Egg credit card payments question

Dagobert

Hello,
Sorry if this has been discussed elsewhere already, but the forum search is currently not working.

I have only just detected that some credit cards can be paid off with a debit card.

I have set up my Egg green and Egg Money cards with a minimum payment by direct debit in order to comply with their T&Cs. However, I always pay my cards in full but prefer to do this "by hand".

Question 1
How many days before the direct debit date does a payment need to be received in order for the DD not to take place?

Question 2
How many days in advance does a direct debit card payment have to be initiated? (For instance, MBNA credits a debit card payment on the following working day.)

Question 3
I received my Egg Money card a couple of weeks ago and have been spending on it since. The "About your cards" page shows my next payment date as 2nd Dec. Does that mean that the current balance is due to be paid on 2nd Dec? For the Egg green card, I receive a statement weeks in advance. Can anyone kindly explain the Egg Money payment cycle?

dc

I would have thought that all credit cards could be paid using a debit card, as it is an electronic form of cheque.
Internet payments made with debit cards usually take two working days to appear on the credit card account.

YorkshireBoy

@Dagobert

1. 5 days, according to the Egg FAQ.

2. If you mean 'debit card' payment, it's the next working day in my experience.

3.1 Yes.

3.2 I don't have the Egg Money card, but would imagine it's the same as the Egg Green card.

sicker

3.2 I don't have the Egg Money card, but would imagine it's the same as the Egg Green card.

YorkshireBoy, as a very regular and seemly very knowledgeable contributer to this board may I please ask without causing offence WHY NOT ????????

Best regards

John

Dagobert

I just phoned Egg. Here are their responses:

1. 5 working days

2. 4 working days for a debit card payment

3. No. For my card, payment date is 2nd of the month and statement date 18th of the month. As I received the card after the 18th, there will be no payment on 2nd Dec.

I shall try £1 test debit card payment to check how long it will really take.

Dagobert

Only transactions classified as purchases (as opposed to wire transfers) qualify for cashback.

Question 4
What are Paypal payments?

YorkshireBoy

sicker wrote:

3.2 I don't have the Egg Money card, but would imagine it's the same as the Egg Green card.

YorkshireBoy, as a very regular and seemly very knowledgeable contributer to this board may I please ask without causing offence WHY NOT ????????

Primarily...

1. I couldn’t “afford” a credit search when they launched it.
2. My Egg anniversary was a long way off (muling in months 2-5 was the primary use of the old Egg Blue I believe).
3. I have 4 other SBT cards.
4. I get 4.75% with ING, and Mrs YB gets 5% in her ISA (sooner than she would otherwise have done).
5. I honestly thought that other providers would have blocked BT’s from the Egg Mastercard (happily for others my fears were unfounded here).

I may look at it again in the future, after I've done some sums on the cashback (vs recycling our min payments with our existing cards) and if my credit report/stoozing activities allow.

michael19_2

Dagobert wrote:

Question 4
What are Paypal payments?

Paypal was set up by EBAY to help people pay for goods electronically.

Michael

sicker

YorkshireBoy,
Thanks for your responce which I can understand. I too use ING for the 4.75% interest rate but find preloading Egg Money and using it carefully is very convienient.
I also keep £2500 (over that has rubbish interest rate) for there 5% interest rate.

JOHN

Dagobert

michael19 wrote:

Dagobert wrote:

Question 4
What are Paypal payments?

Paypal was set up by EBAY to help people pay for goods electronically.

I know.

What I meant was: when using a credit card for a PayPal payment, does PayPal classify it as a purchase or as a wire transfer?

No_6

Yorkshire Boy

Have a Egg Green and applied for Egg Money.
Instant Yes decision.
No credit check on Experian or Equifax.
Regards
No6