Have you had your Egg credit card closed? Take part in our poll...

Sola

I got a closure letter today, and I fall within the typical age range. Largish balance, haven't spent on it in a few months, have been paying more than the minimum as I've been working on getting the balance down, have never missed a payment on anything in my life. These things happen - can't say I'm too bothered. I'll keep plugging away at it until it's paid off.

tlck9

I've had a similar situation with Barclaycard, they have reduced my credit limit to the balance I have on there...to be fair I only took the card because it was a low rate for the life.

I have A+ credit rating and have repaid my debts so to be honest not sure why they have done this, but it hasnt bothered me as I'll pay off and close

Hope78

Got my letter today but like an earlier poster going to view this as a way of never being able to run up debt on it again. Actually cut up my card last summer after joining this site.

sheppy26

This is the first time I have ever posted anything like this online - so please be gentle!

I received the letter on Saturday from EGG which referred to my EGG Money Account. But I have also got an EGG Credit Card, and as far as I can make out EGG are more than happy to let me keep spending on a card that is charging me 21.9% interest, but not on the card that was at 16.9%
I did have some issues last year and crept over my limit a few times - usually only 10 -20 pounds, but I imagine that soon as you are over, the actual amount is irrelevant as the damage is done. But I also had problems with my other card. I suppose we will not get to the bottom of it, but one thing is for sure - I'm going to pay my debts off asap!!

Zebedee69

Iv only just recieved Egg Money, im paying on a small balance for the past three months. No letter yet!

Skintsville

I've just had the letter today and am not happy!

I understand that sometimes business may need to do things like this.. I am not unreasonable but I am seriously questionning their methods for choosing people.

People whom always pay off in full don't earn them any money = but I have always had something on there!

People who only use it whilst the interest is 0% don't earn them = but I often have some on there that are on various different rates.. so that's not me either.

I have never missed a payment in the 5 years that I have been a loyal customer, and they were also quite happy to sell me a loan last year as well that I still have with them (incidentally, the loans are unaffected by this). Money regularly comes in and out of my card account but they are always making money on my interest.

One common vein may be that I never make purchases on it. The only time my balance increases is if I do a blaance transfer... is anyone else just doing that and had a letter??????

Well, at least because I don't make any purchases, I can just leave the money where it is and just make the monthly payment until it is clear so I may be less affected in that way then some others.

Is anyone else in a similar situ to me?

Skintsville

smiley1954

Just re-read my letter which starts....

We are ending your Egg card agreement - account number xxxxxxxxxxxxx

further down reads.....
we are giving you formal notice that your agreement will end in 35 days

then it reads...
The Egg card agreement continues to apply untill the the balance is repaid in full

either the agreement has ended or continues.....cant have it both ways surely

Hope78

Skintsville,

I kinda similar to you, last time I used the card was February 2007 and that was a balance transfer. Before that I can only remember other balance transfers too rather than purchases. Also like you I'm just going to keep dd (which is more than minimum) going until it is cleared.

EnandEm

I owe about £2,500 on mine and pay more than the minimum repayment by DD every month. However, I did, about a year ago have a very bad experience, which was that I went over my credit limit. What happened was that I had very bad pneumonia and was 'walking wounded'. My husband and I had gone to B&Q to get something or other that he was going to pay for. While we were there, someone crashed into my car (with my two young children in it). I have plenty of evidence for this. Anyhow after all that we got into the store and queued up, only to find my husband had forgotten his wallet. By now we were all, understandably a bit fraught, so I thought we could pop the bill on my card, which I hadn't used for months. I was a bit foggy at this point, it has to be said. Anyhow got home and I checked the amount was ok, and then realised to my horror, I had gone over my limit. I phoned them, told them about the mistake, put in the money to cover the difference. THEN I had about a week where they kept phoning, emailing and texting me to say I was over my limit and being incredibly rude, although I had immediately sorted it out. They wanted me to convert to a loan, which I would have considered, but they were so rude, I didn't. They said I had a poor credit rating, which was an outright lie, and in direct contradiction to MBNA, who keep increasing my limit. In fact I did make one late payment with MBNA recently (I know, two mistakes in one year -shock, horror) and they phoned me to say I was such a good customer they would withdraw the charge as they 'liked' me so much. Abbey similarly, if i make a mistake, withdraw charges, as they think I'm a good customer. I have a lot of debt, but am quite obsessive about keeping it under control and paying on time and keeping within limits. And I use money manager, as it's a great tool to help with all this. I'm just going to turn 40 this year. I think, yes we should manage our money responsibly, but we are human and if we make the occasional mistake there should be some leeway if it's obvious it is a mistake and there are extenuating circumstances. Sorry about the long post... Anyhow I was just using it to pay for my OU courses in psychology. Do a course, pay it off over the course, then do another. No great loss. I think their psychology stinks though; treat people as though they're irresponsible idiots and that's how they'll behave.

dogsbreath

This may be relevant to the overall gist of the thread.

I applied for an Egg Money card recently.

I have an excellent credit rating and no debt. I had previously had an Egg credit card, which I had used as a 0% interest tool on £700.

Egg wouldn't issue me an Egg Money card until I rang them and had a half hour interview on how I was going to use the card.

I suspect that I will not be alone in this!