Egg card

huxley309

I have one of these, but as im sure many of you know they don't allow closure, with the remaining balance to be paid off.

Now what if i was to ask them to reduce my credit limit, would this have a similar effect, in other words i can't spend until it's below the limit.

Anyone?

[Deleted User]

Ask them to close it and cut the card up. If you reduce the limit below the balance (assuming they allowed that), you'll automatically incur overlimit fees.

Then just pay off the remaining balance. After that point, it will become 'fully' closed.

Moneymash

If you can't spend until you're under the limit? So you would be over the credit limit and would therefore incur charges surely?

When I struggled to make minimum payments on my barclaycard (even though my balance was well under my credit limit) they reduced my credit limit taking my balance over the credit limit and charging me £12 each month I was over the limit, very sneaky (although no doubt other posters will tell me to check the terms and conditions).

As you will know Barclaycard have just brought Egg credit cards and will be sending Egg credit card holders barclaycards from November. If I were you I would get the balance down as much as you can before this, as they may do the same thing with Egg card customers.

huxley309

They wont close it, i asked them and the only way they will is to fully pay the balance off.

They argued the point, and i gave up in the end.

Im not struggling, just wish to gradually pay it off.

Moneymash, in march one of my loans finish, so im fine money wise as the wages are good tll around February onwards, which im on holiday by then, so it's all planned out.

I just wish to remove the temptation, it works best for me otherwise i keep dipping.

Deleted_User wrote: »

Ask them to close it and cut the card up. If you reduce the limit below the balance (assuming they allowed that), you'll automatically incur overlimit fees.

Then just pay off the remaining balance. After that point, it will become 'fully' closed.

opinions4u

I just wish to remove the temptation

I bought two pairs of scissors for £1 in Tesco this morning.

huxley309

True, i suppose that is my best option really.

Thanks.

[Deleted User]

huxley309 wrote: »

They wont close it, i asked them and the only way they will is to fully pay the balance off.

They won't absolutely close it witout the balance being paid off, but they can close it in the sense of cancelling the card and not allowing any more spend,. The same as they do when customers opt of rate increases. The account becomes 'closed' but with a balance to be paid off under the original t&cs.

Phone them up again and see if you get someone who'll understand.

huxley309

Ok thanks, perhaps that is where i went wrong. So i should ask them to freeze the card, perhaps that's where they got muddled, or the just didn't want me paying them off.

Im just wondering if i should wait for barclaycard to take over, they might change this for the better, and if it's for the worse i can close things as they have to by law when they alter the terms and conditions, as i did the same with halifax.

By law they have to abide there.

lisyloo

What's the issue here?
If you are certain you don't want to spend on it, then cut it up.
If you're not 100% then put it in a big block of ice, so at least you have to wait for it to unfreeze before you can use it and hence will avoid impulsive actions.