Egg Card - The Most Audacious Scam Ever?

muffle_2 · 12 February 2006 at 8:44PM

I've just received the most incredible message from Egg when I queried an interest charge they made on my account, despite me paying the balance off in full:

Dear Steven,

Due to a recent change in the way interest is calculated, additional payments no longer affect the amount of interest that's applied to your account.

The only way to avoid any interest charges is to have your direct debit set up to take the full statement balance every month. Please note though that this will only take effect after the first full direct debit payment has been called for.

If you'd like us to reset your regular payment to this method please let us know, allowing for a minimum of five working days before the payment date.

In light of the above I'd be unable to refund the interest charge.

Thanks for your message.

Regards,

Greg Meredith
Internet Customer Services

So basically, unless you pay the full balance by Direct Debit, it doesn't matter whether you pay it off in full by another method or not! And I certainly did not know about this beforehand!

I am absolutely incensed by this and would like to ask if anyone has any advice on what I can do about this, or whether anyone else has been told this or knew about it.

Right now I feel like cancelling both my Egg credit cards, my savings account and my loan (except I don't have the cash to pay off the loan yet).

Due to this new policy I would recommend all potential customers to avoid Egg like the plague. They are scammers.

fairylights_2 · 12 February 2006 at 8:57PM

So, you got charged interest even though you paid in full? That's surely against t&cs?

Well, that puts me off Egg - more like rotten egg .. :rolleyes: Thanks for the warning!

The_Boss · 12 February 2006 at 10:31PM

Ditto putting me off. Well done Egg. You've cracked yourself.

vwman_3 · 12 February 2006 at 10:36PM

Glad I was refused an egg card now made my day

sicker · 12 February 2006 at 10:48PM

Had you cleared the balance by the date required on your statement. If you had I would speak to them again and ask for a further explanation as to why interest was charged. Some facts appear to be missing.

John

muffle_2 · 12 February 2006 at 10:53PM

The balance was paid in full by the due date - minimum payment by DD, the rest by BACS. There are no facts missing. It's simply the fact I didn't pay the full amount by DD.

I'm going to phone them tomorrow and give them one last chance before I take this further.

Steve_82 · 12 February 2006 at 11:01PM

That just ridiculous.

Have you got a copy of the Terms & Conditions from when you signed up?

PokerPortal · 12 February 2006 at 11:06PM

muffle wrote:

The balance was paid in full by the due date - minimum payment by DD, the rest by BACS. There are no facts missing. It's simply the fact I didn't pay the full amount by DD.

I'm going to phone them tomorrow and give them one last chance before I take this further.

Please update this thread after you have made your phonecall, because it is very interesting. At the moment, I am sure this can be sorted quickly, if all the given imformation is complete. I am a very happy Egg customer.

johnllew · 12 February 2006 at 11:09PM

I think there is more to this one than we have been told. This is from the current Egg Card T&Cs:

4.3 We will charge interest on all amounts making up the Balance on a daily basis at the relevant rate set out in Condition 4.1 above from the date each Transaction and Charge is made. Interest will be charged until the Balance has been repaid in full. We will not, however, charge interest on Purchases listed in your last statement, if you pay the Statement Total on or before the Payment Date. We may charge interest on interest if you do not pay your minimum payment.

Doesn't say anything about the total payment having to be by direct debit.

young · 12 February 2006 at 11:12PM

I just made a payment to Egg, not via DD

Keep us posted once you phone them on Monday morning. Sounds bizarre and indeed a scam by Egg if this is the case.

YorkshireBoy · 12 February 2006 at 11:33PM

My first thought was that this was caused by Egg's recent change which has extended the time it takes for debit card payments to be credited to your account.

However, muffle says he paid by BACS (which would imply an online banking payment from an external account) so I'm as confused as everyone else.

Egg Card - The Most Audacious Scam Ever?

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free