Hypno's cheaper than therapy debt diary.

hypno06

Egg 2 is remaining open for the moment at least - can't understand why they would close one, and not the other, so I expect to get a letter in the next batch they send out!!

Yes, MBNA is horrid and I would happily hammer it down - I don't trust them one bit.

APRs yes, again, they are pants of the greyest order. I couldn't even get a vanquis card 3 months ago (applied for the topcashback) so still don't think I could face rejection again. I will try again for something with a lower APR after Easter I think. However, I do think we may be stuck with them, sadly, and frustratingly.

SarahNeedle1872

Its a shame because it means u have to work twice as hard to pay it off! What about OH getting a new card?

hypno06

OH is unable to get a new card......the three biggest on that list belong to him so he is considered higher risk because of the existing amount of credit he has!

Only Egg 2 belongs to me, so in theory I should be able to do something with this.......except I also have an egg loan with £17k outstanding.....which scuppers me a bit when applying for new cards!

Rock...............me...............hard place :rolleyes:

Gemmzie

Are Egg freezing the interest on the cards they are removing? Because surely otherwise they are breaking terms.

hypno06

Gemmzie wrote: »

Are Egg freezing the interest on the cards they are removing? Because surely otherwise they are breaking terms.

No, their letter is so "in their favour" it is unbelievable - they can basically do what they like it seems. If interest was frozen I would be very happy, and would welcome them doing the same to my account.......but interest and payments continue as normal......he just can't use the account any more, so it is almost like a high interest loan!!

:mad: :mad: :mad:

taxi73

WOW that is a hard one...I really don't know the answer as they are all horrible rates.Also they are the worst cards in terms of customer service apparently....I agree let the loans run their course.
Its such a close thing...MBNA...I think has the slight edge as they seem to be putting everybodys APR up and expecting 5% min payment as well so this would probably clear the fastest because of the 5% min and the overpayments..so should come down really quick...
I sold my car by the way tonight ...

Gemmzie

I still can't understand this Egg thing fully, surely it'll end up wrecking people's credit ratings?

I'd get shot of that then, dodgy ground on that one and they might decide to recall it at any time. I trust Citibank less than MBNA - pity because I liked the ethos of Egg.

pania

I know what you mean about credit ratings, just had a default removed and my rating has GONE DOWN!!! is bonkers...

I too would go with the MBNA, as you said they are amazingly untrustworthy when it comes to their apr's and puts them up more times than erm... can't think of a good analogy but you know what i mean!!!! ;-)

boredofbeingathome

Hi hypno, well done on totals. I too have a contract with the devil - Mbna, well OH does. We cleared the card and then they offered us an anniversary o% deal until nov. It was an opportunity to clear his egg card of £4,800 at 21.9% and his overdraft. I'm having kittens about it though because i dont like them as a company and had to deal with them when his good self didn't pay them- god what nightmares phone calls etc then they put up the interest rate on my virgin card, after its 0% finished, was at 15% for 3 months then 24.9% and then 35% in the space of about 6 months and i never missed a payment. Checked my files and nothing negative came back only association with husband!! I paid that one off, and then they put his interest rates up, so i am very wary but saw it as an opportunity to get rid of his egg card when he recieved the letter!!

hypno06

Taxi, I have posted on your diary - well done on the car :T

The day I can close those credit cards will be party party party day!! I think I will try and hit MBNA next.........or Egg........no, MBNA..........or Egg........ :rotfl:

Oh well, one of them will be gone by the end of the year......that much I am sure of! I think it will be MBNA, and should have Egg gone by Easter next year too.