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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Guest's Review of Egg Credit Card

24th Apr 2009

Overall Rating

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

Currently, absolutely none.


Bad Points

Service, interest rates, culture.


General Comments

Egg started off well, as a new internet provider I used them for both my credit card and my car insurance and they were extremely competitive. Since then they have become what I can only describe as money grabbing and verging on irresponsible lenders.

They recently raised my interest rate on my credit card from 16.9% to 21.9%, despite the fact that I was within my limit, and in the 6 or so years I've had the card I've never once gone over my limit and have always made payments on time. Sometimes my balance is quite high, sometimes I clear it, but I have never not made at least a minimum payment each month.

To me, to raise interest rates by that amount when the Bank of England has dropped the base rate to 0.5% is astounding.

I am clearing my balance slowly as I no longer wish to be a customer of theirs, and despite the fact that payments leave my current account immediately they take 7 working days to be applied to my Egg account. Sitting in their account earning interest while I pay their exorbitant rate.

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