Egg Account

[lisamac8]

Hi all,

 

When going through my statements i have come across these.

Charge for cash advances.

 

Do i include these in the charge list and what others should i look out for.

 

Thanks

[Mistermind]

Cash advance fee (1.5%, £2 minimum?) has always been lawful and unreclaimable.

 

Overlimit penalty and Late Payment penalty are reclaimable as unlawful for being excessive, plus the debit interest (if any) which Egg levied on these penalties, as demonstrably itemised on your monthly statements.

[lisamac8]

The interest rate on this is abit wierd when i took out the account i could have sworn it was 0% for six months or something like that but as i go through the statements it shows that at the start it was at 0.944% in may 01 then goes up to 1.019% in sept 01.

 

[lisamac8]

While going through statements i have come across

 

10 Aug Misc

outstanding

[lisamac8]

While going through statements i have come across

 

10 Aug Misc

outstanding balance £582.91 min pay due £11.66

Monthly interest rate 0% *Finance Charge* £1.22

 

 

Is this right or not or am i just silly

[Mistermind]

Most credit cards which offer 0% interest for X months for balance transfer, usually have a clause in fine print, that if you exceeded limit or miss a payment, then the 0% concession becomes null and void. You could ring Egg or research their jungle of a website to confirm if "finance charge" is their way of manually overriding the 0% concession, for the aforesaid reason. Doubtful if you would get the result you want. Monthly interest can go up and down as Egg feels like, but they are obliged to give advance notice, in their case web info for this paperless, letter-less card company.

 

When you request refund, try to say you plan to go to the FOS, who will charge Egg £360 win lose or draw. That often persuades Egg that settlement is the better part of valour.

 

Good luck.

[lisamac8]

Here we go again sorry to go on like this but upon going through my statements still!!! i have come across this

 

Statement 07 jan 05 - 31 jan 05

 

balance bf - 2291.73

31 jan - Payment received £5

31 jan - Charge off account - 2061.53

31 jan - refund of interest - 225.20

 

Very, very very

 

Closing balance 0.00

[Mistermind]

That statement was nearly 3 years old. If even you cannot remember what happened, and you suggest I am a mind reader I shall take it as a compliment.

 

Was your card closed 3 years ago with balance transferred to an Egg Loan Account? Was your £225.20 interest cancelled or written off by arrangement? If you have a statement for the opening balance of your Egg Loan account, then that will prove the continuity with the closing balance(?) of your old Egg card.

 

I am not Sherlock Holmes, I am merely Dr Watson.

[lisamac8]

Hi mistermind

sorry

i went with B & E in 2004 and something happened in that time i am not sure what but here are the statements before middle and after.

 

07 december 04 - 07 january 05

balance brought forward £2,296.73

31 dec payment received - £5

closing balance - £2,291.73

 

07 january 05 - 31 january 05

Balance brought forward £2,291.73

31 jan payment received £5

31 jan charge off account - £2,061.53

31 jan refund of interest - £225.20

closing balance - £0.00

 

07 february 05 - 07 march 05

balance brought forward - £2,286.73

28 feb payment received - £5

closing balance - £2,281.73

 

I never closed the account nor got any correspondence from egg that they had done this, should i just ring them?????

[Mistermind]

It looked as if in January 2005 your interest was taken off, then your card balance was taken off.

 

Then the same interest and balance was put back on, resulting in no change. Because Egg sends out no statements and letters, if you do not regularly logon and read your own statements online it is quite easy to miss what they were doing and why.

 

You might remember something from 3 years ago, was there a change from one Egg account to another? You might like to check with Egg, they may have a trail explaining these movements. But as you neither gained nor lost anything, is there anything to gain by finding out -- by hanging onto the phone talking to one Eggployee after another?

 

So long as you can get hold of an itemised list of unlawful charges, that is all you need. And the list of debit interest accrued on said unlawful charges.

[lisamac8]

thanks mistermind for everything will get back soon lisa.

[steven4064]

Hi Lisa

 

It looks to me like some weird internal accounting on Egg's part. As Mistermind says, the balance at the end of Feb 05 is correct so I wouldn't worry about it.