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| Customer service | 4.9/10   |
|---|---|
| Value for Money | 4.9/10 |
| Reviewer Rating | 4.5/10 |
| Overall Rating | 5.1/10 |
The Egg Money Credit Card is a popular credit card from Egg that allows consumers to pre-pay on their balance before they start spending. Egg customers can also earn interest on any of their prepayments that don't get spent. With an extremely competitive interest rate of 6.9% APR for consumers who go into the red, it's easy to see why this credit card has been a good fit for so many people. If you have an Egg Money Credit Card then why not share your thoughts and write a review?
Full review by
hingysaid
on 6th Sep 2008
User Rating : 5
Respect :
0
Good Points: Not many these days i'm afraid. 4% APR on a positive balance, and 1% cashback.
Bad Points: High interest rate of 12.9% and small credit limit.
General comments: I've had an 'egg money' credit card since it was launched several years ago. At the time of accepting this credit card, it was without doubt head and shoulders above the competition, as you benefited from no annual fees, a 7.9 APR rate, 1% cashback as standard on all purchases, and up to as much as 10% cashback on specific purchases with specific retailers.
Alas this has all changed..... Egg money always gives a low credit limit in comparison to other lenders, which is not really a worry.... but over the course of the last year I have noticed its benefits slowly and without warning begin to shrink..... Cashback is no longer available with many of the retailers it once was, and those that remain, have seen for example, a rate or 10% cashback, reduced to 2.5%.
At the beginning of August 2008 Egg Money announced that the great APR rate of 7.9% was to be increased to 12.9%, which would come into effect in seven days.... not very customer friendly, and 12.9% is simply a run of the mill rate, and not one that would either attract a new customer or keep an existing.
In summary, the Egg Money card used to be a great card to use and own, but now I ' m afraid it has just become one of dozens you can choose from with more or less the same benefits... the only redeeming features that still stand are the 4% apr rate for a positive balance and the 1% cashback feature..... Other than that, it is no longer all singing and all dancing as it once was - although I have no doubt the world credit crunch has played a major role in the demise of the cards once great features.
hingysaid's review and ratings | 305 words
Review by
martynia
on 5th Aug 2008
User Rating : 1
Respect :
0
I've been an EGG Money customer for more that 2 years now, 7.9%APR, no fee for cash advances, really good ! Until ... 1.08.2008 when I received an email informing me that the APR goes up to 12.9% for purchases, and to 16.9% for cash advances, effective from 04.08.2008. They kindly ;-) agreed to refund extra costs should I decide to cancel my agreement within a month. I'll definitely do ! Have still to find a friendly place for my debt, though...It's really annoying, their card is now a typical ...
martynia's full review | 133 words
Review by
nej1977
on 8th May 2008
User Rating : 10
Respect :
0
I love my Egg money card. I've had it ever since it was trialled with existing customers and use it for almost all my spending, even for small amounts. The cashback rate has been consistently good for the three years I've had it and the occasional special double cashback offers are a bonus too. The egg website is the best example of online banking I've come across (and I've seen a few!) and being able to manage your PIN online is great. The Money Manager tool is great as it allows you to aggrega ...
nej1977's full review | 197 words
Review by
Guest.
on 17th Apr 2008
User Rating : 0
Respect :
0
It usually takes nearly a week to get a proper response from customer service email as the voice recognition on the telephone system sucks.You can also never reply to an email straight after receiving one as it comes up unable to send please try again,leave it for an hour and then it works
Guest.'s full review | 58 words
Review by
Gunda
on 20th Dec 2007
User Rating : 2
Respect :
0
Egg Money: not worth the hassle
If you want to be treated like a child (credit limits), live in fear of blocked payments and account, go for it!
- their online banking is not very user friendly
- you cannot move a positive balance from Egg Money to Egg ISA
- their credit limits are very small (I got more as a student!)
- their security policy is madening; larger amounts get blocked; we had to unblock an account phoning the UK from South Africa (and waiting endlessly in the queue); our accou ...
Gunda's full review | 154 words
Review by
sunymuny
on 2nd Sep 2006
User Rating : 8
Respect :
+1
Overall good product and reward for using it. One of the best cards in market for cash back. Just using it keeps building normal cash back of 1% apart from the special cash back deals online on Egg's website. Customer service is very quick and the best part is being able to send a Secure message for a query so don't have to wait on the phone and stay in queues for the answers to your question.
sunymuny's full review | 88 words
Review by
Robby99
on 31st Aug 2006
User Rating : 0
Respect :
-1
Despite being a model customer for over two years, Egg have just written (August 31 2006) to increase the APR on credit card purchases and balance transfers from 15.9 to 21.9% - up 6%. What that would have been if I had been a poor customer does not bear thinking about! I'm off to another credit card provider. The BT rate is very nice for 6 months, but EGG obviously offer this to suck you in.
Robby99's full review | 69 words | 1 comment added.
Review by
XX
on 24th Feb 2006
User Rating : 10
Respect :
+1
I got an Egg Money Credit Card as soon as it was available. It works just like an ordinary credit card with no annual fee, and normal interest free period, plus they do not charge a fee for cash withdrawals. However, please watch out, as cash advances are not qualified for any interest free period.
So far I am happy.
XX's full review | 96 words | 4 comments added.
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