Egg Anniversary Offer Sting

br1zer

I have the "old" card and have used the Anniversary Offer to stooze for the last two Anniversaries (Feb)

I duly transferred balances only to discover that unlike previous years they are now liable to a 2% (to a max of £50) Bal Transfer Charge

I remember that the blurb on the site for 2005 regarding the offer specifically mentioned that there would be no Bal Transfer Charge for existing customers.

In 2006 there's no mention of Bal Transfer Charge at all...except in the small print. This sucks!

Something you may wish to consider. :eek:

skystar

Was it when you arranged the transfer that it told you about the fee or after it had been processed?

I had sent a secure message last week to egg just to confirm that Feb was my anniversary month and they confirmed in that e-mail that there would be no fee. Yesterday I went online and set up a balance transfer and no mention of a fee.

If you have not already done so I would message them.

Also, what they quoted to me was:
"For all customers who applied after May 2005 there will be a 2% fee (max £50)."

jesster_2

That's so cheeky. I was planning on using mine next month - I'll message them now to find out re the charge so I've got time to sort something else out if so. Thanks for the info.

Milarky

Remember that secure messages are deleted by Egg after 90 days. Take a separate copy of any message from them confirming fee-free status as a permanment record (I previously got them to confirm this and didn't, and now it's not there so I've sent them another message now for March)

br1zer

I sent a secure message in January to confirm my anniversary month. No mention of Bal Transfer fee.

My current card balance shows the Bal Transfer amount plus an additional amount that equates to a bal transfer fee with no explanation. I have sent a further secure message to find out what is going on. I'll post again when they respond.

thor

What could have happened is that EGG may have offered you a special rate balance transfer which is liable to the fee and it coincided with your anniversary transfer. There is a thread about it in this forum and you should not have too much trouble locating it. I was sent an email offering me about 5%(I think) if I BT before 31st January but it came with a 2% fee so naturally thought no more of it. Later it dawned on me that had it been offered around June(my anniversary month) then most of the money earned stoozing as interest would have been wiped out by the transfer fee. Check through your past emails and see if you have one from EGG offering a special rate BT.

Milarky

In theory this should not happen however because 'special promotions' could not be distinguished from 'anniversary offer' balance transfers made in the month of the transfer. All transfers in that month are 'anniversary' and all at 0%. Thus 'special promotions' must by definition only be run in non anniversary month periods [but could be offers in months 2,3,4 or 5 of the 0% on balances, I suppose?]

thor

Milarky wrote:

In theory this should not happen however because 'special promotions' could not be distinguished from 'anniversary offer' balance transfers made in the month of the transfer. All transfers in that month are 'anniversary' and all at 0%. Thus 'special promotions' must by definition only be run in non anniversary month periods

Should be but maybe EGG do make the offer in the anniversary month as
I'm sure that in the previous threads about this, the people complaining about being charged during their anniversay month found out later that they were offered the special BT promo for that month also.
Perhaps if both offers are indistinguishable then instead of the anniversay offer taking prominance it is the special one that EGG go by.

Martinslovechild

My second anniversary was last month - they didn't charge me any fee.

br1zer

All

I received the following response today:

"Thank you for taking advantage of your 0% anniversary balance transfer in February. Unfortunately the balance transfer has been processed incorrectly at the wrong interest rate and a balance transfer handling fee has been applied. We will be taking steps to correct both the interest rate and refund the balance transfer fee however this will not happen until 15th February however the correction will be backdated. You may be able to see the transferred amount appearing differently on your statement after we have resolved this but that is necessary to ensue your account is correct. Please accept our apologies for any inconvenience this has caused".

So that's alright then. It seems incredible that I have to wait 10 days for this to be corrected.

Doesn't particularly instill me with confidence and this is the last time I shall be using egg.

Thanks for your comments above but just to confirm that Egg have not offered me a special rate.

Incidentally, just noticed that my Bank the RBS is offering 9 months at 0% and as an existing customer there is no Bal Transfer Charge so I have applied for a card today.

thor

Well as long as you are not out of pocket then I would continue with EGG. I think the anniversary transfers end this year or maybe next but I have received at least 3 or 4 free transfers since signing up and I consider this quite generous.
Of course you have to be clued up enough to complain when they balls things up though.