MSE News: Barclaycard to buy 1.15 million Egg customers

gt94sss2

Niksan wrote: »

While it would be a shame for the 1% as much as I'd miss that I'd miss the facility the money manager has having all your accounts in one simple place, not sure why more banks don't follow suit on that.

First Direct has a similar facility called Internet Banking Plus

No need to bank with them to use it

Regards
Sunil

plumber2009

Another company bites the dust and is transfered to barclaycard.

Barclayacrd are getting too big and their crappy indian call centres was the final blow and so i will never deal with these idiots again.

This take over should be blocked.

I wonder how many customers will loose their credit card alltogether.

meggsy

harz99 wrote: »

Me neither, especially not with Barclays Bank's part in the CCE debacle; I'll be off with a good many others I suspect.

Another customer here who will be off :eek: I don't like this news at all!

I like Egg, had an account since the beginning, simple savings accounts, and very good customer service.

hasdogs

OMG

How well I remember what an utter shambles Barclaycard's takeover of the Morgan Stanley card was.

See my post in
https://forums.moneysavingexpert.com/discussion/1227391

It did drag on for a couple of months with an official complaint via the Financial Ombudsmen Service being required to get to talk to someone from Barclaycard who had a clue and the authority to do something about the problem. I did eventually manage to get rid of the card and get the 40 quid or so cashback outstanding on the MS card, the 40 quid wasn't worth the aggravation.

Subject to not loosing cash back I much prefer cancelling the Egg card before any takeover. I don't want to go through that again or have anything to do with Barclaycard.

Having read through the rest of the posts and links some more it looks like I will be cancelling after getting my cash back due next month. I already have a no fee 1% + bonus Cap One card but I need two cards so I guess I will go for a Halifax Clarity already having the required cheque account. Funny, this month Halifax wanted to and I let them cancel a card which has been dormant for a couple of years since they cut the cashback rate. I asked if it could be turned into a Clarity card and they said I would have to make a new application.

Paulgonnabedebtfree

This is a pity.
Although I know many people have had issues with Egg, I've never had a problem with them myself. They come up with the occasional OK BT deal.
I currently have a big limit with Egg and am currently using most of it as, for me, it is something I am having to regard as a longer term debt. I don't spend on it. Most of the debt is at around 7% LOB. I assume Barclaycard will have to honour this?
I already have a card with Barclays with a small limit on it. This happened when they bought Goldfish. This one is hardly used - just a CCA for a phone bill from 18866 which is a few pounds every month or two.
To be honest, I have so much debt it wouldn't surprise me if Barclays close off these avenues of credit to me. I have no defaults/late payments but the amount of debt I have in relation to income looks appalling on paper. However, I can carry it because I am single, know how to live tight, and am self-employed.
If that card gets cancelled by them, so be it. My main concern is that I can continue making repayments over the longer term (currently the minimum but will go up when/if the high interest bit becomes my most expensive debt) and that they honour the LOB deal.

stphnstevey

Presume the mule part of the card wil be closed off and positive balances not allowed?

foofi22

A bit gutted this is happening!

Would the Captial One World Mastercard be the 'next best thing'?

Froggitt

Mule???????

Gordon_the_Moron

Froggitt wrote: »

Mule???????

It allows people to hold a positive balance so people who get a 0% credit card for balance transfers sometimes transfer a 'balance' there leaving the Egg Card with a positive balance then transfer cash from there to a current account (or spend it earning cashback)

climbgirl

1jim wrote: »

I also wonder if they will pay cashback between march and when we transfer over?

It says in the Egg T&Cs they can withdraw the offer at any time. And given Barclay's track record of buying cards and trashing the rewards schemes, I can see them not honouring the accumulated points.

Personally, I'm not taking that risk. I think it's quite nice timing given that they're about to pay out the cashback for the past year in the next week or so. Once I have that, I'm closing the account and moving to another cashback card I have.