APR HIKE BY EGG ON BOOTS ADVANTAGE CARD! (Egg Card)

Member Name: sue.51

Product:	Egg Card
Date:	12/04/01 (171 review reads)
Rating:

Advantages: No interest on purchases for 6 months, 14.9%APR - Sudden hike on website 07.05.01, Good customer services

Disadvantages: Repayments can only be done through direct debit

Attention: (31.05.01) Beware if you have one of these cards - Egg have increased the APR to 12.9% for existing internet customers (14.9%APR for new customers and existing postal customers) which divided over a year, makes them not much more competitive than most of the new breed of cards.

There wasn't a category for this card, but it is an Egg card, and all the customer service is operated by Egg over the phone or from the Boots web-site.

After all the marketing hype surrounding the Egg card when it was first launched, like everyone else I wanted one.

CUSTOMER SERVICE
I initially applied for the Egg card on launch, and was rejected, I could not understand why, as I have a mortgage and pay my bills on time. Not long after my second attempt at both Egg direct and Boots Advantage, resulting in another refusal, I received a letter from Egg at my address to someone I had never heard of, and had certainly never lived here; the previous owner had the house from new, 70 years ago, and is now deceased. I contacted Egg, who were extremely helpful and patient at my ranting, they agreed to investigate and update their records, and confirmed that they would also investigate if there was any link between this and their refusal to issue me with a card.

A couple of days later, I went on to the Boots Advantage site and again applied for a card, I too wanted this 0% interest rate on purchases for 6 months that my friends were enjoying. Must be third time lucky, bingo, they confirmed acceptance of my application and offered me a card immediately. The forms were received within a couple of days of the application, and my card about four weeks later.

APPLICATION PROCESS
The application was easy to complete (and has improved since it's launch), and when establishing the security procedure, it identified if a security password was too easy to recognise. The credit limit offered was OK, but not comparable to my other card, or
my friends generous limits, but at least I had got one this time.

CARD ACTIVATION
Card Activation is done through the internet.
Upon receipt of the card, I tried to activate it, yes you've probably guessed, I had forgotten the 'unusual' password I had selected. Cue, yet another early morning phone call to Egg Customer services, who were extremely helpful and re-established security after checking some details.

I was advised that my card had been activated, but unfortunately, when I came to use it, the machine in the shop I was in didn't recognise it. Yet another phonecall to the Egg customer services department, these guys are so nice and helpful, you lose all the will to be irate when you speak to them. I have since used my new card on a number of occasions without any problems.

BENEFITS
0% interest rate on all purchases for a 6 month period. (This is no longer valid for new customers - 31.05.01)
12.9% on balance transfers and on all purchases after this date. (Internet Accounts - Existing customers only)
14.9%APR for all new applicants both postal and internet
* 1000 Boots Advantage Points when you open your account.
* 1 Boots Advantage Point for every £1 spent
* 1 Boots Advantage Point for every 25p spent in Boots (Excludes pharmacy lines where you get 1 point/£.)


SITE
The site is relatively easy to navigate, and offers all the necessary information, although it does not possess the functionality of the Marbles site.

REPAYMENT OPTIONS - UPDATED 27/04/01
I am also a little confused over payments, don't know if anyone out there can enlighten me. I recognise that as it is an internet account there is no statements as such, save for what is listed on the internet, and that payments are made by direct debit. I wanted to pay an additional sum off the balance this month, and understand that the only way of doing this is to change your direct debit.
r><br>You are provided with three options.
To continuously pay the minimum amount every month;
To pay off the entire balance each month (on 0% interest, I think not); or
To pay a fixed sum each month.

This is all very well, but if you have a tight month where all you can manage is the minimum, and you have set up for a standard amount, how do you get around this? I must apologise to Egg for this, maybe I should have read the small print better -

NB: Providing you change any set payment a minimum of five days before the payments due date, this will be effected and the lower amount will be taken from your account.

Likewise, if you overspend on this card one month, say for a holiday etc, will the fixed amount be sufficient to cover the minimum monthly payment.
NB: You can set up a regular payment amount from your account, but Egg will automatically take the minimum amount from your account, if the set amount is insufficient to cover it.


SUMMARY
In summary, I am glad I got the long awaited card, but after the introductory 6 months, I will be watching the repayment capacity and interest accumulation carefully.

I believe now that my concerns about the interest rate are not as signficant, as providing you make any changes at least five working days before your payment is due, Egg will make the changes for you. This is little different to making an electronic bill payment from your current account.