Will Barclaycard change my Egg card interest rate?

boxingbantz

I currently pay 19.9% on my credit card, am currently in the process of trying to pay it off and am curious as to whether they are likely to increase my interest rate?

opinions4u

They can vary the rate on a variable agreement.

You can opt out of a rise if you agree to stop using the card.

They reduced the rate on my old Morgan Stanley card recently.

boxingbantz

opinions4u wrote: »

They can vary the rate on a variable agreement.

You can opt out of a rise if you agree to stop using the card.

They reduced the rate on my old Morgan Stanley card recently.

Would this mean that I would just be paying off my card at the rate I am at now then?

izools

boxingbantz wrote: »

Would this mean that I would just be paying off my card at the rate I am at now then?

If they increased it and you chose to opt out, yes. This would not affect your credit rating atall and they would not expect you to clear it any more quickly

fozmcfc

I dropped my Egg limit to £500 after I balance transferred away. My only Visa card though, so keeping it for now.

seany09

hi,i currently own both a barclaycard and an egg card,both of which r at their limit nearly and barclaycard wont up my limit cos of poor credit history.so wen they merge my egg balance will take me well above my barclaycard limit,what can i do??

danouk

They will not "merge" the accounts - you will have 2 barclaycard accounts.

Don't be surprised if they reduce the credit limit as you reduce the outstanding balance though.

BarryW

I hadn't spotted Barclaycard and Egg join up before. I might explain why with my main Credit Card (paid off at the end of each month) being Barclaycard and my credit score with Experion being 999, I was refused an Egg card today.

izools

BarryW wrote: »

I hadn't spotted Barclaycard and Egg join up before. I might explain why with my main Credit Card (paid off at the end of each month) being Barclaycard and my credit score with Experion being 999, I was refused an Egg card today.

I think perhaps this is reading too much into it. Egg are WAY off merging their systems with Barclaycard.

The decline will be due to something else.

meggsy

izools wrote: »

I think perhaps this is reading too much into it. Egg are WAY off merging their systems with Barclaycard.

The decline will be due to something else.

This link has been posted on another thread
https://www.emoneyfacts.co.uk/news/cards-news.aspx?newsarticleid=203396