Egg - refused credit limit increase

Tondella

Egg have responded to my email saying that they can't tell me the reason for refusal but if I wish i can write to them with details of my income, other credit cards and reason for requesting a credit increase and they will consider my case. Think I might try to telephone with the above information so I can have a better go at negotiating. Hoping that once they hear it's for a balance transfer they'll allow it as it doesn't mean I am incurring anymore debt that they can already see.

dealseeker

SixStar wrote:

Basically your limit is automatically review every 6 months and any requests within 6 months of each other are automatically declined... hope this makes sense?

Going to try for a credit increase in Feb once my 6 month period is up since the last review. Anniversary month in March. Will post here how I get on.

galileo

I increased an increase recently as well via their website as my anniversary period has just started again. They said no so I just left it at that.

I definitely won't be asking again if it puts another footprint on your credit file.

Tondella

Bit of an update on this matter.

I tried to call Egg but got told that the credit department is not a "customer facing" department, so I sent a secure message stating my case for a credit limit increase. Basically the message said:
I want to increase my limit to accomodate some balance transfers from other credit cards in my anniversary month
I intend to close the cleared cards once transfer is made and so the increase in my overall credit limit is a temporary one
I also mentioned that my pay had been reviewed since requesting my credit limit increase and had increased by £2k p.a.

They emailed today to say that they had accepted my request and the changes should be reflected in my account in the next 24hrs. Result!

Karma67

Excellent news Tondella! Well done for persuing the matter! :j :beer:

biblejohn

SixStar wrote:

Give them a call, I worked there (about 2 years back) and discuss it with someone - ask for the Credit department - they won't want to put you through but be persistent (it's policy for the call centre not to transfer you through!).
Basically your limit is automatically review every 6 months and any requests within 6 months of each other are automatically declined... hope this makes sense?

That didnt work for me. I happily increased my limit every month using the online option without any problems. Any more than once a month and they would reject it.