Egg Money - Credit or Debit card?

jonesMUFCforever

But how would anyone know? Do they check when you purchased something and what your balance was if you had to claim?

King_Of_Fools

stphnstevey wrote:

So if I have a positive balance and I pay for something, it's a credit card transaction not a debit card transaction?

Just need to kow as my purchase charges for a credit card transaction but not a debit card transaction.

Egg Money is a Mastercard.
Egg card is a Visa.
These are both credit cards and purchases will be treated as credit cards whether you have a balance or not.

Debit cards are those like Visa Delta or Maestro - the retailer will know which type of card you have.

King_Of_Fools

ejones999 wrote:

But how would anyone know? Do they check when you purchased something and what your balance was if you had to claim?

The card company could easily find out and ultimately if they can prove that you did not purchase on credit they do not have to offer the protection by law.

bonecase

I read this on egg money website.

"At least 1% cash back on all purchases guaranteed until 2007."

What does this mean? If I apply now, will I have the cash back? When will this stop? Confused

SalsaDanca

bonecase wrote:

"At least 1% cash back on all purchases guaranteed until 2007."

What does this mean? If I apply now, will I have the cash back? When will this stop? Confused

Egg Money is still paying 1% cash back. The guarantee meant that Egg would not reduce the cash back, so now the guarantee has ended they can reduce the cash back at any time.

Egg is losing a lot of money, and has recently been sold to Citigroup. Its new owners will want to reduce its losses, so I wouldn't be surprised if the cash back is reduced soon.

Kayak_2

One of the reasons Egg Money offer the 4% on credit balances is that if you have a credit balance you lose the benefit of the interest free period (since your purchases will be debited to the interest earning balance as they are made). Most people do not realise running the Egg Money card with a credit balance is costing them money.