Egg Money - improving my chances?

Richard019

Earlier in the year I applied for an Egg Money account for 'muling' and was rejected, although they instead gave me their standard card (with a £750 limit)

In fairness at the time I had probably made a couple too many applications in the previous 6 months. Since then I've been doing what I can to improve my chances of getting it next time but I'm just wondering if there's anything else I can do:

There are no negative entries on my credit file (and never have been).

My earnings have increased by around 15%.

I've removed unused overdraft facilities and I'm reducing the ones I am using (0% interest).

When I reach the time to apply again I'll have paid off around half my credit card 'debts' (stoozing).

I'll only have 1 credit search in the previous 6 months, and that was for a business account (I don't know if they can see that reason or not).

I'll also have 6 months of using their normal card and paying it off in full by direct debit.

clio

I would have thought the criteria was the for same for Egg Visa and Egg Money. wonder how they work there scoring if you got refused EM but given the Visa. plus i would have thought the Visa was more harder to obtain than a EM don't know why i think that but i do..

ldn-100

I was recently accepted for Egg Money and I am not currently on the electoral roll, following a recent move. I did, however, have an existing relationship with them (long-expired Egg Card) so that may definitely help.

benf90

When you say 'they instead gave me their standard card' do you mean you made a second application for it and it was accepted?

I'm not aware of Egg ever rejecting an application and offering an alternative card instead (like Capital One etc do).

The Egg Money account has historically been harder to get, most likely because of the lower interest rates (even though it's marketed to be used with a credit balance). Maybe this has changed though with them increasing the rates recently.

The standard Egg Card can be used temporarily as a mule card if you need it to, if you 'accidently' gave your Egg Card number instead of another card. They'll send any credit balance back to the account which they use for your Direct Debit payments. As long as you don't do it frequently you should be ok.

Richard019

benf90 wrote: »

When you say 'they instead gave me their standard card' do you mean you made a second application for it and it was accepted?

I'm not aware of Egg ever rejecting an application and offering an alternative card instead (like Capital One etc do).

I only made one application. There is the possibility that I just applied for the wrong card but it's unlikely. I didn't receive a rejection and then an acceptance letter/email but then neither do the Cap 1 customers. I was also following the stoozing instructions on the main site where it says be careful to get the right card so I would be surprised if I messed it up in light of being specifically told not to. I do surprise myself at times though.

benf90 wrote: »

The Egg Money account has historically been harder to get, most likely because of the lower interest rates (even though it's marketed to be used with a credit balance). Maybe this has changed though with them increasing the rates recently.

Doesn't the Money card also offer 1% cashback? That's perhaps another reason.

benf90 wrote: »

The standard Egg Card can be used temporarily as a mule card if you need it to, if you 'accidently' gave your Egg Card number instead of another card. They'll send any credit balance back to the account which they use for your Direct Debit payments. As long as you don't do it frequently you should be ok.

I'm looking to use it for stoozing so I'd potentially be looking to do it 3 or 4 times a year, depending on offers and my circumstances. In the short term I'll not be doing any more until my MBNA BT offer has been repaid so I should have a new offer from them within a few weeks (since they offered it on every statement before I used it) so it's probably not much use but thanks for the suggestion.