Egg Card Intrest rise

natlie

Really not happy to see that egg are putting interest up from 15.9% to 21.9% can't transfer my balance as I have poor credit history, gutted, been paying it off really well
Nat
x

fabbers

natlie wrote:

Really not happy to see that egg are putting interest up from 15.9% to 21.9% can't transfer my balance as I have poor credit history, gutted, been paying it off really well
Nat
x

21.9 :eek: had an email from them recently increasing mine to 16.9, i'll be ditching them as soon as my balance clears. They have now removed all incentives to stay, no cashback, no free balance transfers during anniversary month, higher rate than any of my other cards.

lazy&indebt

I got that email too! Have they scrapped the anniversary offer too? In that case I'l sack them off when I transfer my balance over this month!

fabbers

Anniversary offer still stands but they now charge 2.5% (uncapped) for the privelage.

lazy&indebt

fabbers wrote:

Anniversary offer still stands but they now charge 2.5% (uncapped) for the privelage.

Probably will sack it off then - I've got aloan that won't let me make over payments so I was going to transfer it over to my egg card when my anniversary offer comes back round but not sure if it's worth it now, what do you think?

jen30_2

I'm already looking at chnging mine. Have applied for the M&S card mentioned in this weeks email. So fingers crossed I'll be accepted.

dudleyboy

I emailed yesterday to cancel my Egg Card. 16.9%? Please... and no cash back... and no anniversary offer now. it's not worth the space it occupies in my wallet. Zero balance on it too since I use Egg Money nowadays instead.

3% on balance transfers too now! What ever happened to the once white knight of credit cards??

I'm hoping they'll respond favourably to my email and save me a phone call.

Luckystepho

I had a letter from Goldfish to say that their rates are increasing too, but late payment charges etc are going down! Lucky my Goldfish balance is only 55p, think I will be cancelling this.

*zippy*

Nationwide have also increased their interest rates by 2% from next month will now be 17.9%. I have my fingers crossed that we get the M&S card.

It stated that they have also put into the terms and conditions that they can lower your limit at any time. It looks like they are getting tough, sadly this is going to tip some who are struggling into trouble.

dudleyboy

Interest rates going up... late payment charges going down... this seems to be across the board as Barclaycard and Egg are doing the same.

Could it be all the reclaimed bank charges are making them change tactics to make a profit? Perhaps they can't argue charging £25 for these, but £12.50?... perhaps so...

I'm all for reclaiming unfair bank charges but, as someone who's never gone over their credit limit or missed a payment, and so never incurring bank charges that needed to be reclaimed, it's disappointing to find my interest rate going up too.

MascaraMinx

I've had my Egg card for 5 years and I am now getting rid of mine based on what they're doing. I feel very sorry for people who aren't able to switch balances.