Egg Anniversary Date

If they are anything like other credit cards' offers, you must remember the date yourself. If you forget, a couple of months' interest will negate the savings from the interest-free period, just as your credit card issuer wants.

offer. Might even transfer more money to my current account before month end and stick it in a savings account to earn some interest. Eric

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Thanks Eric - that's exactly what I intend to do with it.

Cheers, Helen.

I think it is only five months not six.

Easy, just use

and just set it to notify you 1 month before so you have time to apply for a replacement 0% card, and also set it to remind you 10 days before to let you get the balance transfer to the replacement card done in good time.

"Adrian Boliston" wrote

Who said anything about a *replacement*? Please read the post!

There is the interesting question of which statement the first interest will be added to, as these are only issued once each month. I would expect the first interest to appear on the first statement after the six months is completed. If you pay the loan off before the prior statement you can be sure to avoid interest. If you pay the loan off the day before the six months is up, I would guess that, banks being banks, interest will be added. Anyone got this sussed?

As long as the payment has reached them (ie cleared) by the end of the inetrest free period then they would be in breach of contract if they tried to bill you interest. Statement date is irrelevant.

I don't see this has being hard to understand. Firstly totally dismiss statements, they are not important in the five months 0% interest issue.

Whatever month you originally was accepted for an Egg card is you anniversary month, irrespective of whether it was the first or last day in the month.

Suppose this month was January, then you have the whole of January to take advantage of your 0% interest offer to do the transfers that are required, transfers after January do not count towards 0% interest offer.

Your interest free period ends on the last day of May. From the 1st June you pay interest on the transferred balance you have outstanding.

Normal procedure is to stop spending on the Egg card two months before anniversary date (although you should not use an Egg card anyway these days for purchases as the cashback is very poor). When your statement arrives clear the full balance. Then on the 1st day of the month of your anniversary do a balance transfer to current account from Egg card. Continue to make the minimum monthly payment until about 10 days before the end of your 0% interest period then arrange to make payment in full.

"Helen" wrote in news:cf5gh6$r6o$ snipped-for-privacy@sparta.btinternet.com:

You need to be extremely careful, as there is a catch. As with anything Egg-related, read the small print, read it again and then read it again. See:

(link may wrap)

or:

At which point are you "accepted" for the card?

I received the credit agreement in the post towards the end of August last year and signed and returned it. On 1st September I received the email confirming receipt of the agreement and saying my Egg card had been sent out. On 5th September I received the card and activated it. Would my anniversary month be August or September?

Chris

I think you are being a little harsh on Egg here. This is standard practise for all balance transfers /credit cards and it clearly stated in the T&Cs. If you have a balance transfer debt on the card, and then spend on it some more, payments will go to the balance transfer meaning that you pay interest on the normal payments. I have a credit card debt with Capital one - 3.9% for the life of the balance. If I spend on that card I will pay interest on that spend until I have cleared the long term balance transfer. I will therefore never spend on the card and will treat it as the very very very cheap loan that it is.

you will get an email telling you when the period for transfers starts. If you have heard nothing so far I would guess that its sept for you. Phone them and ask of you *really* need to know now.

Egg tell you when 0% offer ends. My anniversary was August and my interest free period ends on 01/01/2005. No problem as long as I have repaid by then. Eric

"Eric Jones" wrote in news:cf8aia$4n7$ snipped-for-privacy@sparta.btinternet.com:

There's more discussion of this issue here:

It appears that Egg may not always tell people when their anniversary is due.

I don't know the answer to this question. Normally the start date is a couple of days before you actually receive the card, but you cannot afford to get this date wrong so the only solution is to send them an email asking which month is your anniversary period.

interest.Simple really. Eric

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So - does this mean you should send an extra payment if your interest free period ends 1st of the month and the statement date is 12th of the month?

Su

You don't get a paper statement with Egg.You would have to ask Egg that to clarify. My understanding is that in my personal circumstances my interest free period will end on 31 December 2004 and by that date I will ensure that I have paid them back.For the matter of a few days from statement date to end of interest free period I will not take a chance on what you suggest. Eric