Egg Money / MoneySavingExpert.com Discussion Area

digital

I'm not sure it's a good idea to transfer money onto an Egg Blue (Egg Money) card.

I've just used the card to 'receive' money from a balance transfer. I had £500 of purchases already on the card and transferred £2000 in. This produced a credit balance of £1500. I cannot now transfer the full £2000 on and into my high interest savings account as that would put the account back into a debit balance of £1500 through a 'cash withdrawal'. Only £1500 can be transferred and still avoid interest charges.

I realise that I would have had to pay the £500 debit balance sooner or later, but this problem has made it sooner!

charlie12

digital wrote:

I'm not sure it's a good idea to transfer money onto an Egg Blue (Egg Money) card.

You've only lost out on the interest-free period for the £500. If you had that £500 kept in savings instead you may have earnt a pound or two in interest but surely it's not too much of an issue since you have taken advantage of the SBT feature to transfer funds to your current account without incurring fees. A small price to pay for a card feature that is becoming very hard to come by.

digital

charlie12 wrote:

You've only lost out on the interest-free period for the £500.

I realise that. It was more a warning to anyone who thought they would be able to get at all of a payment into the account and who might consequently find themselves 'embarrased'.

coolio_2

just a quickie, i have an egg blue, will i be sent out the new money card or can i just continue to use the blue and still get 10% cashback from apple?

charlie12

coolio wrote:

just a quickie, i have an egg blue, will i be sent out the new money card or can i just continue to use the blue and still get 10% cashback from apple?

AFAIK they won't be sending out new cards for blue cardholders but the blue card accounts are now essentially identical to Egg Money accounts, so you can just use your current card to get the cashback. Don't forget to use the Egg Money affiliated link in order to get the cashback

However it's best to check with Egg if you have any doubts.

maltesesimon69

i got this card the day it was born,i love it!!!!6.9% if i borrow so its as good a rate as my platinum card...and 4 percent in cred,plus cashback of 1 percent,effectively makin it 5 % in real terms.no charges at all for withdrawing your cash whilst in credit... AMAZING,i love it!!

Prav

Hi - just received my first statement online.....should I expect a paper statement too?
Thanks

charlie12

Prav wrote:

Hi - just received my first statement online.....should I expect a paper statement too?
Thanks

Egg don't send out paper statements although you may be able to request copies for a fee.

Matt83UK_2

no charges at all for withdrawing your cash whilst in credit..

I'm pretty sure there's no charges regardless of +/-.

charlie12

Matt83UK wrote:

I'm pretty sure there's no charges regardless of +/-.

There are no cash withdrawal fees regardless of +/- but you will obviously be charged interest at the cash withdrawal rate if you are not in credit (or for the portion that is not in credit). I think that's what the poster was getting at.