Egg Card - reviewed all accounts - APR shot-up

ubernick

A warning to all Egg Card users. I received an email today to let my know my new interest rate for new purchases and balance transfers has shot up to over 21%.

I assumed this applies to my previous balance transfer rate. Unfortunately I forgot to ask the person who kindly repeated the same script to me and seemed oblivious to any questions I asked.

This doesn't really come as much of a surprise from someone who used to be a CitiBank customer..

mariusvb

i have received same email ;(

dhassen

has your introductory 0% deal ended? I'm still in mine and wondered if it was for customers whose deal has ended. Do you two pay off in full every month or do you have debt on the card?

Staciep88

i have an egg card, havent received this email. I got an egg card whilst it was advertising 0% on balance transfers for 12 months, and I have about £450 on there, will this effect my 0% deal?

ubernick

Yes, the deal has just ended. I took out the card in September 07, and I do have a balance on it. I'll have to stop using it and just make an effort to pay off more each month, and just stick to my Amex charge card.

Needless to say I wont be using any Egg or Citibank services in the future.

dhassen

They all seem to do that... bad luck ubernick.

Have you tried speaking asking them to re-instate the old APR?

ubernick

Yes dhassen. They weren't having any of it, stating they have reviewed all accounts and "we can't make any changes to the APR anymore."

I was pretty much repeated the same response three times over when asking questions. Not good.

Megalomaniac

I got the email aswell.... but they reduced the APR to 10.9% But I haven't paid a penny of interest with them since I got the card in 2005!

dhassen

lol

So people who are currently in debt (other than 0%), they're gonna make more money out of you.... and people who aren't in debt, they're trying to entice you into making them some money!

Megalomaniac

dhassen wrote: »

lol

So people who are currently in debt (other than 0%), they're gonna make more money out of you.... and people who aren't in debt, they're trying to entice you into making them some money!

That's the impression I'm getting. Still, the 10.9% isn't as good as the 8% on my Egg Money card (and all spending has subsequently been transferred to that).

dhassen

Seems like you're one of the lucky ones Mega..... 8%'s blummin' good though!