Egg Money Rate Increase to 16.9%

INT1

There was a time that all the full payer account that settled in full and on time, they just sent a letter and closed a lot of those accounts, V Bizarre company!

purpleparrotuk

Count yourselves lucky. My interest rate is 26.9% :eek:

Paul_Herring

snowbrow wrote: »

However I do see it as a smack in the face to loyal customers, but I guess I'm not the type of customer they want as the make no money from me!!

Stop it. Please.

If you're spending regularly on the card, then they most certainly are making money from you - don't forget that the CC companies charge a percentage for any transactions to the vendor, from around 2-3% for MC and Visa to around 5% for Amex.

^!£$&

Paul_Herring wrote: »

Stop it. Please.

If you're spending regularly on the card, then they most certainly are making money from you - don't forget that the CC companies charge a percentage for any transactions to the vendor, from around 2-3% for MC and Visa to around 5% for Amex.

Ok Yes but I meant with regard to interest, late payment fees etc.. they dont get anything out of me!!
I mean it costs me no more to pay by Credit Card than it does to Pay on Debit Card!! Plus I get cashback so infact it costs me less!!

Intoodeep

Mine's going from 16.9% to 21.9%

I just find it obscene in the current climate that they (all cc ciompanies) think putting up rates will encourage the 'will pay' who keep up their payments (minimum or otherwise) to reduce their debts to carry on doing so or would they prefer those customers becoming 'won't pays'.

The_Money_Saver_2

This is interesting and strange! I wonder what criteria they use to assess the APR. My APR is still 7.9% and I do carry a balance most months, although I cannot really complain. I wonder if I will get an email increasing my APR - nothing yet though.

PROLIANT

Could be worse guys, MBNA are pushing most of their customers APR to over 30%.

MABLE

I received an email today from them advising my rate has increased from 12.9 to 16.9. I have sent them a secure message back advising I am a pillar of society and for them to have a word with their computer for me.

I suppose we have to make up for the customers who do not pay their debts because the original agreements they received were not signed.

YorkshireBoy

Contrast this with Barclaycard, who are lowering the APRs (by up to 5 percentage points) for 3 million customers...

http://news.bbc.co.uk/1/hi/business/7868615.stm

sofa_surfer

MABLE wrote: »

...(snip)
I suppose we have to make up for the customers who do not pay their debts because the original agreements they received were not signed.

From what I remember the agreements with Egg are signed electronically - was there a way for someone to bypass the ticking of the box?