I am the owner of an EGG credit card, I am one of life's naughty people that do not pay off the entire balance at the end of the month. But I am this month!! Oh yes
Anyone who reads this and knows or is an owner of an Egg credit card, I urge you please, to look at your emails and statements. Yesterday they emailed me to tell me that from March my interest rate will rise from 17.9% (Bad enough) to a whopping 21.9% (daylight robbery rate)
So Dear Egg, if you think I am paying to top up your coffers after your parent companies greedy dealers bought crap stocks to bump up their bonuses, you are mistaken. When the interest rates are at their lowest in history I am not going to be party to your profiteering and I hope you go bankrupt!
6 comments:
Carol,
It's more annoying than that! Your link leads to the Egg home page, where they are announcing 0% for balance transfers and 16.9% APR for new card holders!
I was one of the Egg Card holders whose cards were cancelled last year. I'd put a BIG bill for my boat on my card that took it up to the credit limit and decided to let it ride for three months rather than get a loan. I had a direct debit going so that they would always take the minimum amount, and I didn't think about it.
Unknown to me, the minimum amount WASN'T enough to pay the interest, so it went over the limit. This struck me as stupid on their part. They had a DD authority, but they didn't bother to DD enough.
The first thing I knew was Egg phoning me at work to talk about my card, and me saying 'no, I'm sitting next to other people, I don't want to talk on the phone'. The next day, a rude letter arrived saying my card had been cancelled.
Hi Andrew
Thanks for stopping by. Yes that is another of their tactics apparently, maybe one they will use on me, because basically the email says if I do not wish to accept this new rate I can cancel the card. Luckily I am in a position to pay the balance off and I will be doing just that.
Ha it is a bit ironic that the link opens to a page that is offering 0% balance transfers. Oh well.
I'm one of those people who pays off the credit card bill every month, it works for me. I thought interest rates were supposed to be coming down???
I had a rather large outstanding balance which I am just about to pay off, they obviously thought that I was an easy target. They look at your payment history and decide they can rip you off.
Anyway I have just emailed them and told them I will not be doing business with thieves!
They were really good to me when I called and told them I couldn't make the payments anymore (change of economic circumstances). They froze all interest and agreed to accept £40 a month instead of £190. Ok, so it'll take a long while to pay it all off but at least I won't have to lose sleep through worrying about it anymore.
I thought that was Virgin? Well whoever I am glad to hear it, they earn enough money out of us. Virgin had just reduced my interest oon the threat of closing the account and the trading standards office. Hey everyone Facebook need you!!!
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