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Egg credit card charges - refused by FOS


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I made request to Egg for refund of charges e.g. overlimit charges etc - they refused and I made complaint to FOS who have upheld Egg's right to charge what they like despite it being in excess of £12 recommended by OFT

 

Has anyone else had this experience with Egg?

 

I guess that I have to give up on this one other than pointing out to FOS that Egg's charges exceed those recommended

 

Any advice welcomed on possible next moves

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On 5 April 2006 the OFT pronounced a fair charge to be £12 for credit cards in general, but made a special dispensation of £16 for Egg who claimed that as a cyber bank with obligatory DDs they chalked up fewer penalty charges, and therefore needed to be higher to pay for their IT and admin costs etc. All this was based on Egg's "genuine pre-estimates" not Egg's audited costing figures.

 

You could call Egg's bluff and lawfully require Egg in court to reveal the latter not the former. 4 years after OFT's starting gun Egg still does not want such a showdown in court which would establish a precedent if it were to escalate to the high court, binding on the entire credit card industry. Egg is unlikely to change its stance now, and eyeball-to-eyeball will blink at the last minute and refund.

 

Issuance of the N1 form in Small Claims Court should be enough. The more Egg believes in your resolution the faster they will bow to the inevitable. If unfamiliar with online filiing of N1 others will be better on advising you on procedures.

 

See 01 weeks - 30 APR 2007 - WINNING TEMPLATE LETTER - Eggmail then 2-day payout - moc1982 v Egg

 

 

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