I recently applied for an Egg credit card with a view to transferring a balance onto the 0% offer. Having taken delivery of the card I have noted some really nice touches.
- The activation is all done online
- You have access to your PIN through the online interface
- Balance transfers can be done online
- You can choose to pay however much you want to pay each month
The last point is certainly one to keep in mind if you are using the card as I am, for a 0% deal. If you are looking to make a dent in the bottom line figure you will need to pay more than the minimum but presumably not the full amount (or you wouldnt have the card).
The Egg interface lets you give a set amount to pay each month, which is fantastic to work out how much you will owe at the end of the 0% period. The best way of using this is to divide the interest free months by the outstanding balance, then at the end of the 0% period you will have paid the card off.
Of course you may not be able to do this, but it is a great feature to have and I wish more credit cards had such a feature, as opposed to relying on you to make manual transfers every month if you want to pay more than the minimum.
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