Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: waspy on 06 February 2008, 18:39:35
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What are egg playing at!! This is the second time they've wrote to me in two weeks offering me a credit card when they're laying of existing customer's.
This doesn't make any sense to me at all.
I've never had a credit card & never want one, if i can't afford cash i don't buy.
Any one else had a the same offer of a card??
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yep egg capitol one tsb etc at least 4 a week
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They're freezing the debts of some people who've got in a little deep, but need to sucker a few more quid out of those with a good credit rating to compensate.
Kevin
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They're freezing the debts of some people who've got in a little deep, but need to sucker a few more quid out of those with a good credit rating to compensate.
Kevin
It must be my credit rating their after then. Well they'll wait/want for a very long time
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In all seriousness, ULSTER bank are offering a 0% balance transfer for six months WITHOUT a flat percentage arrangement fee.
As far as I know, that's the only bank with a deal like that. Most charge between 2 and 4% which, in the short term is just as bad as paying standard interest rates!
I've taken one out and transferred £800 to it just to keep the loan interest free. I hate paying credit cards' interest >:(
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yes waspy got home to one today, its gone in the shredder. if you think what you have/have not got in the bank was private think again!! all the banks monitor accounts and share info............... >:(
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Yes i have and i get the bloody lot asking do i want one and the answer is no you can stick it and then it goes in the bin ;D ;D ;D
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If i get a letter from say egg, i wait till i get one from perhaps capitol then post egg to capitol in the pre pay envelope. Dunno if it f*cks there system up but it gives me great satisfaction. IF i wanted a CC i would go and find one myself, i hate the preasure selling stuff that bombards my letterbox >:( >:(
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If i get a letter from say egg, i wait till i get one from perhaps capitol then post egg to capitol in the pre pay envelope. Dunno if it f*cks there system up but it gives me great satisfaction. IF i wanted a CC i would go and find one myself, i hate the preasure selling stuff that bombards my letterbox >:( >:(
I like it, I like it, yeh
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this sort of activity is quite common, they call it harvesting.
they go after people who look like they have a good credit rating, they won't know for sure until you have applied, at that point they can do a full on credit search and establish your potential worth to them
motmann: the banks and financial institutions cannot, as far as i am aware, share/sell in depth information, they can pass it to other companies within the same group but for example HSBC would not be able to tell Lloyds what you have in your current account without your permission.
If you miss a payment on a load/credit card or any other financial commitment then they can report that to either experian or equifax, this is common business practice and is allowed, on the same token if you pay on time they will also share that info, so it can work for you as well as against you.
Egg have been planning this 'cull' of customers cards for a long time, they are not cancelling the accounts, they are taking the cards from customers for one reason or another, in light of the current financial issues in the US and UK i can see this being the first of many companies to do this, i believe Citicard are considering it as well.
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There is no need for credit cards, EVER. I tried it once..Cap 1..what's the point? free if you pay in full each month? Well if you can afford that you don't need it anyway do you? If not you pay the interest, so go without what ever it was you HAD to have. Personal loans are cheaper & i'll never do that again either. Nearly paid off now, 1 year to go. You don't need that holiday, car, clothes big daft plasma telly if you don't have the cash to pay for it.
Trust me i'n only a truck driver & take home £350/£450 per week that's not much really but i no longer have to keep a family, £260 mortgage but still paying off loans for stuff i wanted but did'nt need.
Other than your mortgage finance is like drugs..Just say NO.
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How do you all buy stuff off the interweb with no credit card and the free fraud protection provided?
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By the way I'm no longer a Bank Manager :)
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A credit card is a tool, nothing more .. not a miracle worker... nothing clever about them ... just a useful tool when used correctly.
No credit card has ever got its owner into any trouble ... the OWNER has got themselves into trouble !
An inanimate object does not have the ability to do anything ... :)
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By the way I'm no longer a Bank Manager :)
Do tell :)
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A credit card is a tool, nothing more .. not a miracle worker... nothing clever about them ... just a useful tool when used correctly.
No credit card has ever got its owner into any trouble ... the OWNER has got themselves into trouble !
An inanimate object does not have the ability to do anything ... :)
My wife does the ironing ;D
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Had an egg card payed it off in full and they kept sending me a monthly
bill when i had not used it.
Got it sorted eventualy,cut the card up and told them to take me off their system.
I believe they froze the accounts of ppl who paid their debt in full every month,not making enough profit on those cards.Bad debtors,or those that pay the min.amount, have not been frozen.(more profit from the interest)
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Yes i have and i get the bloody lot asking do i want one and the answer is no you can stick it and then it goes in the bin ;D ;D ;D
I have taught you well....
Now, about my Barclaycard...
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
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I have loads of CC's as I've been a card tart for years. I take full advantage of their offers and deals, and when these end the cards lie dormant or get cancelled. I've never paid interest or transfer balance charges, as I'm able to pay balances off monthly through good management.
The latest one I took out was a Halifax One card which offered interest free purchases for 9 months. Each time I use it the funds which would have been used are placed in an interest earning instant access account, so the Halifax has in effect been paying me to borrow from them. Next month I will pay off the full balance before the end date, pocket the interest I've earned, and either not use the card very often or cancel it as the whim takes me.
I've been waiting for years for one of these coys. to refuse to give me a card on the basis that they've sussed out my little game, but it hasn't happened yet. And only the Brittania Bldg. Soc. has ever cancelled my card through non-usage.
I will use my Egg Money card after next month and enjoy the cashback facility on this, but this is only paid once a year.
Someone told me that having dormant cards is not a good idea from the security/fraud point of view, so I might have a clearout so that no clever sod can turn the tables on me.
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I have loads of CC's as I've been a card tart for years.
;D
The very fact you can do this shows how much money they are making from mugscustomers who are less careful and fall into their trap. Credit cards are very handy for avoiding having money sitting in current accounts, etc. that pay bu66er all interest...
However, if they ever started charging annual fees again, mine would be heading for the shredder.
Incidentally, I always keep a couple in my wallet because you never know when one of them will spot some "uncharacteristic activity" and pull the plug, usually when you're a long way from home. >:(
Kevin
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How do you all buy stuff off the interweb with no credit card and the free fraud protection provided?
Absolutely. Apart from convenience, the fraud protection on its own is worth having a card for. Then its down to personal discipline not to abuse it.
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!
Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!
People do.......
I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.
It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.
I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....
My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.
some people are better at handling credit than others, me i am not so for me i stay away these days
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Jay i dont own any and have'nt done i have been lucky and always payed by cash but it nice to here your getting there :y
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Jay i dont own any and have'nt done i have been lucky and always payed by cash but it nice to here your getting there :y
Cheers,
Mine was a result of a lot of things, depression being one of them!!!!
Put simply i lost control of the situation, by the time we realised it was getting to the point of chucking the towel in and declaring bankruptcy!! that was one route i was not going to go down....
there are soome really good organisations out there that can help as well.
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Jay i dont own any and have'nt done i have been lucky and always payed by cash but it nice to here your getting there :y
Cheers,
Mine was a result of a lot of things, depression being one of them!!!!
Put simply i lost control of the situation, by the time we realised it was getting to the point of chucking the towel in and declaring bankruptcy!! that was one route i was not going to go down....
there are soome really good organisations out there that can help as well.
I know what is like i have had enough in my time of life ::)
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!
People do.......
I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.
It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.
I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....
My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.
some people are better at handling credit than others, me i am not so for me i stay away these days
I cannot handle CCs I have managed 2 months without them and I am getting a loan to cover ALL debts including the balance of the car loan.
I don't know how big yours were compared to mine.
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!
People do.......
I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.
It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.
I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....
My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.
some people are better at handling credit than others, me i am not so for me i stay away these days
I cannot handle CCs I have managed 2 months without them and I am getting a loan to cover ALL debts including the balance of the car loan.
I don't know how big yours were compared to mine.
60K+ :o :o
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Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.
I don't know so much :-/
Handling cash, cheques, etc. costs shops money too. Cash can be forged, it can be stolen from them, so they need safes, security, secure collection of the takings, a float of change in each till, etc.
The fact that very few shops will now discount for cash, IMHO, and very few (except small businesses) worry about small CC transactions of a couple of quid or so makes me think they're actually getting their money's worth out of credit card transaction fees.
I'd also rather carry a credit card than cash. If some scumbag stole it they wouldn't get very car (not at my expense, at any rate) and they'd be traceable and more likely to get their collar felt.
Kevin
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Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.
I don't know so much :-/
Handling cash, cheques, etc. costs shops money too. Cash can be forged, it can be stolen from them, so they need safes, security, secure collection of the takings, a float of change in each till, etc.
The fact that very few shops will now discount for cash, IMHO, and very few (except small businesses) worry about small CC transactions of a couple of quid or so makes me think they're actually getting their money's worth out of credit card transaction fees.
I'd also rather carry a credit card than cash. If some scumbag stole it they wouldn't get very car (not at my expense, at any rate) and they'd be traceable and more likely to get their collar felt.
Kevin
if i'm doing a big purchase (£50 + ) then discount is ALWAYS asked for, and frequently given.
Christmas shopping i managed close to £100 discount just by asking nicely and giving a cheeky little smile, works wonders
i don't do full price.......unless i'm selling :y
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Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.
I don't know so much :-/
Handling cash, cheques, etc. costs shops money too. Cash can be forged, it can be stolen from them, so they need safes, security, secure collection of the takings, a float of change in each till, etc.
The fact that very few shops will now discount for cash, IMHO, and very few (except small businesses) worry about small CC transactions of a couple of quid or so makes me think they're actually getting their money's worth out of credit card transaction fees.
I'd also rather carry a credit card than cash. If some scumbag stole it they wouldn't get very car (not at my expense, at any rate) and they'd be traceable and more likely to get their collar felt.
Kevin
if i'm doing a big purchase (£50 + ) then discount is ALWAYS asked for, and frequently given.
Christmas shopping i managed close to £100 discount just by asking nicely and giving a cheeky little smile, works wonders
i don't do full price.......unless i'm selling :y
selling what i wonder lol ;D ;D
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Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.
I don't know so much :-/
Handling cash, cheques, etc. costs shops money too. Cash can be forged, it can be stolen from them, so they need safes, security, secure collection of the takings, a float of change in each till, etc.
The fact that very few shops will now discount for cash, IMHO, and very few (except small businesses) worry about small CC transactions of a couple of quid or so makes me think they're actually getting their money's worth out of credit card transaction fees.
I'd also rather carry a credit card than cash. If some scumbag stole it they wouldn't get very car (not at my expense, at any rate) and they'd be traceable and more likely to get their collar felt.
Kevin
if i'm doing a big purchase (£50 + ) then discount is ALWAYS asked for, and frequently given.
Christmas shopping i managed close to £100 discount just by asking nicely and giving a cheeky little smile, works wonders
i don't do full price.......unless i'm selling :y
selling what i wonder lol ;D ;D
anything i can get my hands on ;D ;D
currently have a 6 year old daughter up for sale, slightly gobby and akward but evetually does what she is told ;D ;D
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Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.
I don't know so much :-/
Handling cash, cheques, etc. costs shops money too. Cash can be forged, it can be stolen from them, so they need safes, security, secure collection of the takings, a float of change in each till, etc.
The fact that very few shops will now discount for cash, IMHO, and very few (except small businesses) worry about small CC transactions of a couple of quid or so makes me think they're actually getting their money's worth out of credit card transaction fees.
I'd also rather carry a credit card than cash. If some scumbag stole it they wouldn't get very car (not at my expense, at any rate) and they'd be traceable and more likely to get their collar felt.
Kevin
if i'm doing a big purchase (£50 + ) then discount is ALWAYS asked for, and frequently given.
Christmas shopping i managed close to £100 discount just by asking nicely and giving a cheeky little smile, works wonders
i don't do full price.......unless i'm selling :y
selling what i wonder lol ;D ;D
anything i can get my hands on ;D ;D
currently have a 6 year old daughter up for sale, slightly gobby and akward but evetually does what she is told ;D ;D
I have the same but she is 12 and very moody and mine will only some times but she has special needs even though i tell her that she is should do i ask of her and she can be very hard work but only for me and very one else she is good for.
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Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.
I don't know so much :-/
Handling cash, cheques, etc. costs shops money too. Cash can be forged, it can be stolen from them, so they need safes, security, secure collection of the takings, a float of change in each till, etc.
The fact that very few shops will now discount for cash, IMHO, and very few (except small businesses) worry about small CC transactions of a couple of quid or so makes me think they're actually getting their money's worth out of credit card transaction fees.
I'd also rather carry a credit card than cash. If some scumbag stole it they wouldn't get very car (not at my expense, at any rate) and they'd be traceable and more likely to get their collar felt.
Kevin
if i'm doing a big purchase (£50 + ) then discount is ALWAYS asked for, and frequently given.
Christmas shopping i managed close to £100 discount just by asking nicely and giving a cheeky little smile, works wonders
i don't do full price.......unless i'm selling :y
selling what i wonder lol ;D ;D
anything i can get my hands on ;D ;D
currently have a 6 year old daughter up for sale, slightly gobby and akward but evetually does what she is told ;D ;D
I have the same but she is 12 and very moody and mine will only some times but she has special needs even though i tell her that she is should do i ask of her and she can be very hard work but only for me and very one else she is good for.
My daughter is the same, for my wife she will do anything......for me nothing >:(
it's my punishment for working away from home i reckon
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currently have a 6 year old daughter up for sale, slightly gobby and akward but evetually does what she is told
She needs a pet to keep her occupied. As it happens I have got a particularly daft black cat for sale...
It belongs to Mrs. KW but she won't mind... ::)
Kevin
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!
People do.......
I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.
It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.
I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....
My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.
some people are better at handling credit than others, me i am not so for me i stay away these days
I cannot handle CCs I have managed 2 months without them and I am getting a loan to cover ALL debts including the balance of the car loan.
I don't know how big yours were compared to mine.
60K+ :o :o
Over 20k, and it took about 5 years
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I cant live without a credit card but, thats down to traveling with work and expenses.
It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.
The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.
I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!
People do.......
I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.
It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.
I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....
My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.
some people are better at handling credit than others, me i am not so for me i stay away these days
I cannot handle CCs I have managed 2 months without them and I am getting a loan to cover ALL debts including the balance of the car loan.
I don't know how big yours were compared to mine.
60K+ :o :o
Over 20k, and it took about 5 years
i'm embarissed to say how quickly i managed to do that :-[
lets just leave it at financial stupidity on a gross level that i have paid dearly for since :-X
but it taught me a valuable lesson
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currently have a 6 year old daughter up for sale, slightly gobby and akward but evetually does what she is told
She needs a pet to keep her occupied. As it happens I have got a particularly daft black cat for sale...
It belongs to Mrs. KW but she won't mind... ::)
Kevin
oh no no no no.........
my daughter would love a pet, but i will not relent on this one
thanks for the offer all the same though ;)