Bad News - Egg removing the cap on BT fee

mary

Changes to Egg Card Conditions: 4.2 – this change is to clarify that if you breach your conditions whilst in your introductory period, you will lose the benefit of the introductory promotional rate.

7.2 – this change confirms we're increasing the handling fee from 2% to 2.5% of the amount of each transferred balance, and that we are also removing the limit for the maximum amount that can be charged.

11.4 – this change is to clarify that if you breach your conditions whilst in a special promotion period, you will lose the benefit of the special promotion offer.

Milarky

This currently leaves unaffected:

Egg card (green) as a mule card outside SP offer take-up periods (of a month?)

- Egg don't 'encourage' this use but currently don't 'police' it either

Egg card for anniversary offers themselves

- Still fee-free and Egg does currently encourage this use.....

Also Egg Money is fee-fee for all BTs and is likely to remain so because it could not be sold as an 'interest in-credit' account if it cost you a fee to draw down a postive balance you put there.

Overall this looks like a tweaking execise rather than an 'end-game'. Many card providers still don't charge any fee, whilst those that do are still cautious ly moving in that direction. (Possibly wary of the OFT taking an interest?)

lisyloo

I took out an Egg card in November 2005.
I'm not clear on whether this fee aplies to the anniversary offer.
Can someone clarify?
Thanks

Clariman

lisyloo wrote:

I took out an Egg card in November 2005.
I'm not clear on whether this fee aplies to the anniversary offer.
Can someone clarify?
Thanks

Unless you have any written change to Ts & Cs from Egg giving you notice of a change, then your original Ts & Cs will remain in force.

caelshorn

I took an egg card out in 2001 and used the anniversary offer for the first time in December. I wasn't charged a BTfee, but they had sneakily introduced payment protection, without my consent. I am certain that I cancelled it four years ago when I paid the card off (one of the reasons I stopped using the card-they put "free" payment protection on for two months, but if I didn't cancel it they would start charging me), but in Dec they charged me £68 and they are refusing to refund it. If they are now going to charge me for my next BT as well, I will definitely bin this card.
Funny thing is, they sent me TWO customer satisfaction surveys around the time of the disputed payment protection...

HGLTsuperstar

I have not received any notice from Egg so, assuming it stays like that, I understand it that my original T&Cs still stand? So still £50 cap on BT outside the anniversary period, and no fees during anniversary month?

Clariman

HGLTsuperstar wrote:

I have not received any notice from Egg so, assuming it stays like that, I understand it that my original T&Cs still stand? So still £50 cap on BT outside the anniversary period, and no fees during anniversary month?

Yes, original Ts & Cs still stand unless they write to you giving notice of a change. I would suggest that all Egg users keep a very close eye on their emails ... including statement emails in case they have a notice of variation hidden away on them somewhere.

Clariman

smartsaver

Sorry I am most likely being thick but here goes... I have received the said email Is the balance transfer still fee free during the anniversary month?

micheleen

Just checked and I was given a link to the changed T&C in my Feb statement. Very sneaky :mad:
I took the card out July last year but prepared to pay 2% BT fee, but this looks like I won't be bothering with the anniversary now:( (or keeping the card)

sicker

Smart saver my 2004 card is fee free for my anniversary offer which is due next Saturday and I will be going for a transfer. If you are unsure just phone them and ask, they are mostly nice people.

John

mary

I suggest everyone who is coming up anniversary time, whenever their card was taken out, simply send Egg a secure message and ask if they will have to pay a BT fee or not. Then you have it in writing as proof one way or the other.