Egg Money Interest Rate Hike

clio

Ahh i see never mind at least it,s an insight into what they can hike it up to if they really want to...

windswept

We haven't received an email - we've only had the egg money card for a few months and I'm planning to do a lifetime BT from Barclaycard for £5k to make the egg money £4500 in positive balance to see us through a short term income drop.
Will it cost me anything to transfer approx. £600 a month into our bank account? I take it that the 3% fee is only for atm withdrawal.
It's a good job I've just got a Barclaycard simplicity card if they're going to hike up the egg money rate, (although it will be in + balance for at least 8 months )- they wouldn't give one to hubby as he has a gold barclaycard (with no outstanding balance) but I've yet to receive it and have no idea what my limit will be as it's my first card in my name.

Paul_Herring

CopperPlate wrote: »

As I said above, jokingly, at what point will they consider reducing either the in-credit interest rate

Um - the crap rate they were offering in-credit rate was why I asked for an increased limit. That was 2 years ago, and it's not changed. It's still below the RPI at the moment, and still not attractive.

CopperPlate_2

Yeah, much rather have the cash offsetting my mortgage than earning pence on Egg.

So - do we have any bets as to what's next to get the chop?

clio

can anyone help me understand this i made payment to Egg and it shows in my recent transactions like this.
30 July 2008 PAYMENT RECEIVED - THANK YOU £-600.00 CR

But it has not come of my balance which i find strange also ive never seen the - [minus sign before either]

surreysaver

CopperPlate wrote: »

Why don't you set it up to pay the 'full negative balance'. That way it won't take any more DD's until you spend on it and move the balance into debit.

I thought setting it up to pay the minimum payment would have the same effect?

benf90

surreysaver wrote: »

I thought setting it up to pay the minimum payment would have the same effect?

It would do, but I think they suggested changing it to the full balance as selecting the minimum isn't working in your case, for whatever reason, most likely an error/quirk with their system.

Or, better still... phone them up and they'll be able to change it for you.

dld2s

My timing was brilliant, not! I recently did a large balance transfer to my egg card (not really for me but my son) as he was paying around what Egg are now going to charge,oh well have to look at my cards again and will probably dump egg once clear

benf90

clio wrote: »

can anyone help me understand this i made payment to Egg and it shows in my recent transactions like this.
30 July 2008 PAYMENT RECEIVED - THANK YOU £-600.00 CR

But it has not come of my balance which i find strange also ive never seen the - [minus sign before either]

The minus sign always appears whenever a payment shows on my statement. *

I've had that before (balance not updating straight away). It sounds like Egg have only applied that payment to your account today, however... they backdated it to 30th July.

The list of transactions and the balance appears to be updated separately when there's an additional payment made. I have no idea why, but occasionally if I make a debit card payment or a transfer from my savings account it'll show on the transactions list on one evening, but the balance doesn't update until some point during the night.

If you log in again tomorrow morning it'll probably have updated itself by then.

* Just checked my account. When its on the recent transactions list my payment shows with the minus sign but no CR. Once the statement is produced the minus sign is removed and replaced with CR after the amount.

clio

Ben cheers was worried incase the cash was floating around in the ether with out my name on it lol...

EDIT
Ben something like mine , my statement shows this which is different from the online recent transactions.
26 Jun 2008 PAYMENT RECEIVED - THANK YOU £600.00 CR

EDIT PART 2 LOL
mine says -600 [ recent transactions ] and on statement is says 600 CR so i,m the same as you so i,m now not worried hehe
cheers matey..