Advice Needed - Thinking of Egg Money

aaazza

Hi all,

I'm thinking of setting up an Egg Money account. I don't have any debt I want to transfer or anything like that I just want a VISA credit card to order things on the odd occassion when I can't use my MAESTRO (debit) card.

I like the way you can pre-pay money into the account (which is what I would do - I don't buy anything I can't pay off straight away). Obviously I wouldn't keep a lot of money in the Egg account (I think the interest rate is only 4%) but enough for me to make a purchase when I wanted to.

Just wanted to ask if I am making a sensible move here. Any advice appreciated.

Thanks,

aaazza

CLAPTON

yes and you get 1% cashback on your purchases.

however you might want to consider using it as a 'normal ' CC and set up a DD to pay the entire balance each month then there would be no need to 'preloan' the card and lose that little bit of interest.

aaazza

Ah ok.

I didn't know you could do that.

Thanks,

aaazza

CLAPTON

usually you have to phone the CC company but with egg you can do it online

klondyke

Isn't Egg Money Mastercard?

aaazza

klondyke wrote: »

Isn't Egg Money Mastercard?

Oops, maybe, can anyone clarify?

aaazza

---lee---

klondyke wrote: »

Isn't Egg Money Mastercard?

Yes it is. I know OP said Visa, but hopefully he's ok with Visa or Mastercard.
Incidentally, is there anywhere that only accepts exclusively Visa or Mastercard as opposed to both? It’s not a situation I’ve experienced – maybe abroad?

aaazza

Thanks for the reply.

Mastercard should be fine.

Cheers,

aaazza