Egg card

[horselady]

Has anyone else paid off their Egg card-ye gods!! What a bunch of idiots at that place. I used some of my pension money to pay off some credit cards, simple as could be with 2 of the major ones, just worked out the final interest etc. took a payment and closed the account there and then. Then it came to Egg, rang them 10 days ago, they took a payment, warned me there would be more interest, even on a closed account, asked me today for another �57 and then said that on 25th April there would be another months interest of 50 pence just to finish!! At that point you had to peel me off the ceiling. Eventually the woman said she would add the 50 pence to the �57 and took it all today and assured me the account is now formally closed, but what on earth are they playing at, how could there possibly be interest on a zero balance??

[Buenchico]

It sounds like their computer system only adds the interest immediately prior to sending out a monthly statement. If you (appear to) pay off the balance 'mid month', there will still be interest to pay for first part of the month, even though the computer doesn't actually do the calculation until the usual 'end of month' date. (So it appears that you've been charged interest on a zero balance).

Anyway, 50p is nothing compared with the problems I had paying off a mortgage. In late 1994 I handed the Woolwich a cheque for around �36,000, in full settlement of my mortgage debt. In early 1995 the Woolwich sent me a formal notice of their intention to repossess my house! When I convinced them that I'd actually paid off the mortgage, they tried to charge me a large amount of interest for the period between me presenting the cheque and them finally accepting that they'd received it. After I threatened to contact the local press they cancelled the interest. It then took them 3 years(!) to send me the deeds and formal notification that there was no longer a charge against my property. A month ago I tried to sell a small part of my garden to my neighbour, only for the Land Registry to tell me that there was still a charge registered against my property in respect of the mortgage!

Chris

[horselady]

Oh dear Chris, what a mess! It's so frustrating isn't it, you're just one of thousands to them but it's so important to you. I just want to know that my credit reference will say that these debts are now cleared, but I have a horrible feeling that the egg one will haunt me for a while!

[horselady]

Since typing the above I've just looked at my bank account on-line and Egg have put �76.98 back into my account!!??

[kujawski]

i agree egg are a bunch of c****, they try it on, recently i asked to cancel my payment protection (which is wothless anyway) which worked out at 85 pound odd per month, as so i could pay it off quicker, i have about 6k on my egg card, to which they promply increased my apr to 25 odd %, from the previous 14.9 %(the call centre staff couldnt give any reason), so the amount i was paying was the same and the amount each month that i pay didnt make any difference to the amount outstanding,

what a bunch of c****, im gonna transfer it to city, they are quite (or have been) quite ok.

[horselady]

kujawski-they did that to me too, that's why I was determined they would be paid off. Thank goodness I was able to do it at last, when I think of all the interest they've had off me over the years it horrifies me.

[kujawski]

i know they are just sooo unfair, i wish i would win the lottery then i would just be an awkward customer,

buying stuff , mixing it up then claiming on their card insurance, just to be a right pain, god how i would love that!!!!