Egg raises interest rates again

brightonman_2

I have just received a letter from Egg this morning telling me that as of April 9th, their interest rate with rise by another 3% to 24.9%.

This represents a rise of 9% in as many months.

I have been paying off card balances as fast as I can, but still having a substantial balance with Egg means that they have me -- and I imagine many others -- over a barrel. :mad:

isitenough

Yep. Not had a letter yet, but imagine it will arrive eventually.

Like you say, try to pay off as much as possible each month, but still quite a lot outstanding, as at one point we did a balance transfer when we had a 0% rate, and now it's finished we're stuffed.
We're trying to get rid of a lot of cards we have (which did hit double figures at one point, yep I know, it was stupid but we're working on it, 3 have gone in the last 2 months), but don't want to apply for anything else just yet to improve our credit rating.

Oh well, deep breaths.....it will work out....just keep saying it!

---lee---

brightonman wrote: »

I have been paying off card balances as fast as I can, but still having a substantial balance with Egg means that they have me -- and I imagine many others -- over a barrel. :mad:

Are you in a position to apply for and transfer the balance to another 0% card? I'm sure you've already considered this, but I thought I wound mention it anyway.

brightonman_2

I wish I was, lee. Unfortunately not.

jonesMUFCforever

Are you still spending on the card?
Are you paying more than the minimum payment?