Egg Loophole - Case Study needed

Skint_Badger!

My Anniversary offer is this month. Im looking to transfer £3700 from my Halifax card.

So am i right in thinking that the 2.5% transfer fee becomes, in eggs eyes, a purchase and i will be charged 16.9% straight away on it?

CannyJock

Bumping this for a reply, was this a false alarm or out of date about their transfer fee being treated as a purchase?

Stavros_3

Are you one of the 7% ?

http://news.bbc.co.uk/1/hi/business/7222336.stm

ilikethissite

Hi Dan

please email me on [EMAIL="mrbhatia2002@hotmail.com"]mrbhatia2002@hotmail.com[/EMAIL] with all the details about the Sunday times article, as i dont come on this forum very often

thanks

V

gormangastgam

Hi, I dont know if any of you can help me but I've ben with egg for a few years and I recently transferred a large chunk of my balance to another card to get interest free etc and then I lowered my credit limit by half on my egg card. I never miss payments and always pay slightly more than the basic repayment however I have just recieved a letter saying they are ending there agreement with me in 35 days and for me then to cut up my cards! why do you think they have done this? I am a student but I have been for over three years now so that cant be the problem.

nedsram_2

Hi gormangastgam. I wouldn't take it personally. There is no logic in their "decisions". If there was, why was I refused the typical APR with an impeccable credit record, and only offered less than half the credit limit I had with my previous Egg card "having taken your income into account"? When I later asked for the credit limit to be increased, they flatly refused, again "having taken your income into account". When I pointed out what our income was, they again refused, but " I could reapply if my circumstances changed". I then replied saying that in that case there would be no point in bothering to apply again, whereupon they increased the credit limit!

As I said these people are quite irrational. When they stuck pins in the customer list, you just happened to be one of the names they got.

gormangastgam

Thanks Nedsram, I later found the forum about Eggs recent developments which consists of people similar to me who have also lost there card for no real apparent reason. Thanks your advice - I feel much better knowing I haven't done anything wrong.