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Egg Money World Mastercard - £1 monthly fee!

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Kavanne
Kavanne Posts: 5,093 Forumite
in Credit cards
This just appeared at the Daily Mail:

http://www.dailymail.co.uk/news/article-1198925/Egg-brings-1-monthly-charge-credit-card.html

Has there been any other articles or info about this?

I just tried to get on egg.com and says they are performing maintenance! I dunno about egg but when apple.com does that it usually means and update to product range!
Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'
«13

Comments

  • debtdestroyer007
    debtdestroyer007 Posts: 402 Forumite
    i wud love to have one of those
  • mrmajika
    mrmajika Posts: 987 Forumite
    Part of the Furniture 500 Posts Combo Breaker Photogenic
    Hmmm. Interesting. I wonder what this means for exising customers.

    I currently have around £22 worth of cashback owed to me on my Egg Money card (it's not my main cashback card). I'd be a bit peeved if I had to pay £8 (£1 per month) until March when the cashback is paid.
    Whilst my posts do not constitute financial advice, I am always, without fail, 100% right! :D
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    More details emerging...
    The new Egg card, which will be available from Tuesday, offers 1% cashback on all purchases, up to a maximum of £200 a year, meaning consumers could easily recoup the annual charge. But with a typical APR of 17.8% the benefits of the cashback will be instantly eroded if holders do not pay off their balance in full each month. The card also offers a balance transfer rate of 8.9% for the life of a debt, with no balance transfer fee.

    http://money.aol.co.uk/warning-over-annual-fees-charges/article/2009071019071744513923
  • mrmajika
    mrmajika Posts: 987 Forumite
    Part of the Furniture 500 Posts Combo Breaker Photogenic
    YorkshireBoy wrote: »
    More details emerging...
    It's basically the same card as it is now to existing customers. Still no mention of fees for existing customers.

    I'd be tempted to bin this off if a fee was introduced, but it's handy for SBTs and I'm sure my Capital One 1% cashback won't last forever...:confused:
    Whilst my posts do not constitute financial advice, I am always, without fail, 100% right! :D
  • LeeSouthEast
    LeeSouthEast Posts: 3,822 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    Egg goes down every weekend. *grumble*
    Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
    Do something amazing. GIVE BLOOD.
  • PBA
    PBA Posts: 1,521 Forumite
    Interesting, as an existing Egg Money holder I've had a couple letters recently about the benefits of the enhanced Egg Money World Mastercard. They certainly didn't mention any monthly fee.

    Incidentally the Mail article must have been written by one of their junior hacks, as they're clearly not old enough to remember that going back only 15 years or so pretty much all credit cards had a fee!
  • apt
    apt Posts: 3,231 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Similar article in today's Independent - http://www.independent.co.uk/money/spend-save/new-credit-card-promises-exciting-extras--ndash-but-paying-on-plastic-can-be-a-costly-mistake-1741791.html
  • cakinwande
    cakinwande Posts: 148 Forumite
    I'd been an Egg Card customer for about 5-6 years up until last week and I tried to do Egg Money application but it seems like they are only offering deals to existing Egg Money customers...

    EMonUpdateTopImageNov08.gif
  • donaldtramp
    donaldtramp Posts: 761 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    edited 11 July 2009 at 9:14AM
    I've had an EGG money card for years and always used it for cashback.

    Now I got some new info about updated insurance from the credit card but no mention of a £1 a month fee.
    I wonder if existing card holders will be kept on under the old no charge Ts &Cs????

    EDIT: just read in the news section on MSE that:
    Existing Egg Money cardholders earn a straight 1% cashback, and get the price promise, without any fee.

    So looks like I've scored with the new insurance and purchase guarantees...
    I like EGG!!
  • M_Thomson
    M_Thomson Posts: 1,596 Forumite
    Part of the Furniture
    cakinwande wrote: »
    I'd been an Egg Card customer for about 5-6 years up until last week and I tried to do Egg Money application but it seems like they are only offering deals to existing Egg Money customers...

    EMonUpdateTopImageNov08.gif

    Have you read any of the links above? The new version of Egg Money will launch on Tuesday.
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