Is this a dumb question?

Siouxsie32

I can't work out if this is naively dumb or not but I have a balance on an Egg card which gives cashback. If I were to make a purchase of say £100 and transfer the funds to the card pre-purchase would that be more expensive than just using my debit card? Would it affect the amount of interest I pay?

Tixy

Do you mean pay £100 off the card on say 20th Feb, and then go out and buy something for £100 on the card on the 21st Feb?

Do you carry a balance on the card usually or do you pay off in full each month?

lisyloo

but I have a balance on an Egg card which gives cashback.

Balances do not give cashback (purchases do).
Do you mean you have a negative balance that you're being charged interest on or a postitive balance?

Beware that many payments take 3-4 days to clear.
How would you be paying the card?

Siouxsie32

Yes, that's what I mean. I carry a balance on the card but just wondered if it was worth doing for the cashback or if it would accrue more interest and I should just use my debit card.

Siouxsie32

lisyloo wrote: »

Do you mean you have a negative balance that you're being charged interest on or a postitive balance?

Beware that many payments take 3-4 days to clear.
How would you be paying the card?

It's a negative balance that I get charged interest on and just pay off the minimum amount each month.

I was going to do a bank transfer towards the card for the amount of the purchase and then make the purchase using the card a week or so later.

izools

Definitely, 100% worth doing. You'll get the 1% cashback and save a little interest, too.

Good idea!

Siouxsie32

Thanks, it just seemed a bit too straightforward!

chattychappy

susie-sue wrote: »

Thanks, it just seemed a bit too straightforward!

It's because this forum is full of people that are up to the eyeballs in debt and need to keep shifting it around to keep the plates spinning or can't get a credit card at all.

For "normal" people, yep! Some of these things can be simple and straightforward.

CLAPTON

what APR does the card charge you?

Siouxsie32

21.9% APR on this card