Egg Money

jamestap

Hello All,

For anyone who has an egg money account, now may be the time to review how you use it. For a long time it was the pick of Martin's cashback credit cards because it offers 1% back on the first £20k spend per year.

However, it's also a hybrid credit card/savings account - as well as using it just like a credit card you can put money in the account and earn interest. For a long time the interest rate was very average, but throughout all of the recent interest rate cuts and economic woe the interest rate on the egg money account has remained at 4% - which now beats any other instant access account.

The bad news is that it's not accepting new applications at the moment, but for anyone who has already got one (and that's likely to be quite a few on this site as it was top of the cashback cards for a long time) should give serious consideration to switching their savings here.

It also pays interest monthly.

I'll post this to the savings and credit cards forum as it's likely to interest people in both!

Thanks,

James

YorkshireBoy

jamestap wrote: »

I'll post this to the savings and credit cards forum as it's likely to interest people in both!

As it has been doing for a while now:

http://forums.moneysavingexpert.com/showthread.html?t=1479021

http://forums.moneysavingexpert.com/showthread.html?t=1537251

http://forums.moneysavingexpert.com/showthread.html?t=1536315

Et al

The more this gets mentioned the sooner Egg will review the rate.

Jennifer_Jane

Yes, exactly, Yorkshire Boy. In general I'm tolerant of repeated threads, but it's getting to be 2 new ones a day!

Thanks, YB
Jen
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