Egg Policy Change ?

taxi73

After reading this thread (and panicking) and then trying to access their site for the last few hours..I decided to bite the bullet and phone them. Luckily I am not one having my card stopped. I paid the balance off in full the other day actually before even hearing this news.
I do not understand how they operate at all and come to these decisions.For what its worth I always let them take min payment by DD and then make a separate overpayment per month.I am S/E and have never missed or been late with a payment to anybody.
I feel aggrieved that that they have done this to such a lot of customers especially to people that pay in full..I can't even go with the idea of profitability as they have never made a penny off me as I'm still on 0% until May.
Are any of the people that are losing their cards still in the 0% period?

JudgeNinja

OK I admit I'm one of those people that owes almost everything to the Devil(referring to every credit card company). 4000 to egg 6000 to Abbey and a loan....

I've just recieved the letter..... I'm not overly bothered about the cancelling of the cards as I'm probably one of the many who are a credit risk and giving the risk of you lot a bad name, but my question is regarding any interest that I"m going to incur...and how much control I'm going to have or not have over any changes....

• They have cancelled their agreement with me so am I still liable for any interest?

Also with the personalised interest rate which mine was 19.9% which was checked the last time I was able to log in..... I'm wondering if I should just go to a debt counselling and get everthing written off........ any ideas???

greyster

Ninja, just transfer the debt to another 0% card.

LittleVoice

JudgeNinja wrote: »

They have cancelled their agreement with me so am I still liable for any interest?
Also with the personalised interest rate which mine was 19.9% which was checked the last time I was able to log in..... I'm wondering if I should just go to a debt counselling and get everthing written off........ any ideas???

Is this a wind-up?

They have not completely cancelled the agreement - they are still letting you pay back over time - and you pay interest.

And presumably you are able to pay so why should you not pay?

1jim

I have not had the letter ......yet??
The egg log-in page is down so cant check online to see if I have been affected by this and dont want to try using the card only to have the payment refused, I use this card as a back up card but pay off the balance in full every month so am probably going to get this letter but who knows. This is most unaceptable and totally against the principles of EGG when it was first launched, I guess its a useful reminder not to remain loyal to any brand or company because they will take any chance to shaft you

1jim

have just seen their site, the phrases "banking without the bother" and "you know where you are with egg"....all phrases they might need to reconsider given the way they have behaved over this

LittleVoice

1jim wrote: »

... and dont want to try using the card only to have the payment refused,

Even if your card account is affected and you have not yet received the letter, you can still use the card as normal for the time being. People are being given 35 days notice that they have to then cease using the card - it is not an immediate withdrawal of the facility.

Badger_Lady

I appear to have missed this, and I can only think it's because I was at maximum balance for many months last year (to get me through a tough patch). Following the credit crunch, my APR was upped to 27%, but I had already paid off the full balance when this took effect, and have continued to pay the full balance every month since.

To be honest, I don't use my Egg Visa any more, just my Egg Money. So I'd be OK if they took it away... but I'm guessing they looked at my history, said "oo yes, lots of yummy interest from that badger", and decided to keep me on.

Typical of financial services to get it so wrong!

Triker

Haha, I have to laugh I received a second letter today re my second Egg CC, so that's Egg money and Egg Green, what can I do? Rhetorical question.

I hope to pay them off when I get the money in fact in a way I feel very motivated to fling every available penny at them in order to clear the balances asap.

That way the interest payments they've had out of me over the years will disappear.....thought they were a business?

Triker

BTW my first letter arrived Saturday morning, my second letter today tuesday, dum dum duuuummmmm, are there more on the way, I reckon so.

Don't get mad, get even, claim any credit card charges that you may have incurred over the last 6 years. See Martin's article on the front page of the site away from the forums.........and remember never use Egg again.;)