Egg Money Cash Back Card Rejection

bevsloan1

No more advice needed - thanks

jonesMUFCforever

They make no money out of me in interest and charges (obviously they get a cut of the merchant fees) and I have had no problem with Egg and they with me.
I have taken advantage of some balance transfer offers on the other Egg card which I have paid small amounts of interest on.

You also assume that because Experian says you have a score of 999 that lenders will fall over themselves to lend to you - this is no longer so - they will all have their own risk/reward and lending policy.

They may be more picky but have no idea if you are going to be a profitable customer for them or not unless they open an account for you.

[Deleted User]

bevsloan1 wrote: »

My Experian credit rating today is 999 - the highest it can be

It's impossible to have a 999 credit rating - that's a code-score used when they can't calculate an actual score for whatever reason.

You say you checked your Experian today - would you like to post some more detailed versions of your report? Maybe we can try and diagnose any potential problems from that.

YorkshireBoy

The day Experian et al start issuing credit cards will be the day I (may, although still doubtful!) part with £5.95 (or whatever) for a '3-digit number'.

OP, as you've discovered, these numbers (because that's all they are, numbers) are meaningless and a complete waste of money. All they do is build up your hopes, and then dash them again when the lender declines you on their own scoring method.

bevsloan1

Hi,

Just so you know, I only decided to take out the card to try to take advantage of the cash back option. I always pay off my credit card in full. I guess from now on, I'll go with more reputable companies where I've never had any problems in the past.

Your info re the credit reports comes as a big surprise to me and is contrary to all the advice and information posted on this site.

YorkshireBoy

bevsloan1 wrote: »

Just so you know, I only decided to take out the card to try to take advantage of the cash back option.

The first £1,200 per annum spend would net out the £12 per year fee. I assume you were going to spend considerably more than this to make it worthwhile (whilst continuing to save nearly 85% of your income)?

I guess from now on, I'll go with more reputable companies...

In my opinion Egg are a reputable company, but then again they've never refused me credit (had two cards, now only one) or closed my account (which makes them very little money indeed).

Your info re the credit reports comes as a big surprise to me and is contrary to all the advice and information posted on this site.

No-one has given you info on credit reports. The info given has been about credit scores. And if you read the MSE articles they'll say exactly the same as we've said here, namely...don't buy the scores!

withnell

I've never paid Egg a penny in interest, and they've not cancelled my Money card yet - several years and still going strong

jmt

YorkshireBoy wrote: »

The first £1,200 per annum spend would net out the £12 per year fee. I assume you were going to spend considerably more than this to make it worthwhile

I presume that this is for new applications as both DH and I have egg cards and don't pay anything.

OP - try Capital One - we have a cashback card giving 1% as well as the Egg. We switch between the cards to keep them 'live', but never pay any interest and clear the balance every month.

withnell

Capital One don't issue a cashback card at the moment