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using a credit as a savings account
dynamite_dean
Posts: 2 Newbie
in Credit cards
I just wondered,
In South Africa you lets say you have a credit card limit of £1000 and now you put a positive balance on it say £1500 ie the credit card compnay owes you money provided you use the card occasionally - buy the shopping- you earn interest. Now can you tell me how does it work here with UK card companies, does it work the same? I kinda thought heck these guys are charging me 15APR on balance when in their favour but what happens when it is the other way round do they pay you 15APR ? -that would be a great savings plan!
many Thanks DD
In South Africa you lets say you have a credit card limit of £1000 and now you put a positive balance on it say £1500 ie the credit card compnay owes you money provided you use the card occasionally - buy the shopping- you earn interest. Now can you tell me how does it work here with UK card companies, does it work the same? I kinda thought heck these guys are charging me 15APR on balance when in their favour but what happens when it is the other way round do they pay you 15APR ? -that would be a great savings plan!
many Thanks DD
0
Comments
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they dont, in fact some cards wont accept a postivive balance and will refund0
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Get the Egg Money card (Mastercard) and you can use it in the way you require.
Don't confuse it with the normal Egg Credit Card (Visa) though.Best Regards,
V0
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