Changes to Egg Terms and Conditions

GreyPilgrim

Received email notification of a whole raft of changes to the Egg T&C's. The only one that applies to me is:

Condition 4.5
If any interest is payable, there is a minimum interest charge of 50p. This means that if the interest amount is calculated to be less than 50p, the amount of interest shown as payable in your monthly statement will be 50p.

Erm, that strikes me as extremely shi*ty. This can't be the norm, surely?

Call_Centre_Monkey

It is becoming the norm. HBOS have had this on all of their cards t&cs for almost a year now, although in practice it still hasn't been implented (despite the fact it does advise estimated interest of 50p even if the estimate is less than that). I suppose this could change at any time though, since it is in the t&c's.