MSE News: Barclaycard to buy 1.15 million Egg customers

marvin

lawley1010 wrote: »

Can they close an account when it still has a balance?

Yes is the short answer just like a bank can call in an overdraft at any time.

But if you up to date with payments and you are paying interest I can't see why they would.

egbert101

marvin wrote: »

Yes is the short answer just like a bank can call in an overdraft at any time.

But if you up to date with payments and you are paying interest I can't see why they would.

Yes, they close it and make it repayment only, so you can still pay off minimum balance but cant spend any more.

miller

All good things...

Do I get a free rollercoaster ride? Thought not.

EssexHebridean

Eydon wrote: »

Personally, I'll switch back to using the Capital One World Mastercard. I'm one of the lucky ones that's had one for a while, so as well as the 1% cashback and £10 annual cashback bonus I don't have any annual fee.

Yes, this pretty much sums up my situation as well. I'm working on the basis that the annual fee will be brought in fairly soon for the long standing customers too, but even then that'll still be worth it so long as the 1% cashback stays. I only use the EGG card rarely now anyway - usually for the purely personal spends, so I will just switch to using the Cap1 and transferring money over when the bill comes in.

Butterfly_Brain wrote: »

Pity poor Egg customers the average interest rate hike is 22.9% on a Barclaycard. I would strongly advise clearing your cards asap and finding another provider

For most of us the reason we have the EGG card is due to the cashback, so we're clearing the balance, so the interest rate is a bit of a "Meh" point.

Consumerist

Doshwaster wrote: »

. . . I also find the Egg Money Manger to be useful

If you open a savings account (which, for the moment, isn't being sold) with a minimal balance, you can still use their Money Manager.

kerri_gt

AMEX also offer a cashback card.

lisyloo

AMEX also offer a cashback card.

Yes but you cannot rely on using it everywhere as it's not widely accepted like VISA and mastercard.
Depends where you shop & eat, but a lot of bargain stores and small restaurants won't take it.

stclair

Abit more information on the matter in barclays words:

http://www.newsroom.barclays.com/content/Detail.aspx?ReleaseID=1915&NewsAreaID=2

Doshwaster

Consumerist wrote: »

If you open a savings account (which, for the moment, isn't being sold) with a minimal balance, you can still use their Money Manager.

Good point. I do have an old Egg savings account which I don't use any more.

1jim

This is a real shame....I have been an egg customer since the first few days of them being...I hope they keep the staff on in Derby....... will probably get 2 halifax cards (clarity is it?) and put £300 on them each month, will then probably use my amex red card and give the 1% to charity. Unless a better offer comes along