Newest Review: ... and the fact that everything seemed very user friendly. I was given a decent credit limit that was in line with my other credit cards... more
Read your small print
Member Name: romybuzzer
Date: 23/07/02, updated on 23/07/02 (125 review reads)
Advantages: Competitive APR
Disadvantages: customer service, charges
When I needed a good interst rate for my current Credit Card Balance, Egg was one of the heavyweights in the market. This is because they make a lot of noise in the media and they are very predominant.
It was my thinking that hey must have some reasoning behind their prowess so I decided to check them out and move my balance to them.
An attractive Balance transfer APR was offered which I jumped at immediately but this soon ran out. 6 Months is all you get and I think they do not offer the 0% APR anymore anyway.
However, 1 thing I did notice compared to my previous car provider was the lack of paper statements.
Once a month I would recieve an email to inform me that my online statement was ready to view. This would be useful if I had good internet access which I didnt at the time or If I could remember the password which I frequently forgot.
This is where customer service became a nightmare. After calling them repeatedly and navigating the un user friendly menus the staff proved unknowledgeable and sometimes rude. They stated without my Creidt Card number they could not get me through Security.
How can this be? I had provided them with everything else they needed? Mothers maiden name, etc,etc.
After calling back I did manage to unlock my account and access it over the web to my horror!
I had a big balance at the time (around £4K). I was paying £150 a month of this of which about £42 was interest. Yet, my acount hardly seemed to go down. After looking at my online statements, it appeared that they were charging nearly £60 in credit card protection! I was paying £150 a month to them yet my balance was dropping by less than £50 a month!
Angrily I called them up stating that I never asked for protection.
They claimed it is automatically provided unless the customer states otherwise so If you have an Egg Card and you dont check your statements much, Have a look!
I cancelled my immediately. r>
They do offer a good online setup if you can remember your password and also offer much more than just a credit card. They offer Egg Savings and Egg Loans to people all online. Much easier than going into the bank. However, I have found them not very reliable when you need some human contact.
Their long Term APR is much better than many high street bank credit cards but there are still better options available. Check out Tesco if you want a good deal.