Egg overlimit charge - lost standard interest free period?

Jazzking

Right then....

I appear to have gone over my Egg Money credit limit slightly resulting in a £16 charge, I have a couple of questions here:

* I check my Egg account daily and at no point when I logged on did I see my account over my agreed limit. The transaction which caused it was for £80 and was purchased online on the night of Friday 19th Dec (but didn't show up immediately) My payment date where I pay in full was Monday 22nd and it was on this date that the £80 purchase showed up (dated 19th), along with my credit clearing last months statement. So credit effectively brought me back down within my limit at the same time the debit showed up online.
I know that I probably should have accounted for the £80 at the time regardless of when it had showed up online is there anything I could say to persuade egg that the charge should be removed?:rolleyes:

* Assuming that they won't remove the charge, does this mean that my 50 days interest free has gone and I'm not paying interest on all my purchases from the date of purchase or does only apply if a payment is missed and the statement balance isn't cleared every month?

Feeling rubbish about it as if I'd have spotted the charge I'd have "faster payments" some money over to cover it! Ah well....

benf90

You can ask them to refund the charge but whether or not it is will most likely depend on who you get through to.

As long as you pay the balance off in full then you won't be charged interest so the overlimit charge won't make any difference to that.

abstemious

Just out of interest, how soon after you went over your limit was the £16 charge applied? In December I went 70p over my limit before I transferred some extra money to reduce the balance. Egg couldn't confirm on the phone whether this would result in charges or not.

Jazzking

benf90 wrote: »

As long as you pay the balance off in full then you won't be charged interest so the overlimit charge won't make any difference to that.

Thanks Ben.

I couldn't find the Egg Money summary box to check it out at the time but having seen the Egg Card one it seems it's just 'promotional' interest free periods that get taken away from you if you go overlimit.

Jazzking

abstemious wrote: »

Just out of interest, how soon after you went over your limit was the £16 charge applied? In December I went 70p over my limit before I transferred some extra money to reduce the balance. Egg couldn't confirm on the phone whether this would result in charges or not.

The £16 appeared on my next statement date (2nd Jan) rather than at the time that I supposedly went over my limit (20th Dec).

Fingers crossed for you but I think Egg are out to make as much money from us as they can!

YorkshireBoy

Jazzking wrote: »

I couldn't find the Egg Money summary box to check it out at the time but having seen the Egg Card one it seems it's just 'promotional' interest free periods that get taken away from you if you go overlimit.

If you log in to your account you can view the Egg Money T&C's and your credit agreement.

Jazzking

YorkshireBoy wrote: »

If you log in to your account you can view the Egg Money T&C's and your credit agreement.

Yeah, found that, but didn't see the relevant bits regarding going overlimit and the agreement/conditions don't includue the useful "summary box"