Egg Launches Next Generation Credit Card

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 from 14 July.

LONDON, United Kingdom--(EON: Enhanced Online News)--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.

“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 whilst 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 UK 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 travelling as a fare paying passenger or in any hire car
• Online spend tracker - online function which automatically categorises 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, UK & 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."

For more information on Egg or its products please visit http://www.egg.co.uk.

Notes to editors:

About Egg

Egg is the UK’s leading online bank providing banking, credit cards, insurance and investments through its internet site and other distribution channels. To find out more visit http://www.egg.com.

Egg Money World MasterCard

Egg Money World MasterCard typical variable APR will be 17.8%, which is derived from the standard variable annual rate for purchases of 16.9% and the £1 monthly fee. The balance transfer rate of 8.9% pa is fixed for the life of any balance transfer made before 1 September 2009. Further conditions will apply.

Price promise

• Buy an item with your Egg Money card costing more than £50 anywhere in the UK and if you find it cheaper within a 30 mile radius within 30 days, we’ll refund the difference.
• You can claim up to £375 per item and up to four items per year.
• Internet purchases are not covered.

Extended warranty

• Get 12 months’ additional warranty for any electrical item costing more than £50 bought with your Egg Money card once the manufacturer’s warranty expires, for up to 24 months from the date of purchase.
• You can claim up to £1,500 per item and claim for up to five items per year.

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.
• There’s a £3,000 limit per item and up to £6,000 per claim to a total limit of £15,000 per cardholder per year.
• Items lost or stolen must be reported to the police within 36 hours.

Missed Event cover

• Covers event tickets over £20 booked using your Egg Money card if you are unable to attend.
• Maximum four tickets up to a maximum of £100 per event per year.
• Unlimited events per year covered, anywhere in the world.

Personal travel accident insurance

• For you as an Egg Money Cardholder, your spouse or partner and your dependent unmarried children while travelling as a fare paying passenger or in any hire car.
• If you have an Accident and suffer Bodily Injury which alone and within 24 months of the date of the Accident, causes death or permanent disabilities whilst:
• A fare-paying passenger whilst getting on or in, travelling on or in or getting off or out of Public Transport
• A passenger in a hire car with chauffeur
• A driver or passenger in a rented vehicle
• In an airport, seaport, railway station or bus station for the purpose of boarding Public Transport.

This is not a substitute for traditional travel insurance.

You are eligible for this cover if you are an Egg Money Cardholder and the cost of your trip has been totally or partially paid for with the card.

Eligibility

• You are eligible for this cover if you are an Egg Money Cardholder.
• You must pay for the item in full, with a single transaction using your Egg Money Card, for cover to be in force.

Egg Visa Card

• No fee
• 0% interest until 1 August 2010 on balance transfers put on the account by 1 October 2009 (plus 3% fee).
• 0% on purchases until 1 October 2009.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com.