Egg Nightmare!!!!!!!!!!!!!

Cracked_EGG

I am one of 100 000 EGG customers who had their card account facility closed without justification or explanation. I had a small balance which has now been cleared . I am now trying to cut all ties with this company and I being presented with hurdle after hurdle. In order to close the account I must pay 2 pounds this is for a service that was withdrawn from me remember, any credit balance which there is must remain on the account for three statements 90 days before I can have the credit returned. They will not send me a cheque but will pay into an account that has no relation to my present circumstances. Customer service has been appalling , very rude and incompetence of the highest degree.Prior to the facility being removed from me the APR was increased from a competitive rate of 16.9% to 23.9% then 26.9%. I feel I have been used and abused by a company in order to help swell their profits. I write this as anybody considering an EGG product should avoid like the plague as it is an experience I certainly do not want anybody else to go through:mad:

johnllew

Wil paying the £2 solve your problem? Sounds like a no-brainer.

~Chameleon~

Why did they close your account? Was it the Egg Visa or Egg Money card you held?

Staciep88

TBH I would just pay the £2.00 and then you have done what they have asked and then leave them to it, if you then come into more problems you can say that you have done what they said so what are they playing at? hopefully some1 in the same situation will be along soon x

MABLE

Cracked_EGG wrote: »

I am one of 100 000 EGG customers who had their card account facility closed without justification or explanation. I had a small balance which has now been cleared . I am now trying to cut all ties with this company and I being presented with hurdle after hurdle. In order to close the account I must pay 2 pounds this is for a service that was withdrawn from me remember, any credit balance which there is must remain on the account for three statements 90 days before I can have the credit returned. They will not send me a cheque but will pay into an account that has no relation to my present circumstances. Customer service has been appalling , very rude and incompetence of the highest degree.Prior to the facility being removed from me the APR was increased from a competitive rate of 16.9% to 23.9% then 26.9%. I feel I have been used and abused by a company in order to help swell their profits. I write this as anybody considering an EGG product should avoid like the plague as it is an experience I certainly do not want anybody else to go through:mad:

Pay the £2.00 and move on. This obviously is making you very bitter and twisted. Also my experience with EGG has been nothing but A1. However I have always found the Advisors very helpful. They sit there all day taking calls and I find it hard to believe they set out to be rude to anyone.

nothingwitty

MABLE wrote: »

Pay the £2.00 and move on. This obviously is making you very bitter and twisted. Also my experience with EGG has been nothing but A1. However I have always found the Advisors very helpful. They sit there all day taking calls and I find it hard to believe they set out to be rude to anyone.

I too am one of those who have been bumped off by Egg. No problem. I am also livid that they have increased my interest rate so much. I now pay £150 a month, £80 of which is just to pay the interest! I cannot afford to pay any more. Have contacted Egg who say the only way I can have a lower interest rate is if I defualt on my payments!! In short, they have done little to help or even try to help and maintained that I have no option but to keep paying the extortionate interest (26.9%) on what is now effectively a loan.

This sort of fiasco and charging people to close their account (when it was Egg who terminated the agreement) would make any reasonable person bitter and even perhaps a little twisted. It is great that you have had A1 experiences with Egg but that doesn't always hold true for everyone...

benf90

Paying £2 to close an account?

Somethings not right there... the only reason they could be asking for £2 is if there is still a balance of that amount. If there is a balance of £2 then surely they are entitled to it?

Did you perhaps have a balance on it that you cleared by paying with a cheque? If so that could explain a balance of £2... as that's the fee they charge for making a payment by cheque.

If there's a balance of £2 then pay it straight away, otherwise you'll just end up paying interest on it.

When there's a credit balance on a card and it's sent back to someone it's sent by BACS to the bank account details that Egg have on their system. This'll be the bank account that has either has or has had a Direct Debit set up on it.

If you want it sent to a different account then why not ask them to do that? I believe they state the reason they don't send cheques is because they're an online bank that deals electronically, and that they're not a clearing bank so it would cost them more to send out a cheque (which is also the reason they charge for receiving a cheque).

With all due respect it was well documented on here at the time Egg closed the accounts that this was done because they classed the customers as having become more of a credit risk. At the time there was also a backlash from customers that believed they had a good credit history etc.

Now I don't wish to sound controversial, but they did give an explanation for your account being closed and maybe they are justified in closing the account.

If your interest rates were previously increasing then that points to you being considered more of a credit risk.

Paul_Herring

~Chameleon~ wrote: »

Why did they close your account?

I got the impression they were one of the victims of this:

http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=429969&in_page_id=9

http://www.dailymail.co.uk/news/article-512040/Senior-MPs-inquiry-Eggs-160-000-card-freeze-hits-prudent-customers.html

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/04/cmdebt04.xml

~Chameleon~

Paul_Herring wrote: »

I got the impression they were one of the victims of this:

http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=429969&in_page_id=9

http://www.dailymail.co.uk/news/article-512040/Senior-MPs-inquiry-Eggs-160-000-card-freeze-hits-prudent-customers.html

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/04/cmdebt04.xml

Oh I see, I wasn't aware of that, thanks!

I'm surprised they didn't close my accounts then too as I'm one of the ones they never make any money out of either