Egg to Barclaycard Transition Update

sscott5581

newfoundglory wrote: »

I got my new Mastercard at the end of September. I can't understand why it arrived so early given that it can't be used until 7th November....

Could the cards already be active?

Anyone received word about online servicing yet... because apparently that is meant to be coming soon....?

Online servicing starts going live on 4th November

jonesMUFCforever

Do I take it then that they will issue paper statements until you activate their online service?

lona_2

I contacted Egg to say I didn't want to move to Barclaycard and that I would like to end my account and receive any outstanding cashback.

I was told that I could close my account but I would not receive my cashback as they only pay it out in March.

My view of this is that Egg no longer have a contract with me and should pay me anything I have built up to date.

I have over £45 lying in my cashback and think it is only right that owing to the fact that I have not broken my contract with them then I should be reimbursed any outstanding monies which is mine.

miller

My prediction is the 1% will end up as Barclaycard Freedom in March (i.e. fewer retailers where cashback can be earned).

I'll get the scissors out then (once the money is credited) and swap to my Halifax Clarity which is waiting in the wings (effectively between 1.66% and 1% on a spend of £300-£500 pm respectively for current account holders with the £5 reward).

Froggitt

Barclaycard customers signed up for a Barclaycard with Barclaycard Freedom rewards. Not looked but am guessing its a toasters and irons kind of scheme.

Egg customers signed up for an Egg card with 1% cashback, which does not appear in any way comparible to Freedom. If they try to move them, and Im sure theyve already done market research, I would expect 50% plus to cancel.

Why would Barclays pay hundreds of millions of pounds for Egg, only to destroy that customer base within a year?

lisyloo

My view of this is that Egg no longer have a contract with me and should pay me anything I have built up to date.

The contract was always that you get nothing if you cancel the card before March.
Why not jsut put the card on a shelf til march.
Legally your contract is still being honoured so sorry - I understand your frustration but I don't think you have a leg to stand on.
My advice is to stick it somewhere safe and cancel after you've had the cashback.

newfoundglory

Froggitt wrote: »

Egg customers signed up for an Egg card with 1% cashback, which does not appear in any way comparible to Freedom. If they try to move them, and Im sure theyve already done market research, I would expect 50% plus to cancel.

Why would Barclays pay hundreds of millions of pounds for Egg, only to destroy that customer base within a year?

Exactly. This is well reasoned and logical - which is exactly what Barclaycard won't be. I am still expecting the 1% cashback not to last 12 months, maybe 6 if we're lucky.

However, the interesting thing is the MSE site with the article on this says that basically your existing terms remain (ie. those with Egg Money currently paying £12/year will still be paying the £1/month). This doesn't apply to me as I have had my card since 2005, but I wouldn't be paying for a card which decides to offer toasters when you could switch to a card to no annual fee and get the same.

Probably best Barclaycard doesn't annoy customers paying an annual fee which, lets be honest, is pretty rare outside of Amex.

But I'm ready to go back to my 1.25% cash back Amex card!

Fruit_and_Nut_Case

lisyloo wrote: »

I don't think you have a leg to stand on.

I have to agree. I'm sure Barclaycard's highly-paid team of lawyers has already looked into this.

lisyloo

Well Egg never had to pay the cashback before March, so why should Barclaycard have to do more?
Sorry but it's always been the case that you forfeit cashback if you OR the merchant cancels the card early.
I know Barclaycard have a poor reputation but I can't see they've done a lot wrong here as they are passing on almost all the benefits.
The only minor annoying matter is sending out the cards early that people have to keep with PINs in their home.

Froggitt

I have no special feelings for or against egg or Barclays. I never used egg customer service, and Ive never had a Barclays account.

For me, its about the cashback. End of. I had a Conran card paying 1%, I had a GM Card when they paid 5% off new cars (used £2,500 in points twice!!!), I opened a Halifax debit card paying 1% specifically to buy a new car. They all get snipped when they change the rules, reduced the cashback, and tried to make it a bit more profitable for them.

I am a loyal customer to my CC while my CC is being loyal to me.

Say Barclays paid £500m for £1m customers. Thats £500 for me. I spend the full £20,000 a year on my egg card every year. Are they really going to ask to be snipped just a few months after acquiring me, or maybe they should make do with the current scheme and recoup my costs over ten years or so, rather than hope I can be as profitable as a Freedom customer.