Egg credit Card Help!!

vlpat210

I unwittingly signed up for CCP (credit card protection) is there any way I could regain any of my charges for the last year?

melancholly

i don't think you can, unless you can prove you were misled over it... unless someone else knows anything else?
here's an article by martin on it (bit old but still holds)
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1083023073,92723

vlpat210

Thank you for the reply, it was a useful, The main problem was that over the last two years and one month, under the minimum payment option, I have paid a grand total of £13.00 off my debt!! I was not made aware that I was only clearing off 28p off my debt, the way I’m going it will take years upon end to clear my debt off!! I thought the minimum payment would have cleared that off in less than two years?

melancholly

if you post on one of the more 'pure money' forums, they will probably know more - but it sounds like you need to cancel your credit card protection and try to get a 0% balance transfer card. and it's always always worth paying off more than the minimum payment.

maybe the debt free wannabee board might be a good place to start - they're a really friendly, supportive bunch and if you post your monthly income and outgoings they usually find ways to help you tackle debt much mroe quickly.

tripled

Yup, deifinately cancel the ccp asap. Egg usually have a free transfer month every year where you get 5 months free - if it falls in a student loan month try clearing the card and then transferring the balance back on. You will pay a transer fee of 3 %, but it works out a fair bit less than the interest over the same period. Either that or consider a loan to clear the card if you can afford the repayments, but if you do that cancel the card. I made the mistake of not doing that and a year later was left with both a loan and a credit card bill to pay.