Egg credit Card/Egg Money Card.

student100

Thanks. I was wondering if anyone could say how their Egg Money limit compares with their limit on any other cards they may have.
I know circumstances vary wildly but just want a rough guide... if the EM limit is going to be several times less than other limits then there's little point me applying, although if it's equal to about 60%-80%+ of people's limit on other cards then that will probably be fine...

honey123

Hi
I am new for this site and i wonder if somebody can help me with my question
I just received my egg money card today and i want to know if I will make cash machine withdrawl and i don't have positive balance at the moment on my card is there any charge for this as long as i will bay my full balance every month with direct debit.

thanks

theowl_2

That would be a cash advance as you do not have a + balance and almost certainly they will charge you a withdrawel fee. Usually about 1.5- 2% I think.

honey123

HI
thank you for your replay
i have copied the text below form FAQ section in egg money site

How do I make a withdrawal?

You can make cash withdrawals from cash machines that accept MasterCard. You can withdraw a maximum of £500 per day. It’s worth noting that when you purchase travellers' cheques, these will register as a cash advance and will affect the amount of cash you can withdraw that day. We will not charge you a fee or interest for cash withdrawals when you have a positive balance. However, if a withdrawal gives you a negative balance you will be charged interest on the negative amount, but we will not charge you a fee.


as you can see they siad no fee but they haven't specify 5o days free interest period?
what do you think

YorkshireBoy

honey123 wrote:

Hi
I am new for this site and i wonder if somebody can help me with my question
I just received my egg money card today and i want to know if I will make cash machine withdrawl and i don't have positive balance at the moment on my card is there any charge for this as long as i will bay my full balance every month with direct debit.

If you check your T&C's you'll see that, whilst there is no cash withdrawal fee for withdrawing from either a positive or negative balance, you will incur interest from the time of the cash withdrawal until your DD clears into your account.

You will also pay a little interest the following month (for the period between your statement date and the DD date).

student100

Sounds like there is no cash advance fee, but you will pay interest from the day of the withdrawal, there is no interest free period on cash advances.

Linda32

student100 wrote:

Thanks. I was wondering if anyone could say how their Egg Money limit compares with their limit on any other cards they may have.
I know circumstances vary wildly but just want a rough guide... if the EM limit is going to be several times less than other limits then there's little point me applying, although if it's equal to about 60%-80%+ of people's limit on other cards then that will probably be fine...

Hi again, A few years ago I had a LloydsTSB card (my bank) and can if I want still have one today. They offer me one quite oftern. The credit limit then was about £4,000 if I remember.

I havn't had a card for a number of years so thats perhaps why mine is low.

The reason I've applied for one now is after reading on here that an Egg Money card is a good idea if you pay the balance off.
I'd rather have cashback than points, as in the Tesco card.

CharleneUK

I just tried to cancel both cards, then egg called me with the usual "we will do all we can to keep you, blah blah blah" So I'll just use the egg money card to get cashback.

YorkshireBoy

CharleneUK wrote:

...So I'll just use the egg money card to get cashback.

Can't you make use of the Egg Card anniversary offer?

The_Boss

Bit of a random question in here - but does the Egg money card have a 16 digit number like normal credit cards? If not, how do you transfer to it?