Egg Credit Card

Millions of Egg cardholders run the risk of falling through an expensive trap door in the company's ‘Anniversary' offer. Yet this deal is a sneaky loophole, which bolts up that trap door, allowing new and existing customers to repeatedly enjoy 0% interest year after year, whilst protecting their credit score.Egg has finally killed off its former reputation as the 'white knight' of the credit card world. Egg launched in 1999 with 8.9% interest and paying 1% cashback on all spending, yet now charges 16.9%, while base rates have dropped during the same period. Its previously competitive cashback is now negligible; it pays a disgustingly tiny 0.1%. Anybody using Egg for cashback should ditch their cards immediately, you can get up to 3% cashback with the best cards.Egg offers two card products; by far the most common is its original credit card, and it's this I'm talking about in this article. The other is the specifically branded, much newer Egg Money card. If you have that, it will clearly say 'Egg Money' on it, and this article isn't relevant to you.Egg's ‘anniversary balance transfer offer' promises that in May 2009 and 2010 customers may transfer debts from other cards to Egg at 0% interest for five months, with a 2.5% fee of the amount you transfer.Even though the rate reverts to 16.9% when the period is up, on the surface this sounds like a decent offer. Yet there is a massive catch.Egg knows most people using this offer will have existing debts on the card and/or will use it for spending. The interest rate for those is still a large 16.9%, as they're not part of the cheap 0% balance transfer offer.