How do you guys use Egg Money.......

Zebedee69

I applied for an Egg Money card and was accepted. I like the way it works and could help me split my budget during the month.

Does anyone have the card? If so how do you budget using it and do you have any tips.

Zeb,

M_Thomson

Zebedee69 wrote: »

I applied for an Egg Money card and was accepted. I like the way it works and could help me split my budget during the month.

Does anyone have the card? If so how do you budget using it and do you have any tips.

Zeb,

I just use it as a credit card and pay it off in full every month to get the 1% cashback.

YorkshireBoy

Egg Money - stoozing guide

Egg Money - conventional use guide

Zebedee69

Thanks for that Yorkshire boy. Going to have a read.....

Zebedee69

Looks like il be putting my spending money on it every month and earning the interest and cashback.........

YorkshireBoy

Zebedee69 wrote: »

Looks like il be putting my spending money on it every month and earning the interest and cashback.........

You'd make over 3 times the interest PLUS the cashback by putting your spending money in a high interest savings account, using Egg Money as a credit card, and settling at the end of the month from your savings account.

CopperPlate_2

I use mine like a conventional credit card and have a reasonable credit limit for my needs (£4k). I have an offset mortgage so use an separate current account as a holding account which I pay money into as I spend it on the Egg Money card then when the bill is due the two balances should match (one in debit, the other in credit - although I always seem to have less in the current account to pay off the bill each month. Must be the mice... :rolleyes:) and I have a DD come off to clear the balance each month. The money sits in my account offsetting for a few weeks which 'earns' me more in savings on my mortgage than it would in interest on my Egg Money card.