When is 0% not 0% When its an Egg Blue card!

marvin

I have just received my egg statement for December 26th and despite the fact I moved all the balance out before the statement date so much so it had a credit balance on dec 26th, I have been charged over £40 interest despite last months statement saying 0 interest and an email saying that the balances would incur interest from the statement date in December.

Be warned about this piece of sharp practice from Egg.

deemy2004

Its not the statement date that you have to focus on but the end date of the 0% period. Any days after this date will be charged interest on.

You really need to get the end of the 0% date right at the very beginning so that you don't fall for the mistake of thinking its the statement date.

marvin

no it was the email that said purchases would incur interest after the december statement date that caught me.

marvin

This email
About the end of your introductory period.

Dear

We wanted to remind you that your introductory 0% period on purchases comes to an end after your December statement. Our standard rate of 14.9% pa (variable) will then be applied to your account.

Next time you log in to your account online you may see a 'TC 259 Adjustment'. This will be your initial interest charge and will be shown on your following monthly statement.

And remember, if you've still any last minute Christmas shopping to do, with Egg Card you get 0.5% cash back on everything you spend. So enjoy the festive season and have a happy New Year.

Best wishes


Egg Banking plc

Reaper

While Deemy is right that you should not confuse statement dates with the end of the 0% period I would say that their email clearly says you should not have been charged. i.e. comes to an end after your December statement. Although I think their email is wrong and you should have been charged, I don't see that they have a leg to stand on. To me the email constitutes an extension of your 0% period. Apeal it and quote their email back at them. I feel you have a perfect right to get the charge waived.

marvin

Have done just did not want anyone else to get caught like I did by believing what I read.

They have asked for a copy of the email and I await them to get back too me.

deemy2004

Hmmm, the email says purchases

Now I don't know if the balance on your card was a balance transfer or the result of purchases, in which case it looks like it would only cover purchases as per the email rather than existing balance transfers which expired earlier.

MarkyMarkD

Well, as statements now say how much interest you will be charged on the next statement if you only pay the minimum (which you would normally be doing on a 0% card) then that amount is how much you should expect to pay - and nothing more - unless you did balance transfers or anything else non-compliant during the month.

As the others have said, appeal it and they will pay out.

Egg have always been good at resolving disputes in my experience.

marvin

Hmmm, the email says purchases

Now I don't know if the balance on your card was a balance transfer or the result of purchases, in which case it looks like it would only cover purchases as per the email rather than existing balance transfers which expired earlier.

It was 5 months of purchases using the card as offered some time back (nearly £7000 worth which is why its over £40 interest)

johnllew

Egg have always been good at resolving disputes in my experience.

Yes. Egg recently agreed to refund cashback from my credit card to my savings a/c. Despite assurances to the contrary, they treated this transaction as a BT, charged me interest and doubled my minimum payment. They paid me £20 compensation to resolve without too much persuasion.

irs101

Yes, I got that e-mail and then got charged interest. The person on the phone couldn't explain it - told me that I was misunderstanding what it said. Seemed preety clear to me!

But I didn't press this, because the more important issue in my case was that I have a secure message from them saying that the interest free period doesn't run out until 1 Jan (which is wrong now that I look at my paperwork, but hey it's their mistake). Despite being difficult at first, the Egg person did go away and sorted out getting the £60 interest refunded.