Eggs 5 Month 0% Fiddle

Thorrrr

Yes i did several transfers

Unbelievable_2

I'm flummoxed :-[

I think you should ask them what the Merchandise Interest actually is - if you only ever do BTs it doesn't make sense ???

bethyblue612

Dale - is your statement balance now 7407.87 then? (4478.95+2900.00+2.22+29.70).
If not, then I think there's something other than just your transfers on there and you need to find out what that Merchandise Interest is.

Either way, you need to get the full amount cleared on your Egg card ASAP, as you are racking up more interest every day on it.

Jim02

I did a SBT with Egg outside of my anniversary month (but still within the 5-month interest-free period), and I was charged. This charge appeared on my statement as 'Merchandise Interest'. I found this description rather confusing, even more so when I queried it and received a message saying:

"Merchandise interest is charged to your account for any purchases you make using your Egg Card."

Apart from being mildly insulting to my intelligence, this immediately made me wonder whether someone had been fraudulently using my card, despite my statement showing no purchases. But no, it was simply an under-trained Customer Services employee treating the customer like an idiot. He obviously hadn't even bothered to look at my account, otherwise he would have understood my query.

That'll teach me to read the small print... if only to avoid having to deal with Egg's customer service department!

deemy2004

So a summary

Your five months 0% ends 31st Dec 04

You balance transferred in the 5th Month of your 5 month 0% deal, wheras its 0% only for transfers done during the 1st month, hence the interest charge

miller

You balance transferred in the 5th Month of your 5 month 0% deal, wheras its 0% only for transfers done during the 1st month, hence the interest charge

Following on then, Egg Card can only be used for SBT's when you have a positive balance (presumably the new BT) or are within your aniversary/introductory period and incur 0%.

realaledrinker

No. Egg can be used for SBTs all the time, but any debit (i.e. you owe them) balance thus incurred will attract interest unless it was initiated in either the introductory offer period for a new card or the first month of the anniversary offer.

Experienced Stoozers use the egg card outside these periods as a routing card from a non-SBT card into a current/savings account.

I recommend reading every word on https://www.stoozing.com for details.

Walletwatch

No.  Egg can be used for SBTs all the time, but any debit (i.e. you owe them) balance thus incurred will attract interest unless it was initiated in either the introductory offer period for a new card or the first month of the anniversary offer.

Experienced Stoozers use the egg card outside these periods as a routing card from a non-SBT card into a current/savings account.

I recommend reading every word on https://www.stoozing.com  for details.

Hey Realaledrinker

If I am getting you right, if you want to pay zero interest on your egg card:

1. Get it into debit balance only for the introductory six month period or for one month every anniversary. NEVER EVER have a debit balance on the egg card at any other point in time.

2. During any period other than that applicable in 1. above, use the egg card only to do SBTs from any other 0% offer, whereby you would first transfer money from the other card onto the egg card (thereby getting the egg card into a credit balance) and then move it immediately to a savings account...

Is this correct, or have I got it all wrong?

Unbelievable_2

walletwatch

The Egg anniversary offer works differently from its new card 0% offer.

For the anniversary offer you get 0% interest on your BTs done within the month of your anniversary.

Say your anniversary month is August. You BT or SBT your credit limit from Egg to your account/other card sometime between 1st and 31st August. You now have a debit balance on your Egg card. From August to end December you do nothing else with your Egg card except make the minimum payment. Before end of December pay off the debit balance.

If you want to SBT during that period get an Egg blue card or Mint.