Clearing a 'cancelled' Egg Credit Card

unspec

So, for those with 'cancelled' Egg Credit Cards, what happens when you settle the account?

I'll have paid the whole thing off at the end of the year, but it's interesting that the 'limit' is unchanged. Anyway...

I'm guessing that they won't change their mind on the account being closed, so doing something useful like a credit card shuffle to speed up my overall debt repayment is probably out. I just wanted to know if closing down the account is automatic, or if I get a chance to tell them to stick it?

After that letter in 2008, it would be very satisfying.

advent1122

I owe nothing on my EGG credit card, and have done so for the past 6 months. I also had a Capital One credit card, which I owed nothing on and they cancelled it after a year of non use.

lisyloo

They won't just cancel it beacuse you've paid it off.
After all lots of people pay them off EVERY month.

They MAY cancel it eventually, but it would be better for you to tell them.
Firstly this may be better for your credit report in terms of available credit, plus it's closing down avenues for fraud

NickX

lisyloo wrote: »

They won't just cancel it beacuse you've paid it off.

I think the OP is one of the 161,000 customers of Egg who had their accounts closed down last year.

They have been repaying the debt at the rate they were paying at the time of cancellation and will soon have cleared the debt.

OP, I think you will find the account closed and cancelled once you have cleared the balance.

However, I don't think there is anything stopping you applying for an Egg card again sometime in the future if you wish to rekindle your relationship

lisyloo

oh sorry, my mistake.
Shows up as cloased on a credit report with a date in the "settled" column.
Abscence of a date means open.
Presence of a date means closed.
Not immediately obvious.

unspec

NickX wrote: »

I think the OP is one of the 161,000 customers of Egg who had their accounts closed down last year.

They have been repaying the debt at the rate they were paying at the time of cancellation and will soon have cleared the debt.

OP, I think you will find the account closed and cancelled once you have cleared the balance.

However, I don't think there is anything stopping you applying for an Egg card again sometime in the future if you wish to rekindle your relationship

I was indeed one of the 161k! Oddly, I was in min-payment territory and probably making them a pretty penny. I wasn't missing payments, so it was surprising they didn't want this 'cash cow'.

Anyway, after moving because of work and back into a house I (well the bank ) owns I decided to follow some good MSE guidance to kill that lingering credit card debt once and for all. The Egg card is the highest APR and so top of the list. I've got a plan to apply for a tasty balance transfer card and shuffle the remaining ones once the Egg card is history.

Such a shame that I can't tell them to shove it, but it is satisfying that this approach means they won't be getting any more of my hard earned money!