The Egg credit card has long been thought of, as the credit card that you really felt that gave you a sense of loyalty, with low APR on it’s original Green card of 9.9% being very competitive and fair, but also the card gave you a cash payback of 1% on all your purchases. Day’s have changed now with the APR rising 4% to 13.9% and cash back falling 0.9% to 0.1%, which is a big drop, which is made even more noteworthy, by the fact that some are giving 2% in cashback.

New Egg deal.....

These cuts really came to the fore when Egg were announcing they’re new “Anniversary Balance Transfer” offer, which would let customers of Egg to have a 5 month 0% period every year, until the year “2006”. This is guaranteed, though Egg have said it may be extended for a longer period, though it may not be the same length of time as the previous years.

Time To Make Money With Balance Transfers
Super Balance Transfers – Save Even More Money!
Cash Back – Something For Nothing
Saving Money With Balance Transfers

Now read carefully......

This on the face of it looks like a very good deal and on the back of the APR rise and the reduction in what you receive in cashback, it will seem as the “Anniversary Balance Transfer” deal more than make’s up for this. But there is a catch, than when flicked will open up a financial debt door if you are not careful. This is due to Egg rising the APR to 13.9%, with the deal on the balance transfer sitting nicely and not costing you any extra interest; you may think that with the money you are saving that you will go on a small spending spree with the cash you have saved. DON’T this is when you will flick the switch to that door you are going to fall into and land a whole lot of interest on the purchases that you have made. This is due to Egg taking the payments that you are making each month into your account and setting them against the cheaper debt which is the 0% balance transfer, rather than against the new purchases debt that is now going to accrue interest until the honeymoon period is over.

Here is how to save cash.........

Now if you think that the original deal is a good one and you wish to make use of an Egg credit card are worried that you might flick the catch, then let me show you a way of keeping that catch were it belongs and out of your pocket.

If you have any debt already sitting on the card then move it to another credit card with a balance transfer facility, once it is there make sure that you receive conformation that your balance is now at Zero. Once this has been established you simply transfer the whole amount back to your Egg card to receive the 0% “Anniversary Balance Transfer” for a further 5 months, this means all of your debt is under the umbrella of 0%, rather than some at the 13.9% and the new debt at 0% it’s quite simple really.