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Egg launches next generation credit card

Those who opt for the credit card will receive 1% cashback on all purchases of between £5 and £200 over the course of the year, although transactions will only qualify if they are a registered MasterCard outlet.

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13 July 2009

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Other features include 8.9% balance transfer rate and purchase protection on items that are priced over £75.

Commenting on the product, Egg chief executive office Bert Pijls said: "Egg Money is for people who want to earn cash back from either everyday spending or expensive purchases and be protected at the same time."

Additional features include 25% off purchases made with 15 selected retailers and access to Egg Money Manager, which allows customers to track their finances online.

Mr Pijls also said that the credit card package offers "certainty in their transfer rate so they can take more control of their finances whilst continuing to be rewarded for any new purchases" and that the credit card is the only one on the market to offer 1% cashback, purchase protection, "low life balance transfers" and retail discounts

Egg, which was originally formed in 1998, offers a range of financial services in addition to credit cards, including savings accounts and insurance.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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