New Anniversary Offer on Egg Credit Card

fizzypop

Recd today by post....0% on BT for upto 7 months with uncapped 2.5% fee.
Only available 6 feb to 29 feb 08 for existing holders with 0% to 6 sep 08.
Anyone else been sent this offer? Usual min of £100 upto 95% of credit limit.

jonnyboy80

No.. but with a 0% deal finishing next month would love to get that deal on my Egg card! Mind you on the amount I was looking to transfer to Egg, the uncapped fee would have been a fair amount....

martin1018

Not only did I get this offer in this mornings post, but Egg haven't closed my card account, despite having a credit limit in excess of £10,000 and not having used it for over a year! And when I do use it it is paid off very quickly.

It's great to have a 'fall-back' should the need arise, but Eggs lack of consistancy is a concern - I'm not complaining but why haven't they cancelled my card?

DifferentFromTheNorm

martin1018 wrote: »

Not only did I get this offer in this mornings post, but Egg haven't closed my card account, despite having a credit limit in excess of £10,000 and not having used it for over a year! And when I do use it it is paid off very quickly.

It's great to have a 'fall-back' should the need arise, but Eggs lack of consistancy is a concern - I'm not complaining but why haven't they cancelled my card?

The standard anniversary offer is for 5 months. For the past few months some customers have received a 7 month offer instead of 5. The majority are still 5 month offers though.

Egg closed 7% off their customers card. APACS say that 68% of UK adults pay off their credit cards in full every month:

http://news.bbc.co.uk/1/hi/uk/7236171.stm

If we presume that around 68% off Eggs customers clear their balances in full, then 7% less means there's going to be a lot left that do pay off the full balance.

That's presumimg that the whole 7% is made up of those that clear the full balance, when it's not. If you look at the poll on here as well, the biggest group are those who have 'larger' debts and pay at least the min amount.

So, the answer to your last question is that they didn't deem you, or the other 93% (or 2,139,000) customers, to be a 'risk'.

johnmoney05

Haven't used my egg card for 5 years. They still sent me new card. Anyway, just BT the whole lot of £14,250. Looking for some good rate of saving accounts to bank the money now.