Egg Launches Next-Generation Credit Card
London – Egg, the internet bank, is launching a new credit card offering a unique package of rewards and benefits for people who want to get the most out of their card. The Egg Money World MasterCard will cost just £1 a month and is available beginning July 14.
Bert Pijls, CEO of Egg, said, "At Egg we wanted to create a card that gives people real value. So we reviewed the market, matched it against what certain customers want, and created one stand-alone card.
“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. It is also for customers who want certainty in their transfer rate so they can take more control of their finances while continuing to be rewarded for any new purchases.”
The new Egg Money MasterCard offers:
* 1% cash back on all purchases at 28.8 million MasterCard outlets worldwide – from a minimum of £5 to a maximum of £200 per year
* 8.9% life of balance transfer – with no balance transfer fee
* Egg Rewards – up to 25% off deals and discounts on 15 selected online retailers, including Lastminute.com, Virgin Wines and Figleaves
* Price promise - buy an item with your card costing more than £50 anywhere in the U.K. and if you find it cheaper locally within 30 days, Egg will refund the difference
* Purchase protection - covers items costing more than £75 bought with your Egg Money card anywhere in the world against theft, loss, or damage, for 90 days after the date of purchase
* Event cover - covers event tickets over £20 booked using your Egg Money card if you cannot attend
* Extended warranty - get 12 months’ additional warranty for any electrical item costing more than £50 bought with your card once the manufacturer’s warranty expires
* Personal travel accident insurance - while traveling as a fare-paying passenger or in any hire car
* Online spend tracker - online function that automatically categorizes your monthly spend on your online statement, e.g., travel and transport, going out and essentials
* Egg Money Manager - allows you to view all your online accounts from any bank on one page.
Pijls continued: "Egg Money is the only credit card to combine 1% cashback, discounts, protection and a low life of balance transfer rate. To offer this level and variety of benefits to customers there is a small fee of £1 a month; good value for what we believe is the best all round card on the market.
“Finally this card not only rewards and protects customers, but with tools such as the Spend Tracker and Egg Money Manager, it also helps customers manage their finances better.”
Application for Egg Money is an online paperless process giving customers instant decisions online.
Hany Fam, Group General Manager, U.K. & Ireland, MasterCard, said: “In today’s world, we’re reminded that life isn’t about what we have; it’s about what we value. The Egg Money World MasterCard delivers cashback, rewards and protection – three areas that really matter to consumers. We’re delighted to be strengthening our partnership with Egg to make payments simpler and more valuable for Egg Money cardholders.”
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