Egg Credit Card Review

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Egg Credit Card
1.3 stars
Average rating for this product is: 1.3 out of 5

From 8 ratings and 74 reviews

Thumb down 19% of users recommend this product

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paulrb's Review of Egg Credit Card

30th Dec 2008

Overall Rating

1 stars
  • Value for money
    0.5 stars
  • Loyalty scheme
    No
  • Used card for
    1 year and over
  • Customer service
    0 stars
Good Points

Card was easy to set up, I liked being able to do everything on line, and the monthly minimum payment system meant that I wouldn't run into the sorts of problems that I did with the Nationwide's card when I was travelling abroad and missed a single payment and they simply cut off my line of credit, leaving me stranded.


Bad Points

Levying interest on whole balance even when most of it has actually been cleared.


General Comments

I have had an Egg credit card for about 3 years. Mostly it has run along OK during that time, with just the usual minor irritations of seeing introductory offers inviting people to run up debts they can't afford that existing customers then pay for with their much higher interest rates/charges - but that is just the usual bankers folly that has led the UK economy to its current pretty pass!
On my most recent statement, however, I found that although I had as I thought cleared the balance (£480) I had been charged £7.60 interest. When I contacted Customer Services, they first told me that this was due to a balance I had not cleared on time when I first opened the account. As this onviously made no sense at all, I went back to them and was then told that I had not in fact cleared the whole balance. When I checked, I realized that I had in fact made a small error and that 23p was in fact outstanding. By my reckoning, the interest on that amount should have been less than half a penny, but Egg have charged me interest on the whole balance instead. So far, Customer Services have failed to take a more reasonable view of the matter, so I can see little alternative but to close the account. It's not a huge amount of money, but there seems to me a principle involved - that one shouldn't have to pay interest on monies that have already been repaid.

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