Egg Money goes downhill after Citibanks changes kick in

The Egg Money card used to be one of the handiest cards that I had, despite the dopey hamster adverts.

You could use it as a savings account as it paid 4% (up until a few months ago) when you’d overpaid and indeed they encouraged you to do this. The original plan behind the card was that you’d use it essentially as a current account and therefore the credit limit was really an overdraft limit. Not only that but they paid 1% cash back on everything that you bought and even more if you bought from a small range of shops. Finally, because it was intended as a current account replacement, you could withdraw cash at no charge.

However, this year Citibank killed all that stone dead.

The 1% rebate remains, but now there’s no interest paid if you’re in credit, the limits remain pitifully small and it’s now 3% to lift cash. So it’s become an also-ran credit card. Sad to see such an innovative product killed but it’s worse that that as the security methods of Citibank are used too. Thus if you try to spend more than £200 or so in a single transaction the shop needs to call up for an authorisation number and if you use it more than twice in a single shop in a day then it’s blocked.

Unfortunately, it looks like I’m going to have to abandon this card as I had to with a previous Citibank card basically because of Tesco… today’s petrol, then the thank you card for James’ teacher, then the groceries mean it’s blocked, again.

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