Be very wary when applying for this card (Egg Card)

Member Name: barneyboo7766

Product:	Egg Card
Date:	17/05/09 (72 review reads)
Rating:

Advantages: Easy to apply for.

Disadvantages: Impossible to close, ridiculous rates!!

I signed up to this card about 4 years ago, young and naive thought it was brill my first credit card 0% balance trf and purchases. Each time i purchased someting i had the intention to pay back in full always paid back just the minimum!! After about a year they had increased my limit from £750 to a whopping £3500 and the ARP rate to 29.9%!! I was a student at the time and didnt have the resources to pay back that kind of money. I sent several letters asking them to lower my limit as i didnt want to have that kind of access to such a large amount of money. I dont think it is morally correct to give youngsters that kind credit limit knowing full well if they maxed out the credit card they would never be able to pay it in full, I know the consumer should take responsibilty but if the limit isnt set so high for so many youngsters the economy wouldnt be in the state it is at present So many people are allowed to borrow beyond there means!!
I have tried cancelling this credit card several time by email, post, phone and online but they will not close my account, several other people i know have had the same trouble closing there accounts.

Summary: Be very carefull when taking out, keep a very close eye on the ARP!!