New Egg Card Rewards Online Shoppers

Monday, June 14, 2010 - 15:23 by Graham Miller

Egg, the internet bank, is launching a new credit card that offers those who enjoy safe shopping online cash-back on their internet purchases. More than 1,500 retailers in the UK have already signed up for the scheme.

This new Egg Visa card will give users a free membership for Quidco the internet cash-back discount site. This, in turn, will provide money off items for consumers buying from a range of well-known online retailers such as iTunes, Marks and Spencer and Holland & Barrett.

The cash-back you can receive via Quidco can be as much as 10 per cent of the purchase price and each month it is credited to the account of your choice. One feature of the new Egg card is peace of mind when it comes to safe shopping online, including refunds if items bought online turn out to be faulty or do not turn up.

Head of Egg cards, Harald Schneider said "The idea is to give consumers complete peace of mind when ordering online. Good retailers will offer protection already but we are adding to that. We have always been pioneers online and retail spending is growing massively over the internet. This card keys into the zeitgeist that consumers want a better deal and are looking online for the best possible price in these thriftier times."

However consumers need to be aware of the card's other features, the interest at 17.9 per cent is relatively high so if you accumulate a significant balance on the card and leave it for any length of time, the benefits from the cash-back will become minimal. The best advice is to enjoy the cash-back but to pay back your balance every month.

For those who do a lot of shopping online and who manage their finances well, this card and its cash-back option could prove to be of significant benefit.