Egg Card Query

Jaxx_uk

Hi

I have recently received an Egg card and I have a couple of questions.

1. if I spend on it, how can I pay off what I spend straight away? I am trying to do some matched betting and my debit card is not accepted on the betting sites, but the egg card will be. I know its 0% for 3 months, but is there a way, say I deposit £60 into a bookie, that I can then instantly go into egg and pay off the £60 from my account (the account that has the money for the debit card that wont work)

2. I get 12 months 0% interest on balance transfers, so say I want to buy something on the card after 3 months, would it be better to balance transfer the money into my account and spend out of the account rather than on the card?

My credit limit is £2500 so if I balance transfer all of that out into my account, what would the minimum monthly repayments be?

YorkshireBoy

1. Why not send the money to Egg first and create a positive balance? That way, whilst you may still incur a gambling transaction fee (3%?), at least you won't pay any interest at cash withdrawal rates.

2. You'll pay a 3% BT fee, for the privilege of having some money at 0% just in case - which you'll then have to start repaying the next month even if you haven't bought anything! Your decision.

3. 2% of the amount transferred.

Jaxx_uk

ok, so I can put money into my egg card account (i say account as it shows up as an account on my egg money manager) and then just spend what I put over on the card. So if I wanted to deposit £60 into a bookie, I would need to put in £60 + 3% of £60 into the egg card account?

YorkshireBoy

Jaxx_uk wrote: »

ok, so I can put money into my egg card account (i say account as it shows up as an account on my egg money manager) and then just spend what I put over on the card.

That is my understanding.

So if I wanted to deposit £60 into a bookie, I would need to put in £60 + 3% of £60 into the egg card account?

No, you'd need to deposit £3 because that's the minimum charge. Anything less than a £100 bookie deposit will mean a greater than 3% charge. For example, a £10 deposit will incur a 30% charge!!

Why not open another debit card account, or ask your provider why their card isn't being accepted (assuming the fault is not with the bookie)?

BTW, your minimum payment question and the fact you didn't know there was a £3 minimum charge for the cash withdrawal implies you haven't read your Egg T&C's. Could I suggest you do so before you start to use it.