MSENews: Egg closes credit cards to new customers

ffacoffipawb

~Chameleon~ wrote: »

... but I can't see Barclays honouring any cashback earned.

Well it wouldn't be TCF * to just steal it from their customers if they have earned it.

* TCF = Treating Customers Fairly

http://www.fsa.gov.uk/Pages/Doing/Regulated/tcf/index.shtml

The six TCF outcomes

Through TCF, we aim to deliver improved outcomes for retail consumers. Our six consumer outcomes explain what we want TCF to achieve for consumers, as outlined in our July 2006 publication Treating customers fairly – towards fair outcomes for consumers.

Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.

Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.

Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.

Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.

Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.

Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

Nessie23

rail.link wrote: »

Sad news; I'm likely to close the account.
Egg had great customer service and I don't fancy dealing with Barclaycard's overseas customer services.

All the best to Egg staff.

Used to have a Barclaycard cashback card - until yesterday. Got fed up of their poor customer services and the sudden reduction of cashback.
Good luck to those of you transferring over.

Nessie

magicrichard5

Sad news - Egg have been great.

For a few reasons, I won't be keeping the account if Barclaycard don't keep up the current cashback agreement.

Best of luck to all the Egg staff - you've helped make the service worth having.

Tabby

Wow, I just found out this news after applying for a Barclaycard (0% on balance transfers for 20 months) so I could transfer my egg debt of £2,500. Does it matter if the balance transfer is from Egg? I planned to close the egg account after the transfer. :undecided

FattyBettyBoo

I've got a similar question to Tabby above. Started stoozing a while back and the plan was to apply for a Barclay card next. I already have an Egg card with a low balance so I geussing that I wont be able to open a Barclay card if I still have this. If I pay off Egg on Monday do you think I would still qualify as a new customer at Barclays?

Tabby

Hey FattyBettyBoo, I have been approved for the barclaycard with the egg balance transfer in the application so I think it is worth a try?

CopperPlate_2

lisyloo wrote: »

I have taken out CapOne which I'm using mainly for cashback now.
However I did buy some theatre tickets recently and I put them on Egg for their "missed event cover".
So if you're keeping the card to try to get any outstanding cashback then don't forget that it's currently business as usual and some of the insurances are worth having.

The question is, are you required to still 'have' the egg card in order that the purchases remain covered? If you were to normally close your egg card, would the items purchased with it, cease to be covered by the insurances, AND, is this cover likely to be transferred to Barclaycard when they migrate the accounts?

Mozette

I did ask egg if the cashback I'd earned so far this year would be honoured; the answer was yes, any cash back earned under eggs T&C would be honoured, but obviously they were unable to say what Barclays would do once they took over.

oldtup

Good riddance to an appalling company - and yes i WAS one of those whose card was cancelled although I paid in full every month!
You really can't get away with treating your customers like that.
The real problem wasn't that they had a clearout of customers but that they implied that we were all bad credit risks.

Greenfly_3

I've had an Egg Money card for quite a while. 6.9% in debt interest and 4% in credit interest. Free ATM withdrawals; free money transfers; 1% cashback from anywhere; spend it anywhere. Now 16.9%/21.9% in debt interest; no in credt interest; no free ATM withdrawals; no free money transfers; etc.

Egg Money, whilst still good, has been going downhill for sometime. The move to Barclaycard has completed the downfall. If moved on to "Freedom" you are limited in where you collect rewards and where you can spend them.