| APR |
17.8% APR typical (variable)*
Rates from 17.8% to 22.8% APR, depending on individual circumstances.
*The APR is derived from the standard variable annual rate for purchases and the £1 monthly fee. |
| Other interest rates |
Introductory rate |
Monthly* rate |
Annual* rate |
| Purchases |
N/A |
1.313% to 1.667% |
16.9% to 21.9% pa variable |
| Balance Transfers put on the account until 1 February 2010 |
N/A |
0.716% |
8.9% |
| Balance Transfers put on the account after 1 February 2010 |
N/A |
1.313% to 1.667% |
16.9% to 21.9% pa variable |
| Cash Advances |
N/A |
1.667% |
21.9% pa variable |
* The rate you get will depend on your circumstances.
Promotional Rates are subject to you making your required monthly payments on time and keeping within your credit limit. |
| Interest free period |
- Maximum 50 days for new purchases if you pay your balance in full and on time.
- There is no interest free period on cash advances or balance transfers.
|
| Interest charging information |
The periods over which interest are charged are as follows:
| | From | Until |
| Purchases | The date the transaction is charged to your account | Repaid in full |
| Balance transfers | The date the transaction is charged to your account | Repaid in full |
| Cash withdrawals | The date the transaction is charged to your account | Repaid in full |
If you pay the balance in full, the interest charge for the period from the previous statement to the date of full repayment will be debited the following month. |
| Allocation of payments |
The minimum payment will be allocated to interest due, any card repayment protection premium, and charges (in that order) and then between the Revolving Balance and any Promotional Rate Transferred Balances (where applicable).
Any amounts over the minimum payment will be applied in the following order:
- Transferred Balances on which interest is charged at a Promotional Rate; and
- the Revolving Balance in the following order:
(i) Charges;
(ii) Cash Advances included in your current statement;
(iii) Transferred Balances put on your Account that are not or no longer charged at Promotional Rates and Purchases included in your current statement (including Purchases at a Promotional Rate).
(iv) Cash Advances put on your Account after your latest statement date; and
(v) Purchases put on your Account after your latest statement date.
- Please see Condition 5 of the Egg Money Credit Agreement for full information. |
| Minimum repayment |
The full Revolving Balance if it is less than £5, but otherwise the greater of
- 2% of the Revolving Balance or
- the total of (i) interest billed on the statement on the Revolving Balance
(ii)1% of the Revolving Balance
(iii) any Card Repayment Protection premium shown on your statement and
(iv) billed fees for late or returned payments shown on your statement, or
- £5
Plus, for each Transferred Balance on which interest is being charged at an Promotional Rate, the full Transferred Balance if less than £5, but otherwise the greater of:
- 2% of the Transferred Balance, or
- the total of (i) interest billed on the statement on the Transferred Balance and
(ii) 1% of the Transferred Balance,
- £5
|
| Credit limit |
| Minimum credit limit | £500 | | Maximum credit limit | Subject to status |
|
| Fees |
Monthly fee - £1 |
| Charges |
| Cash Advance | 3% (minimum fee £3)
(including purchase of foreign currency and travellers' cheques) |
| Non Sterling Transactions | 2.95% | | Top up fee | Where the amount of interest charged to your Account on any statement is less than 50p, the top up fee will be the amount required to make the top up fee plus interest equal to 50p | | Introductory rate balance transfers | No handling fee | | Special Promotion balance transfers | 3% or less. We will inform you of the handling fee when we tell you about the Special Promotion. | | Other balance transfers | 3% or less if we tell you |
| Paper copies of statements | £2 |
|
| Default charges | | Late payment fee | £16 | | Over credit limit fee | £16 |
| Returned payment fee | £16 |
|
| Illustrative Example |
For a purchase of £1,000 on your credit card... |
| Monthly Payment |
If you paid the Minimum Payment each month |
If you paid £50 each month |
| How much interest will you be charged in the first year? |
£115.79 |
£94.60 |
| How much interest will you be charged in the second year? |
£102.62 |
£29.46 |
| How long would it take to clear the balance? |
17 years & 5 months |
1 year & 11 months |
| The above example assumes the following: The transaction is charged to your account on 1 January and you make no further transactions. Your statement is produced on the 1st of each month and you always make the payment on the 15th of each month and you do not have card repayment protection. |
Egg Home > Bank > Egg Money > Egg Money summary > 
