egg cash back

Time to cut up my card then. I wasn't happy when they dropped it from %1 to 0.5%, this is the final outrage.

I spoke to Customer Services and they seemed to think I should be happy to loose the cashback, since they are offering excellent balance transfer deals instead (I don't have any balances to transfer). They also said they would be offereing special deals with selected partners in future (great I said).

I've just applied for a Accucard with a 0.8% caskback deal...

AMEX Blue card still offers 1% cashback

Posting from Peter Rogers

Replace NOSPAM with ntlworld to reply

I'd stopped using it anyway, so from my POV this looks like a gain, since they're now giving me an interest-free loan! (Assuming there aren't any gotchas, but I haven't spotted one yet - except that I have to remember to change the DD from full balance to minimum)

You don't need a balance to transfer, egg will let you transfer money straight into your current account. That's actually another reason to keep the card, if you take out another card which offers 0% on balance transfers to card accounts only you do the transfer to egg and then transfer it out into your bank account.

I've got and egg card but haven't heard anything from them about this - did you get a personal email or is it just on the website? if so, can you give a link please?

Lily

It is indeed on the website - see

and look at the bit about cash back (halfway down the page), "0.5 % Cash back Every time you shop with your Egg Card you'll get 0.5% cash back on all purchases until 31 March 2004. As from 1 April 2004 this will change to 0.1% on all purchases". As an aside, if you can get hold of one, the Capital One Circles Rebate Mastercard still offers 1% cashback (if you can get hold of one - people seem to recommend telephone applications).

Regards, Far

OTOH they are apparently

Is this offer open to everyone? I have not received an email of such an offer and cannot find any information on their website.

Was your offer communicated via email?

I moved from Halifax to Morethan's Accucard. They do 0.8% cash back. You have to pay your bill by direct debit or online. No taking cheques to your bank. Other than that, no problems so far.

When I called CS yesterday they said it has only just been announced that day, so no one had been informed yet.

Best is the way they try to claim that the changes are an improvement for the customer!

"Your Egg Card's always been a fab bit of plastic, and now we're introducing some great improvements that are all about looking after our Egg Card customers.

We also want to tell you that as of 1 April 2004, we're making some changes to your Egg Card Conditions. As part of these, your everyday cash back is changing from 0.5% to 0.1%. However, your cash back will still be paid in September every year, as normal."

It was an email, but I assume the offer is for everyone. In fact there seems to be a general offer that you get 5 months at 0% in the month in which you originally opened the account (which is apparently June in my case), but also all transfers in March will be at 0% until August 1st.

It was the same when they cut the cashback to 0.5% and introduced egg rewards instead - which now seem to have vanished, although I did get 2 years of free travel insurance out of them. But in this case it effectively is a bonus - just take the money and use it to put in a newly opened egg savings account with the extra interest for six months! (thus magnifying the total balances egg can show to potential buyers ...)

Goodbye Egg - Hello Mint

Vote with your feet if your bothered about the cashback (like me!)

Si.

"Stephen Burke" wrote in news:c1fm4r$ snipped-for-privacy@newton.cc.rl.ac.uk:

This thread on Martin Lewis's Moneysavingexpert site gives you all the details, plus what to do and not to do. It seems that there is a *loophole* in these new arrangements that may be advantageous to cardholders.

Incidentally, with all these email scams around, it occurred to me that it would be quite easy to do one in this format. Banks keep saying "we never ask for your PIN details", but here are egg sending me a legitimate (AFAICS!) email with several links to their web site (including some obscure numbers which presumably track the fact that they came from the mailshot) plus what amounts to an invitation to do a balance transfer as soon as possible. What would be more natural than to click on the link to read the details, and then navigate from there to log in to do the transfer? I would suggest that people don't use *any* links in emails to anything which requires a login. (Similarly for any links in usenet posts of course)

Received my offer by email today.

Ok i am trying to understand this.

My statement date is 18th of month and payment date of 2nd of month which i currently pay full balance. Having just received my last statement i have since purchased on my egg card, say 200.

Now if i transfer 9.8k as a balance transfer now and change my payment method to minimum payment i am guessing that i will be charged interest on the 200 at 12.6% throughout the 5 months, which is about 10.50.

I would benefit with the extra interest earned on 9,800 for 4 weeks at

4.75% which is 35.80.

Where as i could just stop spending on my Egg card and wait for my statement to be made, still paying off amount in full, then do the transfer towards the end of March. Then my April payment should bring my balance down to 0, but i still will only be able to transfer 9,800 before end of March otherwise i will breach my credit limit.

So i would be better off transfering the money now rather than waiting. Only problem is that with purchases waiting to be charged to the account i am not quite sure how much balance i have outstanding to transfer.

So there is a bit of a catch if you currently have a large balance on your account which you will have to clear before transferring the balance.

Is there any point in going for the bt on your anniversary when you can get the same 0% for 5 months transfer done in March?

If worthwhile you can clear due transactions by making an ad-hoc payment.

Daytona