Egg Anniversary reclaim BT fee?

Hinduman

I have an egg cred card. When I took out the card you could do a balance transfer on the anniversary for free (0%) for 3 years(?). I did this for 2 years. On the third year egg started charging a fee (2.5%).

Has anyone successfully reclaimed back this fee? Surely it's a change to the original terms and conditions.

peterbaker

HinduMan wrote: »

I have an egg cred card. When I took out the card you could do a balance transfer on the anniversary for free (0%) for 3 years(?). I did this for 2 years. On the third year egg started charging a fee (2.5%).

Has anyone successfully reclaimed back this fee? Surely it's a change to the original terms and conditions.

I strongly agree with your sentiment HinduMan.

I was one of Egg's original customers and my final qualifying anniversary offer was in September 2006. But by then, they had sneakily discriminated against existing customers using the anniversary deal by introducing the fee. At that time they were experimenting with introducing BT fees and I am not sure that they actually charged a fee to new customers.

I KNOW that for at least part of the intervening period they were charging a fee on anniversary deals but no fee to new customers.

I complained hard to them but they were defiant. I must admit that I just grew tired of their attitude and satisfied myself that I got my money back by using their own procedures against them a different way. I also accused Egg of misleading marketing of their headline "0% APR" BT deals because the fee is ignored in their calculation of the APR. They have subsequently played around with their headline on the front page of their website, but I say it is still misleading.

Actually the matter you raise is a disgrace. Egg know that most of their customers and prospective customers do not have the mathematical skill to equate a "handling fee" to an APR and calculate it exactly. They are exploiting these people and they are as you say, reneging on original agreements to existing customers.

I declined to take an anniversary BT last September because of it, but not being able to borrow up to my limit for 5 months for nothing meant my budget was adversely affected by the cost of borrowing elsewhere (my offset mortgage and less good promotional offers from others).

I too would be interested to learn of other's experience in complaining about this.