Egg credit card rant

hugheskevi

About a year ago, in anticipation of buying a house I made sure my credit rating was perfect in advance of applying for a mortgage, part of which entailed reducing credit limits I didn't need. As part of that I reduced the limit on my Egg card down from £4,000 to £2,000.

A year on, I've just bought a house, so now need a higher credit card balance as I have abnormally high spend at the moment buying furniture, etc.

Egg refuse flat to increase the limit, even just by £500. In itself, that isn't a problem, I have plenty of other sources of funds, but none of them give the protection on purchases you get using a credit card, which is irritating. They even take 2 days to credit a debit card payment, so I couldn't even make a payment to reduce the balance and then use the card to make the purchase I wanted to make today.

My credit rating is perfect, I have no debts, I'm on the electoral roll and have an income well into higher rate tax. I've been an Egg customer for 2 years, during which time I have always paid 100% of the balance every month, and it has always been my primary source of spending.

So in short, I probably don't generate enough money for Egg, so they don't particularly want me as a customer anymore as I don't fit their busines model :mad:

I know it is their right to do this of course, but it is damned annoying nonetheless and a pretty crap way of treating established, responsible customers.

Ah, that helped, very therapeutic Rant over

opinions4u

hugheskevi wrote: »

About a year ago, in anticipation of buying a house I made sure my credit rating was perfect in advance of applying for a mortgage, part of which entailed reducing credit limits I didn't need. As part of that I reduced the limit on my Egg card down from £4,000 to £2,000.

So at this stage, you understood that there was an appropriate balance between mortgage and credit card debt.

A year on, I've just bought a house, so now need a higher credit card balance as I have abnormally high spend at the moment buying furniture, etc.

Egg refuse flat to increase the limit, even just by £500.

Well you have a mortgage debt now, don't you?

My credit rating is perfect, I have no debts

I thought you said you had a mortgage?

So in short, I probably don't generate enough money for Egg, so they don't particularly want me as a customer anymore as I don't fit their busines model :mad:

Or your higher level of personal debt (mortgage) doesn't fit with their risk model.

You were happy when you thought it was appropriate to reduce the credit limit to get a mortgage.

Why don't you consider paying off half the mortgage and then asking them to double the credit limit?

I know it is their right to do this of course, but it is damned annoying nonetheless and a pretty crap way of treating established, responsible customers.

Or a prudent way of ensuring their existing customers don't over-extend themselves shortly after taking on the burden of a large mortgage.

Paul_Herring

hugheskevi wrote: »

Egg refuse flat to increase the limit, even just by £500. In itself, that isn't a problem, I have plenty of other sources of funds, but none of them give the protection on purchases you get using a credit card, which is irritating.

You do realise that in order to get Section 75 protection, you don't have to put the whole of the purchase price on the card? Even a £100 'deposit' and pay the rest by debit card, or whatever, will afford you the same protection.

withnell

If you make a faster payment it clears same day

Would you be making the same rant if your mortgage provider refused to extend your mortgage? because its the same situation

hugheskevi

You do realise that in order to get Section 75 protection, you don't have to put the whole of the purchase price on the card? Even a £100 'deposit' and pay the rest by debit card, or whatever, will afford you the same protection.

Thanks - I did know that but hadn't thought about it for this purpose...it'll be a good solution for the next month or two. Cheers.

CLAPTON

bizarre
just get another credit card