Get 1% cashback: Eggcard compared (Egg Card)

Member Name: Charles Herbert

Product:	Egg Card
Date:	28/06/00 (708 review reads)
Rating:

Advantages: You get money!

Disadvantages: Has to be managed online (But that is a plus for me)

If you want 1% of your credit card purchases retruned to you, then Eggcard is for you. Particularl, if you repay your credit card in full each month, the Egg card is good value as get 1% of all you spend through the card back.

The way it works is that:
- each month a running total of the charges to your card is kept and of the 1% that you are due (actually it seems to work out a little over 1%).
- at the end of a year (the anniversary of starting the card) you get the total of the money back credited to your Eggcard.

If you spend 500 pounds a month, that's sixty pounds or more a year. (Plus, there is no charge for having the card).

It compares well with Alliance & Leicester's card which offers money back BUT only gives 0.5% on the first few thousand pounds, that means it can be months before you break into the 1% area. Also, it stops the count at the calendar year end (not the twelve month anniversary), so you can be back to 0.5% again after just a few months :-(

Eggcard also has two other big advantages over A&L
- you can manage your card over the web
- you can have the full balance paid off by Direct Debit every month (A&L only allow you to have the minimum payment made by Direct Debit every month and the time they give you to make your full payment is tighter than most cards)

It also offers good rates for transferred balances etc., but the nature of new credit cards is that these are all liable to change.

Summary: