Egg Question

coys1000

I have had my egg card pulled in their cull,which was fair enough as i was maxed out but never overlimit,and never missed a payment.i was a bit naughty this month,and went 50 over my limit,as i thought !!!!!! their taking the card anyway.so when i went on site there was a big message alert saying im 50 over clear immdiately which ive done.

but just got a little concerned,as when card was pulled they said i could continue with min payments.is there anyway they could just demand the whole amount back immediately.?:eek:

clio

Coys
i,m just new here,is this "cull" to do with the credit crunch we are suffering!!

jonesMUFCforever

If you go over your limit then yes there is a possibility that they will give you a month's notice for you to repay the lot.
They can do this but it is more profitable for them for you to carry on with the minimum payments for donkeys years!

coys1000

jonesMUFCforever wrote: »

If you go over your limit then yes there is a possibility that they will give you a month's notice for you to repay the lot.
They can do this but it is more profitable for them for you to carry on with the minimum payments for donkeys years!

i thought you had to seriously default repeatedly for them to request full payment.i was only 50 over limit for a week.

CannyJock

coys1000 wrote: »

i thought you had to seriously default repeatedly for them to request full payment.i was only 50 over limit for a week.

Their T&C's probably don't specify "serious", but you've probably put a missed payment marker on your credit file.

Were you trying to justify that bit where they made the ridiculous statement about people having their card closed because they were potentially risky?

Given that you'll be needing to apply for a new card at some point, have you just shot yourself in the foot regarding your credit report?

coys1000

CannyJock wrote: »

Their T&C's probably don't specify "serious", but you've probably put a missed payment marker on your credit file.

Were you trying to justify that bit where they made the ridiculous statement about people having their card closed because they were potentially risky?

Given that you'll be needing to apply for a new card at some point, have you just shot yourself in the foot regarding your credit report?

T&C actually says "serious"

19.2 As long as we have sent you the correct notice as required under the Consumer Credit Act 1974, we can ask you to pay the full amount which you owe us under this Agreement if you:

• seriously or repeatedly fail to comply with your obligations under this Agreement;
• die; or
• become bankrupt, are sequestrated, or if a proposal is made for a voluntary or other arrangement with all or any of your creditors

it was a bit rash of me,but actually it was the interest that took me over.

CannyJock

coys1000 wrote: »

T&C actually says "serious"

19.2 As long as we have sent you the correct notice as required under the Consumer Credit Act 1974, we can ask you to pay the full amount which you owe us under this Agreement if you:

• seriously or repeatedly fail to comply with your obligations under this Agreement;
• die; or
• become bankrupt, are sequestrated, or if a proposal is made for a voluntary or other arrangement with all or any of your creditors

it was a bit rash of me,but actually it was the interest that took me over.

Won't qualify as serious then, just a blip on your credit file.