I've just been to the Egg website and see that all reference to Egg Money has been removed. Normally there's mention of the Egg Card and Egg Money, but there is now only Egg Card links available.
I haven't seen anything in the media or on the Egg site to say that the product was being pulled?
The link to the 'Banking' part of the site is below:
http://new.egg.com/visitor/0,,3_11078--View_146,00.html
Any ideas?
As a current holder I'm hoping that there's no change.
I have a egg money card and account, not canx as of yesterday.
The Egg Money agreement has been removed from the 'Legals' page as well:
http://new.egg.com/visitor/0,,3_57308--View_1073,00.html
It may be that it's now not open to any new applicants - I can't see how anyone can apply for it now?
Just checked on the egg site, egg money still there. May only be for existing accounts though as you suggest.
Where are you seeing it? I still see it when I log in but, as I said, it is not available as a product on the main egg site which would enable new applicants to apply for it.
Just found this hidden on the egg site:
http://new.egg.com/visitor/0,,3_108938--View_2319,00.html
Suggestions on the cashback level when it's reissued? 0.5%, 0.25%? What reduction in benefits?
Just gone onto usual egg site and then into accounts. All i'm saying is that egg has not withdrawn existing accounts and, as you indicate, that they may have withdrawn for new customers.
I'm feeling a bit lucky then, only got my Egg Money card a fortnight ago!
This doesn't mean they'll be modifying the agreement for us current holders right? I guess they'd have to inform us in writing
They pulled it a couple of weeks ago around the 22/11/08. Some discussion (at the time) on the stoozing site...
http://www.stoozing.com/forum/YaBB.pl?num=1227385196
Maybe the 4% in-credit rate is being reviewed. If/when yet another base rate cut comes it may be paying more than many savings accounts.
They pulled it a couple of weeks ago around the 22/11/08. Some discussion (at the time) on the stoozing site...
http://www.stoozing.com/forum/YaBB.pl?num=1227385196
Oh, I am so behind the times! Cheers YB ;)
Not sure what they're going to do with it, but IIRC when they 'pulled' their entire savings range recently it wasn't gone as long as this!
Have read the thread you posted, YB - interesting take on the prospects for the future of the card. Reduction of interest rate on +'ve balance may be a certainty - how can egg justify paying base rate + 2% on a credit card when the majority of banks are cutting savings rates to 2 or less %.
The 1% CB rate appears luxurious in comparison to other CC's, even with the ceiling of 200 pa. Hopefully they don't take an axe to it, but if Citi are looking to recoup profits, there are probably harder ways to claw back a few pounds.
any news on if this is coming back?
I don't know what non-Egg customers or people who've already got an Egg Money card can see, but as someone with just an ordinary Egg card I might be able to offer something new (or maybe not). When I use my apply menu Money is still listed though you can't actually complete an application for it. What it brings up is the following (I've tried to recreate it as accurately as possible):
BOX1
Egg Money is taking a break.
We're not accepting new applications for Egg Money at the moment. Come back soon for further information on our website. Watch this space...
BOX2
Existing Egg Money customers
For you nothing has changed, you can continue to use your card and service your account as normal. And still benefit from all of this:
>1% cash back on all purchases.
>4% gross pa/AER variable on positive balances in your Egg Money account.
>24 hour online account management.
>Great offers with selected retailers.
-----------------------------------------
I'm not quite sure why the 2nd bit is on a screen that's connected to applications but that's what it says.
Seems like it's good news for those with it as they don't seem to be planning any cancellations, for now at least. The rest of us will just have to wait and see what they come back with when it's relaunched in some form or other.
Still nothing about Egg Money on the Egg site, although it was down yesterday for maintenance. The link above still works for the update page on Egg Money but all reference to it on the main site has been removed.
Will it return in its current form? What is likely to happen with current cardholders? Egg previously migrated (forcibly?) all "Advantage Card: powered by Egg" cardholders to Egg Blue didn't they, when the ACpbEgg was scrapped?
|
