EGG Cashback Payment Date

jmt

Following the announcement that Barclaycard will be taking over I want to close my account, but I am awaiting £136 cashback before I do this.

Has anybody had the cashback paid into their account this year?

I have had a look at my April statement from 2010 and the payment day was 11th March.

Rupert_Bear

I have just checked and nothing as yet. However my normal statement date is 14 of each month and hopeful will come through in time to be reflected in the March statement.

masonic

IIRC, the T&Cs allow them to pay it at any time during the month (or possibly up until the 20th??). I'm waiting for mine so that I can close my account.

nearlyrich

They definitely pay it in March, my statement arrived this morning (electronically) and it has been reset to just what I have earned so far in March but the cashback hasn't been added yet.

lisyloo

My cashback has not appeared yet, but I don't think they are obliged to do it on the same day as last year.

Personally I think it's too early to close.
We don't know what the new offering is.
Unless you've have a serious run in with Barclays in the past then I' wait and see.
You'll be gutted if you close it and then they come out with something decent.

lisyloo

However my normal statement date is 14 of each month and hopeful will come through in time to be reflected in the March statement.

Rupert - even if it comes through after the statement, it will still reduce your balance.
If you pau in full by DD, it will be deducted from your payment PROVIDED it comes through long enough before your payments date (5 days ish??).
The DD instructions are prepared a few days before the payment.
So you have longer than your statement date.

masonic

lisyloo wrote: »

Personally I think it's too early to close.
We don't know what the new offering is.
Unless you've have a serious run in with Barclays in the past then I' wait and see.
You'll be gutted if you close it and then they come out with something decent.

Personally, I don't think there are any guarantees that there will be any offering. Any cashback earned from February onwards is at risk and you'll probably have to hang on until March 2012 to have a chance of getting it paid.

Even if no changes are made to the scheme by Barclaycard (the best possible outcome, and one that's highly unlikely IMHO), then people could still potentially do as well or better by switching to another cashback paying card (or a 0% card in the short term). It depends to some extent on your spending habits. I've viewed this situation as an opportunity to review whether or not I was getting the best possible deal and decided that I wasn't. If Barclaycard offer something good to those people hanging around with Egg Money, then great, but I won't feel any remorse for deciding to jump ship early.

lisyloo

Good points (I come here to challenge my views, leanr and change my mind :-)
I've just applied for cap one after those wise words.

CopperPlate_2

Previous form by Barclays - Goldfish and the various others it has taken over - have all led to a reduction or abolition of the reward schemes/cashback. They have bought the egg card/egg money customers, not the brand, so they will migrate us all over to one of their cards at present. I am trying to remember what happened when Morgan Stanley was taken over by them - I think I was migrated across to their Platinum card with their standard offering. That experience put me off Barclarcard for life. Horrific experience, atrocious customer service and clunky sllllooooowwwww website that took ages to do anything. Never again.

Barclaycard will be true to form. Migrate to a similar offering that they currently have, or maintain the offering of the egg money benefits for 6 months or so then downgrade it. I wouldn't take the chance, so cashback paid this month, account closed and I'm off.

CopperPlate_2

Actually, having just looked at the Barclaycard website, there is nothing that remotely comes close to egg money in terms of additional benefits, so the chances of us being able to retain them all when being migrated is slim I'd say. Realistically, from what the egg website suggests, not everyone will be given a new Barclaycard anyway:

Will Barclaycard rebrand all Egg cards? Will I have to have a Barclaycard?

Yes as the Egg brand remains with Egg. As we get closer to transferring your account, Barclaycard will be in contact with you and will send you a new card (if you satisfy their reissue criteria).

kar999

nearlyrich wrote: »

They definitely pay it in March, my statement arrived this morning (electronically) and it has been reset to just what I have earned so far in March but the cashback hasn't been added yet.

Ditto...

Get 1% cash back on purchases paid to your account in March annually. Cash back is paid up a maximum amount of £200 (a minimum of £5 must be earned) in each 12 month period (from your March statement to your February statement).

My 2010-11 cashback is not on my current March statement (12/03) (which is when it was paid last year) and doesnt appear as a current month transaction either. The current cashback has been reset so I've fired off a secure message to them asking why it hasn't been credited to my March statement.