the balances on one page. Im sure there are other reviews on the website, it would be outside the scope of this review to describe it here, but having used a few online banks, Egg is the best in my opinion. You can pay money into the account from any account in a number of ways: ...

Dan_ep 26.03.2006 · Read full review
Ciao members have rated this review on average: very helpful
Review of Egg Money (Credit and Debit card in one)

I have had my Egg Money Manager card now for 4 months and I think it's a great concept for those who need a little help keeping in control of their finances. What is it? :- It's a credit and debit card in one. Put very simply, it acts very much like a current bank account with an overdraft facility. When you apply for a card, you will be set a credit limit, subject to status, as is usual with a credit card. You can pre-pay money onto the card to ...
...in their current accounts. The Egg Money Manager not only earns you one of the best credit interest rates around (comparable with some savings account interest rates which are usually higher,) but you actually get paid 1% on everything you buy with your card!! Also, overdraft interest rates can usually range between 9.9% APR - 19.9% APR depending upon your bank and the agreement you have. With the egg card, borrowing is only at 6.9% APR, which is ...

Gertie25 05.07.2006 · Read full review
Ciao members have rated this review on average: very helpful
Review of Egg Money (Credit and Debit card in one)

...main problem I have with Egg is similar to the one I have with MBNA, but these guys are nowhere near as bullying and insulting as they are. Egg do chase money, but they don't go over the top with it. One of the annoying things (for me) is that they send you text messages telling you there is a message in your account. I don't like this. Just send an e mail. Like MBNA I approached them with the help of a Debt Management Company with a view to temporary ...
...money, than not help them so they go bankrupt and you get nothing. I wouldn't recommend Egg for one reason and one reason only. Credit is a mug's game. But if you do want it, then these guys aren't too bad. Just make sure you don't get into trouble. ...

sallyn1 07.04.2007 · Read full review
Ciao members have rated this review on average: very helpful
Review of Egg Money (Credit and Debit card in one)

...with a credit card and Egg Money really appealed to me for the following reasons. 1) Pre-loading. This simply means that you do not actually have to use it as a credit card but like a normal bank account. You can set up a regular monthly payment from your current account and top up any time you like. As it is an internet only account you can keep an eye on your balance and make sure you never go into the red. 2) 1% cash-back on all purchases (more ...
...CDWow. - check website for latest offers) 3) 4% interest received on positive balances. Although it should be noted that this rate has not changed for some time despite interest rate rises elsewhere. The website is easy enough to use though sometimes a little slow and remember that it is an internet only account so no paper statements, just an email alert when your statement is ready. If you have any problems or reasons to contact them this can ...

bazh66 13.07.2007 · Read full review
Ciao members have rated this review on average: helpful
Review of Egg Money (Credit and Debit card in one)

...you would not have an Egg Money card. The concept is easy. You can use it at as a credit card and get charged a low APR of 7.9%. Well, that's brilliant for a credit card. Alternatively, you can front load the card and get paid interest on your positive balance at 4% which is the same as a savings account. On top of this you get cashback each time you use the card of 1%. As will all credit cards, how you use it will determine what you get out of ...
...load the £400 on my Egg Money card putting it in a postive balance I earn 4% interest on that balance. Plus, each time I use the card I get at least 1% cash back . Now I earn £16 from interest and £4 on cashback. Over a year this is £240!! On top of this, Egg's website is excellent and the service is good. What more could you want. If you're clever with your money, get an Egg Money card! ...

spoonstar 25.10.2006 · Read full review
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Review of Egg Money (Credit and Debit card in one)

...great for girls! The Egg website is very easy to use and only breaks down occasionally. Sometimes the system automatically changes your payment options which is very annoying. I pay the full outstanding amount every month and my payment got changed to the minimum payment. This meant I got charged interest - but if you make a fuss they will refund this and apologise. I would recommend this to anyone who pays their balance off in full every month, ...

honey000 01.08.2006 · Read full review
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Review of Egg Money (Credit and Debit card in one)

Help me Please! Has any one else experienced difficulty applying for Egg Money. I have been trying to apply for the past three weeks,my application on line states processing my application. When I contact Money via the secure site I am given numerous suggestions to try but to no avail. Has any one experienced this? and how did you resolve it? ...

llongyfarchiadau 16.07.2008
Ciao members have rated this review on average: helpful
Review of Egg Money (Credit and Debit card in one)

...may have changed since then, Egg was bought by Citi right?) I recently applied for this card, and less than an hour after submitting the application Egg phoned up for a chat, essentially to work out why I wanted this kind of card and what my plans were for it. I like this, as it lets me say that, e.g. I want it for it's 1% cashback feature, rather than needing a large credit limit for balance transfers etc. My normal experience has been that credit ...
...was fraudulently used, and so Egg had to block it and reissue a new card. Except that their customer service completely fell apart. Here's the complaint I've just sent to Egg: 1. My card was fraudulently used - the replacement card had my name mispelt on it. 2. The replacement card supposedly sent never arrived - still waiting 4 weeks later 3. When I complained about the lack of replacement - it was CANCELLED - so that I have to wait even longer ...

indiekid75 02.09.2007 (24.10.2009) · Read full review
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Review of Egg Money (Credit and Debit card in one)

Egg card i would say that this is one of the worst credit cards out there.Why did i bother? i can't actually remember but one of the things this card offers you is 0% interest on purchases for the first three months-after this it goes up quite a bit.good things-i suppose a good thing about this is that you can check your balance online 24 hours a day seven days a week-but since most cards offer this its nothing special. bad-not really bad but a ...
...airmiles regardless of where you use them. so why pick them (who give you nothing) when you can get a much better deal elsewhere? customer service-recently they have cancelled loads of pps cards even when the person has paid in full etc.the only want you as a customer if there getting plenty of money out of you summary-something to cut up on dooyyoo ...

katie22008m 05.03.2008 · Read full review
Ciao members have rated this review on average: somewhat helpful
Review of Egg Money (Credit and Debit card in one)

I was a very happy Egg customer. I liked how I could deal with all my transactions online and everything was very clearly set out. I eventually wanted to pay off my Egg Card and become credit-free. I made a payment but because of the way they charge interest I ended up with 25p left that I owed on the card. The minimum payment I could make was £1 which left 75p they then owed me. Egg have an online secure messaging system in which you message them ...
...box so that it emails your main email account telling you that they have replied to your query. I found this service very quick (within 24 hours) and much more pleasant and stress-free than pressing umpteen buttons on the phone to be put on hold for 20 minutes before then getting to speak to a human. In my case they arranged a transfer for 75p into my bank account and I happily closed the account. I have nothing but praise for the way they dealt ...

jenniewrennie 29.03.2007 · Read full review
Ciao members have rated this review on average: somewhat helpful
Review of Egg Money (Credit and Debit card in one)