the new egg money card

sicker

I applied on the morning it was offered. It did state 7 - 10 WORKING Days and I assume it will take even longer if, as I suspect, they have been inundated with applications.

John

charlie12

It's 16th September and they've announced their new cashback offers

10% off at Apple is the highlight for me, the Currys 10% is also decent

And these are paid immediately (or thereabouts) to your account, and is in addition to the 1% you automatically get! And it doesn't count towards your £200 yearly limit as far as I can see.

Hopefully these rates will also remain during the 2% offer in Nov/Dec.

charlie12

Milarky wrote:

Anyone with an Egg blue card going to Egg's website from this morning should see the link to their transcations screen from the front page changed to 'Egg Money'.

The Egg Money card is also showing in my Egg Money Manager now - from a new application, not an upgrade from blue. It still mentions Egg Blue all over the place though, guess they haven't bothered updating everything yet.

sicker

Me too Charlie12. I have just checked on moneymanger and although I have not yet received my card yet my credit card number is there. Need the card to activate it tho'

John.

charlie12

You can activate it with the card number from EMM. However I'm going to wait until the card is in my hands in case it doesn't arrive safely and gets used fraudulently.

roversbabe

Not got mine yet either - I applied on the launch date. Its on my egg money manager though.

rb

CopperPlate_2

Applied yesterday - was given the card with 15.9% APR, and a £1,700 limit - hmmm, not exactly useful. That's what I get for stoozing on other cards I suppose...:(

Cancelled the application after phoning their customer serivces and speaking to a helpful member of staff. Will clear the stoozed cards and apply once my credit rating has recovered from the battering it has recently received between opening FD accounts, re-opening my Smile Visa and having an unused flexible loan with cahoot ...:) Time for a financial spring clean...:D

CP

Graham_Devon

I don't see what all this fuss is about with the 15.9% thing. I have held a Blue Egg Card with Egg ever since they first came along, and have 15.9% on a credit limit of 7k.

Surely the 1% cashback on all spending makes this card one of the best out there, when you can literally go online and carry out all your financial transactions there and then.

I got it because it was 0.5% and made about £30 cash back from stuff I would have bought anyway. Already since it has changed over to 1% I'm on £7 cash back (what's that, about a month?) and this is just from normal spending. The balance is already paid off.

Then you have the added benefit of having 4% interest on credit if thats your thing. Don't see why people are getting annoyed with Egg, you can't have EVERYTHING from one card, surely?

The reason I have 15.9% is probably because I have about 5 active credit cards with a credit limit of about 32k! Dangerous stuff!

CopperPlate_2

Not bothered about the interest rate because I pay the whole thing off every month - currently gettign 1% from Citi - don't particularly trust Egg as it trumpeted the Egg card and offered good cashback rates, etc when it was first launched and has slowly eroded it until the stopped it altogether recently. Just wondering how long it will be before they cut the Egg Money rate to 0.5% or the in-credit interest rate but still remain "competitive". Maybe I'm just being cynical. Also, the rate you're getting when you're in credit might be 4% but it's 4% of an ever declining balance so it's surely not going to amount to that much? Haven't done the calculations - don't have the incentive, but I'm sure someone will, and prove me wrong to boot - but even though you paid in £1000 a month, and started spending, you'd be getting a fraction of 4% a month on a declining balance - must only amount to a couple of pounds at the very most. A bit of a gimmick perhaps? Rather spend on my citicard, get my 1% CB, and put the money needed to pay the bill into a higher interest savings account at the start of the month.

CP

charlie12

If you already have a 1% (or better) cashback credit card, and a savings account that pays a decent rate, and you're not interested in the 2% cashback Christmas deal or the higher rate cashbacks from certain shops, and you don't need a spare mule card,

then you won't benefit from getting an Egg Money card

CopperPlate, I can see why the card isn't particularly attractive for you, fair do's

For me personally if they drop the 1% cashback rate I'll just switch to another card.