Egg card interest rates going up again

me4bargains

:eek: I'm fuming. I've just recived a letter from Egg informing my interest rate is to go up by a further 3% to 24.9% :eek:
I've been desperately trying to pay of my balance (can only offered minimum) haven't spent on it for more than a year and have never missed a payment.
Last month they sent me a new card with an increased limit but i cut it in halve and threw it away.
last year they rose it from 13.9 to 21.9% :eek:
Whe In first took it I was paying 9.9%

I have bad credit so cannot switch to a cheaper option, and I think they know this so they are picking on their poorest most vulnerable customers like me.
Has anyone else been clobbered like this?

frugallass

yep - I got the same letter :mad: yet they're carrying on tempting the new customers with 0% this and 0% that - it's so frustrating when you're trying to keep your debt to a minimum and they go and do this

thisismyname_2

i totally agree with the previous posts! i'm a bit luckier than me4bargains,and i got a loan to pay off my balance and cancelled the card-had a call from egg to ask why i was doing this, so i told them its because you've put the interest up about 4 times in the past year-its amazing how helpful they try to be when you cancel the card!

hope you have better luck soon!

harryhound

Egg was set up by the Prudential insurance company in the run up to the dot com boom, however it never made a profit and this January it was sold off to Citi. This latter organisation has a tower block in Canary Wharf and from its American roots is trying to become the world's largest retail bank.

Having paid good money for Egg, are you surprised Citi is trying to make a profit out of you ?