Talk Egg into reducing APR?

angrybarry

Hi All

Just phoned Egg to "suggest" they reduce my APR from 21.9% and was told this was fixed and they were unable to reduce it. Even threatened to BT the lot to another company and they said "Go on then?"

Is this true, is it fixed?

riad_2

In a nutshell yes... unless there are extreme extenuating circumstances in which case debt collections can normally set up a payment plan on a lower rate of interest... but it only really comes to that when there's been defaults on the account and you are unable to keep up with the current payments.

To be honest loyalty does not get you anywhere with credit cards! Just BT it already!!! And not trying to be sound harsh, but threatening to "BT it elsewhere"... why would the agent care! It's unsurprising the attitude is "do i care?"... :rolleyes:

angrybarry

Didn't sound harsh at all, I was just surprised by nonchalant attitude to customer loyalty/service from Egg, also the fact that when I called Virgin they were quite happy to reduce the APR and had wonderful customer service. <shrug>

Just wondered if Egg's response was becoming more commonplace i.e. "leave see if we care" I guess it is

Thanks for the info Riad

Andybez38

I also asked egg (money) if the apr could be reduced on my account. Albeit mine was 16.9% only to be told no. They however increased the credit limit another £1500.

Managed to get my barclaycard limit down to 9.9% through asking .

jonesMUFCforever

When Egg was owned by Prudential it never made any profits.
Now it is owned by Citibank - you are on 21.9% because it is their opinion that you are a bad risk. You taking your business elswhere is what they want it is called 'managing away'.

M_Thomson

riad wrote: »

In a nutshell yes... unless there are extreme extenuating circumstances in which case debt collections can normally set up a payment plan on a lower rate of interest... but it only really comes to that when there's been defaults on the account and you are unable to keep up with the current payments.

To be honest loyalty does not get you anywhere with credit cards! Just BT it already!!! And not trying to be sound harsh, but threatening to "BT it elsewhere"... why would the agent care! It's unsurprising the attitude is "do i care?"... :rolleyes:

As E Jones says above Egg will not lower rates on interest for customers with a good payment record. Plenty of other credit providers will though.

Billy_Blagg

I've renegotiated with most companies at some time or the other but Egg never budge. And it's nothing to do with your credit scoring or payment history either. I've got £18k in an Egg saver and an Egg credit card with a zero balance and they still wouldn't give me a decent rate to let me transfer a balance across from a 0% ending card.

vwman_3

ejones999 wrote: »

Now it is owned by Citibank

Well you learn something new everyday, thank's for that information, and that's reason enough for me to bin my egg card, glad there's nothing owing on it.

cm233lh

vwman wrote: »

Well you learn something new everyday, thank's for that information, and that's reason enough for me to bin my egg card, glad there's nothing owing on it.

Are you saying you'd rather be with Prudential?

vwman_3

cm233lh wrote: »

Are you saying you'd rather be with Prudential?

No what I am saying is that after the complete ****-up that Citicard made on a balance transfer I requested when I had a Citicard I vowed then NEVER to have anything more to do with them.
It took 5 months to sort out.

jinny103

We asked Barclaycard and Morgan Stanley to reduce their interest rates but they both refused, problem is been refused new cards for balance transfer so we struggle on for few months until we apply for another card. (we have been advised to leave it a while before we re-apply for new card)