Egg BT Fee Official Line

Anwen_2

Well, by and large, I think it's pretty obvious that this is a result of stoozers taking the mick, so you can't really complain.

Shame for those of us who would have actually been using the card in the intended way...

smarmo

Here is my wording...did you all get the 'breach of conditions' clauses as well?

Looks like Egg is dead. Shame...been stoozing since 1998 and it looks like the party is over.

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

CJD888

My anniversary month starts april 1st and I will be doing the usual SBT I'm expecting the full £50 (capped 2%) charge but I'll let you guys know either way

lisyloo

Shame for those of us who would have actually been using the card in the intended way...

No quite sure what you mean here.
Are you saying that you think stoozing is immoral?
You are entitled to your opinion but mine is that as long as you are meeting all the legal terms and conditions then there is nothing wrong with it.

If Egg didn't intend people to stooze then they should have taken more care.
They are a profit making company and have a responsibility to their shareholders to do due diligence before launching a product.

Let's hang on a minute Egg did this to make money out of people plain and simple. So what's wrong with playing them at their own game.

If you think stoozing is immoral then I would suggest you are in the wrong place.

smartsaver

EGG will make a killing out of the unenlightened thats for sure. A BT fee on £15k would be over £375.00 in May :mad:

Anwen_2

lisyloo wrote:

No quite sure what you mean here.
Are you saying that you think stoozing is immoral?

Not at all, but it is 'playing the system' and the system is perfectly entitled to make itself less playable, you can hardly complain when it does!!

I also think it's a bit mad that people seem surprised that this sort of thing is happening when there are publicly viewable websites devoted to stoozing etc. It's a bit obvious that the banks are going to see them and think 'hmm, maybe we should make this less possible'.

I also don't think I am *entitled* to 0% credit etc, though I did throw in that line about 'those of us who do it properly', so when that no doubt stops being the trend, I shan't be grumbling (much..!)

I mean, basically the 0% offers are designed in the hope that most people won't bother to rate tart, and will thus end up with maybe a higher rate than they could have got elsewhere after the offers run out. (So what I'm saying is that as I fully intend to get a new 0% deal if possible when my current one runs out, I am not really using it 'as intended' either! )

lisyloo

the system is perfectly entitled to make itself less playable, you can hardly complain when it does!!

I personally have not complained.
I'm going to close the card down and move on (as it happens I'm am not a habitual stoozer - not that I need to justify myself)

In fact I have suggested not taking advantage of erroneous emails when we know the official line as I think it's more hassle than it's worth.

I also don't think I am *entitled* to 0% credit etc

Neither do I but if it's there then I don't see what's wrong with taking advantage of it (from a profit making business).

I am not really using it 'as intended' either

Obviously the lenders want to make profits but I don't believe there is any moral obbligation to use a product in the way that's optimal for the lender.
They are a profit making business who are responsible for doing their own research.
It's can't be that hard to exclude rate tarts by looking at credit records if they really wanted to.

galileo

lisyloo wrote:

They certainly COULD charge you a fee and then make you go to court to get it back. Remember possession is 9/10th of the law.



You may be right, but it certainly could be a great deal of hassle to prove it in court.

As we are all now well aware of the official line then isn't it easier to just get another card, rather that take advanatge of an erroneous email and end up in court proving it.

All you are suggesting here is basically taking advantage of their error.

If you feel happy doing that then go ahead but bear in mind you might have to go to court to get what is rightfully yours and that could be a certain amount of hassle, emotional and financial risk.

Not worth it in my opinion.

No you would not have to go to court. You would go to the Financial Services Ombudsman, which is free.

hrbs

secure email from egg on 26 March 2006:

"Thanks for your message.

Your anniversary month is April 2006. This means that you can take advantage of 0% interest until September 1st 2006 on balance transfers requested to your Egg Card in April 2006.

You do only have till the 30th April 2006 to make a balance transfer onto your account to qualify for the 0% offer.

There are no charges involved with transferring your balance during your anniversary period.

You can only transfer a minimum of ?100.00 and up to 95% of your available credit as a balance transfer. This is to help prevent the possibility of your balance exceeding your agreed credit limit.

You can make a balance transfer by selecting the ?Move money? tab at the top of the page then choosing the option to ?Make a balance transfer to your Egg Card?. You can transfer the balances of credit or store cards, loans and overdrafts.

Regards

Ben Taylor
Internet Customer Services "

Anwen_2

lisyloo wrote:

I personally have not complained.

Didn't mean you personally, just think some people are more bothered than is worthwhile!