Lets All Ditch Egg

helwarren

If they are concerned about risk or want to make money out of those that dont repay their balance in full - why have I been sent an invitation to apply? I am a housewife so only personal income is the child benefit and tax credit (husband employed but that wouldnt count) -with about £500 on other cards that could be transferred (0% to 1/5/09), which I would not call a high debt (although higher than I would like) and after the interest free period is up not likely to make much out of me unless assume I will continue to use the card. Have not applied -am considering though -so cant say they would accept me but wonder why they have mailed me? (have no other egg products either)

spotofbother_2

oatcake1 wrote: »

Lets all close our EGG credit CARD accounts or transfer to another card


How about all of us ensure that on D-Day (35 days from the date of THAT letter) we owe Egg £6.00 and have a Direct Debit in place for the minimum payment only ("The minimum payment will be:

• the full Revolving Balance if it is less than £5, but otherwise the greater of 2% of the Revolving Balance and £5 ...")

I haven't actually sat down and done the calcs on this, but the idea is that every month we pay a few pence in interest and make the minimum payment so that the balance moves painstakingly slowly towards the £5 figure.

Oh, the warming sense of smug satisfaction as 161,000 account balances reduce at the rate of a couple of pennies a month.

I have no real idea how costly or inconvenient it would be for them to have to continue to service the accounts, but I would not be surprised to receive a notice of an account adjustment which clears the balance!

Or am I just too wierd and petty? (By the way that's a rhetorical question!):rotfl:

Anybody else got any ideas for annoying them - preferably childish and ultimately futile, though I think there may also be an audience for any more serious suggestions ...

Lavendyr

I don't see how that works. If your balance is £6, then you'll pay £5 as the minimum payment, taking it down to £1. The next month, you'll pay off the full balance.