Egg Policy Change ?

Psiloman

Sorry Clariman I'm obviously still too sensitive about this...but I will get over it

ravenk

Egg are just showing their true colours. They are the same as all banks.
Modern Bankings only principle is profit. They want you in debt ....
Suck the customer dry. They have zero morals.
Imagine if these guys were in goverment. The word ethenic cleansing springs to mind.
Still not a lot we can do ...We sampled the drug of credit cards and now they have us hooked. As far as they are concerned we are just users.

I'm going to cancel my egg card ASAP and tell them why.

ravenk

"If everyone only stoozed on a companies cards or only paid of their whole balance each month the company would struggle to make any money.
"

And the 3% they charge the retailer ?

YorkshireBoy

ravenk wrote: »

And the 3% they charge the retailer ?

The large supermarkets, where a great deal of CC spend is made, won't pay anywhere near that to their merchant acquirers. I'd be surprised if it was even 1%.

ravenk

YorkshireBoy wrote: »

The large supermarkets, where a great deal of CC spend is made, won't pay anywhere near that to their merchant aquirers. I'd be surprised if it was even 1%.

I stand corrected then. When I worked in a shop (1980 - oh to be a student ) it was 3 to 4 % ....


Maybe have a Citi Bank Telefon or ....BBC Bank In Need ....
Show touching stories of City Boys Selling their Aston Martins...
Chairman having to survive on £400K per year with no bonus ...

:rotfl:

UK007BullDog

A boss once said to me "Bad PR is better than no PR".

PR = Public Relations (press in the public domain)

Grade_A_Reject

UK007BullDog wrote: »

A boss once said to me "Bad PR is better than no PR".

PR = Public Relations (press in the public domain)

Was that Gerald Ratner then?

Repo

I received one of "The Letters" this morning for my Egg Money (Mastercard - £5,000 credit limit) account. I also have an Egg Visa account which I hope I won't be receiving a letter for!

I'm furious that they've not only told me in the letter that it's because I'm a bad credit risk but also that they've fed the press the same sort of BS! I'm probably a medium credit risk as I'm self-employed and use my credit cards for business so spending can quite easily mount up. However it all gets paid off when I get paid and I haven't been over my limit in years. The irony is that I used to have a Barclaycard Visa (£7,200 credit limit) and a Sainsbury's Visa card (£5,850 credit limit) in addtion to the Egg Visa and Mastercards. I paid both of those off and cancelled them last year without increasing the amount I borrowed on the Egg cards or taking out a loan.

I suspect I've been targeted because I make lots of low value transactions and always max out my cashback. It might be difficult for me to get another credit card due to my self employed status but if I can then Egg can stick their Visa card where the sun doesn't shine too.

Psiloman

A boss once said to me "Bad PR is better than no PR".

Was that Max Clifford?

ic

I'm currently working in Texas, and have been for the last month so have no way to check my post. I've just rung through to Egg and after a ten minute wait got through - I'm not on the list (I was worried, I'm relying on the card for all my expenses at the moment!).

I've had my Egg Money card for about three years, on the low rate of 8.9% APR with a credit limit of 3000. Normally I spend about 500 a month, though in the past two months with travel and Christmas I've been skirting close to the limit whilst I wait for expense payments to come through. I've always paid in full in each month and never paid interest.

A friend opened the account about six months ago as a way to budget - he got a 16.9% limit and puts 400 a month on to the account each month, which is what he is allowed to spend. He occasionally goes over, but always makes up for it the following month. He has had his account closed.