Credit > Credit Cards > UK Credit Cards > Egg

Egg Credit Card

Egg is now one of the UK's most famous online banks, and if you like keeping as much of your banking online as possible, this could be a good card to look at.

While this card doesn't have a rewards programme, it does offer some great special introductory interest rates.

Introductory Interest Rates

Firstly, there is a very competitive balance transfer offer with a rate of 0% p.a. for the first 9 months of card membership.

You can also take advantage of an introductory rate on purchases too. As with balance transfers you won't pay nay interest for the introductory period, but in this case it is for the first 6 months of card membership.

Unlike most other credit cards currently available, the Egg card offers further balance transfer offers. There are anniversary offers that occur both 1 year and 2 years after you originally sign up for your account. Each time you will again get a rate of 0% p.a. on balance transfers and in this case the offer last for 5 months.

Standard Interest Rates

Once the introductory or special rate period is over any outstanding balances will revert to the standard interest rate. This is currently a Typical 15.9% APR variable on both balance transfers and purchases.

You will find that, as with most credit cards, cash withdrawals are charged at a slightly higher rate, which is currently at 20.9% p.a.

Other Card Features

As mentioned earlier, this could be a great card if you like to do all your banking online. The application has no paperwork and it takes only minutes to apply online. You will also receive statements online. You should be aware, though, that if you do want to receive a paper copy of your statement there is a £2 fee. You can, of course, print your statement out from online.

You can also benefit from up to 45 days interest free credit with this card if you pay your statement balance in full and on time. There is also no annual fee with this card.

The card also features active fraud monitoring so you can have peace of mind when shopping both off and online.



Summary Table

Standard Interest Rate	Typical 15.9% APR Variable
Balance Transfers	Typical 15.9% APR Variable
Cash Advance Interest Rate	Typical 20.9% APR Variable
Rewards	None
Annual Fee	None
Online Account Access	Yes
Purchase Protection	Yes
Interest Free Period	Up to 45 days
Late Payment Fee	£20

Credit Sources Review

This seems to be a good basic card, especially if you are planning to transfer balances to the card both now and in the future. The anniversary balance transfer offer is something I haven't seen elsewhere. Do be aware, though, that even though there is no interest to pay on balance transfers, there is still a fee to transfer the balance in the first place. However, this is common with most cards.

Other fees and standard interest rates are fairly comparable with similar cards. However, there is currently no rewards programme with this card so if that is something that particularly interests you, you may want to look elsewhere.

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