Egg being sold to Barclaycard

YorkshireBoy

emilyjayne wrote: »

Does anyone know what this means exactly, 'Barclaycard will be in contact with you and send you a new car (providing you satisfy their reissure criteria)' ?

My view is that it would be unfair (and costly?) for Barclaycard to carry out a credit search to identify those Egg cardholders it wishes to keep.

However, there are other monthly feeds that the lenders take from the CRAs that do not leave footprints, most notably Consumer Indebtedness Index (CII) data. It may be that this will be where many Egg cardholders fail to meet Barclaycard's "reissue criteria".

tipsychick

emilyjayne wrote: »

Does anyone know what this means exactly, 'Barclaycard will be in contact with you and send you a new car (providing you satisfy their reissure criteria)'

Would just make it worth dealing with their abysmal call centres!

Paulgonnabedebtfree

emilyjayne wrote: »

Does anyone know what this means exactly, 'Barclaycard will be in contact with you and send you a new car (providing you satisfy their reissure criteria)' ?

Do they give you a choice of make and model? Seriously though, I don't expect Barclaycard to offer me a continuation of being able to use this account (not that I do anyway). Most of my balance is a large LOB deal that will take ages to repay.

1jim

Presumabably barclaycard would need your permission to run a creditcheck (one that leaves a footprint)?
Do we know when all this is due to take place....have made alternative arrangments for my cards but have kept egg open incase they continue to offer same egg cashback/benefits (not optimistic but dont want to burn bridges just yet)

lisyloo

If you have any cashback outstanding then surely it's worth keeping the Egg card to collect it next year.
What is the harm in keeping it?
If available credit is an issue then you can always reduce the limit.

I am keeping mine, but by and large I'm using capitalone.
I did actually recently use Egg to buy some theatre tickets because of their "missed event" cover.
It's all still in place for now, so that particualar feature still has some value and is providing cover for me right now.
Why be hasty?

ngairep

I'm SERIOUSLY concerned- I have a really bad history with Barclay Card (from university days- they handed out shots and a free camera if you signed up- no-one to blame but myself, but still unethical in my view)- I got a bad credit rating as a result of being an idiotic student, which I've now finally managed to get rid of (it's been well over five years). I have £3,300 (well below limit) on my Egg and now get told they've sold- as far as I'm aware I wasn't forewarned, I'm trying to pay off the card (I pay off an extra £50 a month on top of the minimum spend, literally all I can spare) and have reduced it massively, but a) what if I don't meet their criteria and they ask me to pay it all off at once to close and b) I DON'T want to be with Barclaycard due to my history with them.
I work in procurement and if a supplier sold their company without telling us beforehand and just said 'we've passed over the business' we would consider this a breach- I can't find anything in the small print to say I've agreed to Egg selling my account to Barclaycard nor to say I agree to them giving my details to anyone (in fact, the opposite). Can anyone shed any legal light at ALL on whether they're allowed to do this?
Getting panicky, Barclaycard are not my friend...just want to be rid of the credit card completely.

[Deleted User]

Yes, they're allowed to do it. There's be a clause in the t&cs somewhere along the lines of giving others rights to accounts etc. In terms of your questions -

a) they won't ask you to pay if all off at once (unless you default, and then it's still unlikely)
b) you can close your account

CLAPTON

ngairep wrote: »

I'm SERIOUSLY concerned-


I work in procurement and if a supplier sold their company without telling us beforehand and just said 'we've passed over the business' we would consider this a breach- I can't find anything in the small print to say I've agreed to Egg selling my account to Barclaycard nor to say I agree to them giving my details to anyone (in fact, the opposite). Can anyone shed any legal light at ALL on whether they're allowed to do this?
Getting panicky, Barclaycard are not my friend...just want to be rid of the credit card completely.

I amazed you say that as you work in procurement.
So when your electricity supplier was sold off you would have expected them to ask each and every customer for permission to continue supplying you with electricity?

How did you deal with this breach?

Did you check the small print to check they could do this and retain your details?

Do you think it was legal?

Ginger_ninja_2

silentvoice wrote: »

Is there any way you can stop Egg giving personal details for closed credit cards to Barclaycard ?

Egg quote the following but I still don't see why they should be allowed to do this :-

Please be aware that we're required under FSA regulations and the Banking Code to keep your details for up to 6 years.

As all our credit card accounts are being sold to Barclays your details will be passed on for them to keep as part of the above regulations.

Where did you get this info from? Just curious as to its accuracy as I believe the Banking Code was canned 18 months ago.

thenudeone

ngairep wrote: »

but a) what if I don't meet their criteria and they ask me to pay it all off at once to close

They can't do that as long as you keep up your payments and meet all the other terms and conditions.

ngairep wrote: »

and b) I DON'T want to be with Barclaycard due to my history with them.

If you are bothered, take your business elsewhere.

ngairep wrote: »

I work in procurement and if a supplier sold their company without telling us beforehand and just said 'we've passed over the business' we would consider this a breach- I can't find anything in the small print to say I've agreed to Egg selling my account to Barclaycard nor to say I agree to them giving my details to anyone (in fact, the opposite). Can anyone shed any legal light at ALL on whether they're allowed to do this?

They did publicise it beforehand.
I don't have access to my egg agreement online to check it, but every credit agreement I've ever signed allows to company to sell the debt on; because this sort of thing happens all the time, either in bulk or individually. This is why people often write on these forums that a debt collection agency has "bought" their old credit card debt.

Just as an example, here are the current terms for a Halifax card.
I would be amazed if egg's terms didn't have a similar term
http://www.halifax.co.uk/creditcards/balance-transfer-purchase/all-in-one-card/terms/

22. Transferring rights under this agreement
22.1 You may not transfer any of your rights or duties under this agreement.
22.2 We may transfer any or all of our rights or duties under this agreement to another organisation (including organisations outside the European Economic Area). If we do this, we may let them have any information about you or an additional cardholder. We may also arrange for any other person to carry out our rights or duties under this agreement. Your rights under this agreement and your legal rights (including under the Consumer Credit Act 1974) will not be affected.