knocked back by egg money

Steve1981

As I'm progressing with my stoozing I thought it was about time I applied for the egg money card - i read and fitted all the relevant criteria - however was declined - I private messaged them asking why - an have been asked in request the review in writing and to
"enclose any relevant information - for example, a letter of satisfaction if a previous CCJ has now been satisfied - that you believe may support your appeal."

I have never had any CCJs, so I assume this was as they say just an example rather than a hint. Thay have asked me to include 3 months current account statements - which I can get my bank to resend me and I thought that this months payslip showing the last financial year wouldn't go amiss.

Would it be advisable to show evidence of my stoozpot and that the current 11K i have on cards I could pay off, or would that show I would not be of profit to them?

so, my question is has anyone followed up on this and was they successful, is it worth doing or would it just be time for nothing.

Without the Egg Money card the next step of my stoozing with take a bit of a step backwards

Martinslovechild

Don't mention the stoozpot. The reason you want the card is because of the 1% cashback .

It's definitely worth following up. Over the years, I've had 3 rejections. I've always followed these up with a letter. In two out of the three cases, they overturned their decisions and offered me a card. The third company was one that I'd previously had another stoozing card with - they refused to budge (possibly because I hadn't made them any profit previously - and had even cost them a free MP3 player with my application for the previous card ).

YorkshireBoy

Definitely appeal the rejection, since your fast-stoozing will grind to a halt otherwise.

There a few success stories* on the stoozing site forum boards, and even a summary of the card's features you can use to beef up your appeal. The best one is perhaps the Egg Money card's usefulness as a budgeting tool because you can pre-load your monthly spending money.

Good luck.


* Use the search tool and enter a combination of "egg money pre-load appeal".

hebawom

Don't want to hijack the thread or anything. But I recently applied and only got £1000 credit limit. Is it worth appealing this?
This is the lowest limit I have ever gotten. On a card I applied for last year I got £6000. Or is this just the credit crunch?

NickX

You don't need a large limit for stoozing on Egg Money as you are using it to put a positive balance on from another 0% card, then transfer the funds to a high interest saving account.

Some stoozers have requested a low limit on Egg Money so that they can use that credit more efficiently elsewhere.

Steve1981

Cheers all am in the process of putting something together over the weekend - should be in a position to post before I send it off

Steve1981

In relation to my declined application for the Egg Money card and subsequent decline, I then Private Messaged you asking for more details behind this as I felt I met all the criteria. I was then asked to contact you in writing with my reasons for requesting you to review your refusal.

In relation to the initial criteria I was able to confirm that I am over the age of 18, and living at the same address for 3 years which is mortgaged in the names of my wife and I in the UK. I have regular internet access and a personal email account at home also. As you were able to see the bank details that I provided were also in my name and have a Direct Debit facility. Also you will see from your own records that I am not a current (or previous) Egg customer.

With regard to my financial situation as is stated above I have a mortgage for my home address and have also been employed by my current insurer for 3 and a half years, I have also included a copy of my most recent payslip showing earnings of £26,000 for the last 12 months. In addition to this I have included copies of my current account statements for the last 3 months showing my spending activity.

I have never missed any credit payments and have Direct Debits in place to ensure that this doesn’t change. I have never had a CCJ or anything else of that nature.

My reasons behind wanting the Egg Money card are that I feel Egg are a reputable company and I am looking for an organisation to associate myself with for the long term. I am looking for a means to simplify my finances, I feel the Egg Money card will allow me to do this as Egg have crafted a flexible and unique product which combines facilities for saving, spending and borrowing. I am particularly attracted to the 1% cash back.

I’d be very grateful if you would be prepared to take this letter and attached contents into consideration when reviewing your original choice to decline my application and hope that you will be able to overturn that original decision.

Yours Sincerely

(thanks to Yorkshire Boy, MartinsLoveChild - also to Clariman and the part I borrowed from his article on the Stoozing Website)

If there is anything I should include that I haven't or should omit - please let me know)

Cheers

YorkshireBoy

Steve1981 wrote: »

If there is anything I should include that I haven't or should omit - please let me know)

Lose the bit about "reputable company" and "long term"...it's a bit creepy-crawly.

Lose the bit about missing payments and CCJ's...they can see that from the credit search.

Include savings account/investment balances in your accompanying information.

You haven't specifically mentioned the pre-loading aspect, and it's relevance to your monthly budgeting.

Tag the 1% cashback onto the end of the pre-loading line...almost as an 'icing on the cake' statement, rather than saying you are "particularly attracted" to it.

Mention opening an Egg Savings account/ISA, and that you'd like to have a single provider for all your financial products.

MOST IMPORTANTLY...provide a mobile (and landline) telephone number and invite them to call you (at any time) to discuss any queries they have, or if any clarification is required. Beware though, Egg telephone interviews have been known to last up to 45 mins (my own lasted 35 mins, and all I was asking for was a small £2K limit increase on an old Egg Card :rolleyes:).

Good luck.

Steve1981

Cheers YB - I'll get on to it in the morning - I only mentioned about no CCJ's as that was specifically mentioned in the reply to my mail.

I like the bit about offering a number, very good

35-45 minutes - what kinda of stuff can they ask for that period of time?