Am I better off with Egg Money card instead of Egg card?

Grade_A_Reject

jamesd wrote: »

Normal maximum limit for Egg Money is apparently twice take-home pay, according to the Egg underwriting person who was correcting my limit upwards after they failed to find my credit record when setting the original limit.

By that I assume they must be referring to your hourly rate. Egg Money gives pocket money limits.

Paul_Herring

Grade_A_Reject wrote: »

By that I assume they must be referring to your hourly rate. Egg Money gives pocket money limits.

While I detect a slight tint of hyperbole about your comment, I wouldn't disagree.

Egg intend the 'Money' card to be front loaded with money (hence the interest on positive balances.)

They sort of object to it being used as a 'normal' credit card, and fight tooth and nail to getting a reasonable limit on it.

PROLIANT

So who give the best limits? MBNA family, Egg or other?

clio

MBNA eveyone says that m8.

marvin

benf90 wrote: »

It wouldn't really matter if the OP applied for the Egg Money card and got a high enough credit limit anyway, because Egg don't transfer negative balances between the two types of cards.

The only way they'd be able to get the balance over to Egg Money would be by transferring it away from Egg first. If they're going to do that they may as well do what other people have suggested and look at 0% BT offers with other card companies.

SBT from bank account use cash in bank account to pay other Egg card.

clio

Paul
So Egg will turn funny seeing as i,m using my EM like a credit card??
surely if they wanted it used like a debit card they would not give you any credit limit.

jamesd

They haven't objected to my using mine as a credit card. During the discussion I had with the underwriter the reasons I gave for the increase were the accurate ones: to ensure that I'd have enough credit to pay work travel costs and other work expenses that can involve relatively high spending some months. No reason to object to that because it's not my own normal spending. The discussion probably wasn't harmed by the underwriter finding that when he called I was on a work trip in Germany.

CannyJock

Spoke to one of Egg's senior underwriters recently about a credit limit increase to allow me to spend up to 2k per month to lock in the £ 200 cashback.

Their stance was that because you can preload the card and it'll earn interest at 4% they don't need to give generous credit limits.

Paul_Herring

clio wrote: »

Paul
So Egg will turn funny seeing as i,m using my EM like a credit card??
.

Not at all. It's just that the limit that they seem to give some/most people prevent them from usefully using like a normal credit card.

marvin

Paul_Herring wrote: »

Not at all. It's just that the limit that they seem to give some/most people prevent them from usefully using like a normal credit card.

Not sure if this is a recent CITI thing as my EM card limit is the same as my Egg card was when they launched the original blue card some £8,000 (automatically got a EM card when they launched it.) and I do use it like a credit card put everything on it and pay the balance off at the end of the month.