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Old January 2nd 06, 09:41 PM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

I'm confused, as I am getting conflicting messages about this card. One is
that "there is no interest free credit period". The other is that you have
"up to 50 days interest free credit". If - say - the statement date is
1/1/06, how soon after that do you have to pay before incurring the
"typical" 6.9% interest charge? I can't see any relevant information on the
Egg web site. (Typical? I've been an Egg customer for over 6 years, and I
was offered 15.9%. I have an "excellent" credit record - according to
Experian.)
--
Brian



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Old January 3rd 06, 10:25 AM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

On Mon, 02 Jan 2006 21:41:03 GMT, "BrianW" wrote:

I'm confused, as I am getting conflicting messages about this card. One is
that "there is no interest free credit period". The other is that you have
"up to 50 days interest free credit". If - say - the statement date is
1/1/06, how soon after that do you have to pay before incurring the
"typical" 6.9% interest charge? I can't see any relevant information on the
Egg web site. (Typical? I've been an Egg customer for over 6 years, and I
was offered 15.9%. I have an "excellent" credit record - according to
Experian.)


My Egg Money statement day is the 5th of each month, with payment due
on 24th, so that's 19 days interest free credit.

Chris

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Old January 3rd 06, 10:33 AM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

On Tue, 03 Jan 2006 10:25:25 +0000, Chris Blunt
wrote:

On Mon, 02 Jan 2006 21:41:03 GMT, "BrianW" wrote:

I'm confused, as I am getting conflicting messages about this card. One is
that "there is no interest free credit period". The other is that you have
"up to 50 days interest free credit". If - say - the statement date is
1/1/06, how soon after that do you have to pay before incurring the
"typical" 6.9% interest charge? I can't see any relevant information on the
Egg web site. (Typical? I've been an Egg customer for over 6 years, and I
was offered 15.9%. I have an "excellent" credit record - according to
Experian.)


My Egg Money statement day is the 5th of each month, with payment due
on 24th, so that's 19 days interest free credit.


Sorry, that should have read "at least 19 days interest free credit".
The "up to 50 days" you mentioned sounds about right.

Chris
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Old January 3rd 06, 11:04 AM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

On Tue, 03 Jan 2006 10:33:35 +0000, Chris Blunt
wrote:

Sorry, that should have read "at least 19 days interest free credit".
The "up to 50 days" you mentioned sounds about right.

Chris

But isn't this card the OP talks about their new-fangled con which is
designed to act as a savings as well as credit facility that has no
such delay before interest is charged?

Tiddy Ogg.
http://www.tiddyogg.co.uk
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Old January 3rd 06, 05:59 PM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

On Tue, 03 Jan 2006 11:04:03 +0000, Tiddy Ogg
wrote:

On Tue, 03 Jan 2006 10:33:35 +0000, Chris Blunt
wrote:

Sorry, that should have read "at least 19 days interest free credit".
The "up to 50 days" you mentioned sounds about right.

Chris

But isn't this card the OP talks about their new-fangled con which is
designed to act as a savings as well as credit facility that has no
such delay before interest is charged?


He asked about an "Egg Money" card. That is the card that I based my
answer on. What card are you talking about?

Chris
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Old January 3rd 06, 06:56 PM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

Chris Blunt wrote:
On Tue, 03 Jan 2006 11:04:03 +0000, Tiddy Ogg
wrote:

On Tue, 03 Jan 2006 10:33:35 +0000, Chris Blunt
wrote:

Sorry, that should have read "at least 19 days interest free
credit". The "up to 50 days" you mentioned sounds about right.

Chris

But isn't this card the OP talks about their new-fangled con which
is designed to act as a savings as well as credit facility that has
no such delay before interest is charged?


He asked about an "Egg Money" card. That is the card that I based my
answer on. What card are you talking about?

Chris


Thanks Chris. Part of my confusion was caused by the "helpful" gentleman
from Egg who phoned me to "explain" how the card was to be used. "Basically
you should use it like a debit card." "There is no interest free credit
period." (Yes he did say that.) Myself I prefer to hear the experience of
somebody who actually uses the card, so again thanks. Why couldn't Egg make
this clear somewhere though? Hopefully not like they made my debit interest
rate clear - it went from "to be advised" to "as previously notified"! (He
phoned me when I moaned having - after a secure message - been told that it
would be 15.9%, and not surprisingly jumped up and down a bit.)

I like the idea of prepayng into the card, as otherwise the money would
languish in my current account getting 0.1% interest. (Ok I know...) Lets
hope that they are rather more competent in managing the card than they were
setting it up though.

As for long term, I have my doubts. I took out the original Visa card
because of the 1% cashback. They then reduced it to 0.5% "in response to
overwhelming customer demand", which is when I stopped using it. Later it
was reduced to 0.1% then abolished altogether. Despite hardly using it for
the last 4 years, they regularly referred to me as "one of their most valued
customers", and kept raising the credit limit. These people certainly have a
good line in doubletalk.

Brian


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Old January 3rd 06, 10:05 PM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

On Tue, 03 Jan 2006 18:56:29 GMT, "BrianW" wrote:

Chris Blunt wrote:
On Tue, 03 Jan 2006 11:04:03 +0000, Tiddy Ogg
wrote:

On Tue, 03 Jan 2006 10:33:35 +0000, Chris Blunt
wrote:

Sorry, that should have read "at least 19 days interest free
credit". The "up to 50 days" you mentioned sounds about right.

Chris
But isn't this card the OP talks about their new-fangled con which
is designed to act as a savings as well as credit facility that has
no such delay before interest is charged?


He asked about an "Egg Money" card. That is the card that I based my
answer on. What card are you talking about?

Chris


Thanks Chris. Part of my confusion was caused by the "helpful" gentleman
from Egg who phoned me to "explain" how the card was to be used. "Basically
you should use it like a debit card." "There is no interest free credit
period." (Yes he did say that.) Myself I prefer to hear the experience of
somebody who actually uses the card, so again thanks. Why couldn't Egg make
this clear somewhere though? Hopefully not like they made my debit interest
rate clear - it went from "to be advised" to "as previously notified"! (He
phoned me when I moaned having - after a secure message - been told that it
would be 15.9%, and not surprisingly jumped up and down a bit.)

I like the idea of prepayng into the card, as otherwise the money would
languish in my current account getting 0.1% interest. (Ok I know...) Lets
hope that they are rather more competent in managing the card than they were
setting it up though.

As for long term, I have my doubts. I took out the original Visa card
because of the 1% cashback. They then reduced it to 0.5% "in response to
overwhelming customer demand", which is when I stopped using it. Later it
was reduced to 0.1% then abolished altogether. Despite hardly using it for
the last 4 years, they regularly referred to me as "one of their most valued
customers", and kept raising the credit limit. These people certainly have a
good line in doubletalk.


I don't think its a good idea to keep a credit balance in the Egg
Money card account. For one thing, 4% is not a particularly good rate
of interest. You can do better than that elsewhere. Secondly, they
debit your credit card transactions from your positive balance on the
day they are charged to your account, so you don't get any interest
free period at all.

Just use the card as you would any other credit card. Pay off the
account in full on the due date, and get the 1% cashback each year.

Chris
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Old January 3rd 06, 10:05 PM posted to uk.finance
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Default Egg money card - difference between statement date and payment date

On Tue, 03 Jan 2006 17:59:09 +0000, Chris Blunt
wrote:

On Tue, 03 Jan 2006 11:04:03 +0000, Tiddy Ogg
wrote:

On Tue, 03 Jan 2006 10:33:35 +0000, Chris Blunt
wrote:

Sorry, that should have read "at least 19 days interest free credit".
The "up to 50 days" you mentioned sounds about right.

Chris

But isn't this card the OP talks about their new-fangled con which is
designed to act as a savings as well as credit facility that has no
such delay before interest is charged?


He asked about an "Egg Money" card. That is the card that I based my
answer on. What card are you talking about?


Ignore my last comment. I misread "isn't this" for "this isn't" in
your post, which gave it an entirely different meaning. I must get
something done about my dyslexia. ;-)

Chris
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Old January 5th 06, 01:20 AM posted to uk.finance
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First recorded activity by FinanceBanter: Sep 2004
Posts: 99
Default Egg money card - difference between statement date and payment date


"BrianW" wrote in message
...
I'm confused, as I am getting conflicting messages about this card. One is
that "there is no interest free credit period". The other is that you have
"up to 50 days interest free credit". If - say - the statement date is
1/1/06, how soon after that do you have to pay before incurring the
"typical" 6.9% interest charge? I can't see any relevant information on
the Egg web site. (Typical? I've been an Egg customer for over 6 years,
and I was offered 15.9%. I have an "excellent" credit record - according
to Experian.)
--
Brian


I rejected the 15.9 offer, re-applied after 3 months , changed the answers I
gave just a little and was approved at the 6.9 rate.

I don't know the other answers as I have only just received the card.

I re-applied after reading the advice of 'moneysaving expert' who reckon it
is a useful account for 'stoozing' purposes.

mrcheerful




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