Egg credit Card/Egg Money Card.

mrseyes

Can someone please explain the difference between an Egg credit Card and an Egg Money Card.

trippy

The Egg credit card is a standard credit card and you pay interest on what you owe. The Egg money card is 1) a standard credit card that you pay interest on what you owe and 2) it also pays YOU interest on the +balance on the card. The savings rate is quite good.

jonesMUFCforever

Egg money is Mastercard which gives cashback of 1% and pays 4% gross interest if you put the card in credit.
Egg Card is Visa bog standard credit card with I think .01% cashback.

lisyloo

The standard EGG card can give high limits and you can stooze with it (get money at 0% with it). Further more it allows SBT (super balance transfers) so you can transfer straight into a current account.
I think the max limit is £15K.
Cashback is small.
It's a VISA card.

The Egg money card pays 1% cashback and is the best card for cashback if you annual spend it between £5K - £9K.
It tends to have smaller limits.
It's a masterbard.
It pays interest on positive balances.

I use the Egg card for Stoozing and Egg money for cashback.

mrseyes

Thankyou. Ok so i have got 0% balance transfer from HSBC, i could do balance transfer to egg money card (is this stoozing?) and not to egg credit card. Have i got this correct? and then transfer money to my RBS saving account without paying balance transfer fees.

roswell

with egg money you dont get changed for + balance transfers with egg normal you pay a fee of 2% or £50 maximun for a balance transfer.

mrseyes

Thankyou roswell

mrseyes

Am i correct in saying that if egg money pay 4% on when you are in credit, it is "like" savings account?

jonesMUFCforever

mrseyes wrote:

Am i correct in saying that if egg money pay 4% on when you are in credit, it is "like" savings account?

Yes but your savings reduce by each and every time you use the card therefore your credit interest will reduce. In other words if your credit card is in credit you are using your own money and it is very profitable for Egg as you do not get any free interest period.

sicker

I keep a positive balance of about £1000 on which I get 4% interest on what I dont spend plus 1% back on all the purchases I use it for.(everything I possibly can)

John

leeegglestone

I have some questions with the Egg Card aswell, hope its ok posting them here.

Ok with Standard Egg Card.

When you apply and you want to SBT. Who decides on the amount? Do you tell them what you want & they say if the will give you it or simply take whatever they give as ur max. For instance if you want £5K

Then when they SBT it to your Current account you have it at 0% for 9months. & pay £50 handling fee. Is the 9months from getting your Card or rolling on till december, so if i get the card in August, id have to pay back the money SBT'd by December?

Do u not have to make a minimum payment per month too?

Or is the Mint Card till jan 07 the best option,these SBT to your current account too from what I read

Thanks

Lee