egg credit card have charged me £16.00 for going over my cc limit

jonesMUFCforever

If you actually pay the whole balance off every month and Egg will be able to see that this is true - why not ask them for a higher limit - explain that the work expenses are paid by your employer (assumingly?) which will stop this happening again.

Moggles_2

jonesMUFCforever wrote: »

If you actually pay the whole balance off every month and Egg will be able see - why not ask them for a higher limit - explain that the work expenses are paid by your employer which will stop this happening again.

I think perhaps you've confused the OP with a contributor (see #7)

I'm sorry, trusting an online supplier that you have no experience of, is asking for trouble, particularly when you were perilously near your credit limit. (If it had been a local retailer, well known to you, fair enough.)

Basically, if you give the 16 digit number that adorns your debit or credit card to a third party, you're trusting that the receiving company will not withdraw the money until the item is despatched. The retailer is clearly at fault, but if this has never happened to you previously, you've been very lucky, tbh.

All credit cards will charge you an overlimit fee, if you exceed your credit limit. It's well & truely covered in their Ts & Cs, so I doubt whether the Financial Ombudsman would uphold your complaint.

I'd complain to the retailer though certainly.

bargains83

Just be thankful they didn't harrass you. Egg bombarded me with phone calls and sent a nasty toned letter for going £20 over the limit just before last christmas even though I paid £200 back to the account the very same day the over limit happened, I had no issues with paying the £16 fine as it was my fault but to be harrassed was outrageous. They wanted me to talk to a collections specialist, when I contacted them by secure message they said they had put a block on the account which they wouldn't shift until I spoke to someone in 'collections' by phone. I refused and have now cancelled the card altogether.

Take my advice and cancel your account with Egg, they are one of the worst credit card companys these days. They have a supposed fraud prevention system in place that refuses genuine transactions, causes embarrasment and you have to verify them by telephone. (other banks have a similar system but they are NOWHERE NEAR as bad as Eggs). They are meant to be an 'online' bank but rarely deal with enquiries through the secure messaging system and expect you to talk to them for most things.

In your case OP I would send them a secure message, tell them you want the £16 they've charged refunded and unless they do this you want the account closing but wish to be able to continue meeting repayments the same way as you currently do until the balance is cleared.

BUT do not give them anymore business. They clearly do not deserve it!.

sharpy2010

bargains83 wrote: »

In your case OP I would send them a secure message, tell them you want the £16 they've charged refunded and unless they do this you want the account closing but wish to be able to continue meeting repayments the same way as you currently do until the balance is cleared.

Egg probably WANT the OP to close his card, after all they aren't making any money from the customer if he/she always pays off in full, so why shouldn't they desire that outcome?

YorkshireBoy

sharpy2010 wrote: »

Egg probably WANT the OP to close his card, after all they aren't making any money from the customer if he/she always pays off in full, so why shouldn't they desire that outcome?

Assume:

£2,000 credit limit
£1,000 monthly spend
£1,500 average balance
1% fee charged to merchant acquirer

£1,000 x 12 x 1% = £120 gross profit

£120 gross profit on a £1,500 outlay is a return of 8%

And then there's always the possibility of a late payment/overlimit fee or three lifting that to 11.2% (with £48 of charges)! That's a good return isn't it...for very little risk?

Cell

sharpy2010 wrote: »

Egg probably WANT the OP to close his card, after all they aren't making any money from the customer if he/she always pays off in full, so why shouldn't they desire that outcome?

Which in turn goes back to my point on the rate jacking thread. If they don't want this account and increase interest rates on accounts with a high balance to the point where people close them and pay under the old terms the question arises - who DO the CC companies want as customers?