Posted on September - 30 - 2009
Egg announces credit card change
Long-term customers have been encouraged to reapply for cashback. Egg has announced changes to its cashback credit card facilities for customers, to come into effect from November 1st.
A spokeswoman for the provider confirmed to the Guardian newspaper that those customers who previously earned a 0.1% cashback rate on their annual spending will now have the payments discontinued.
Those who wish to continue receiving cashback from the firm have now been encouraged to reapply for the Egg Money credit card, which offers a 1% reward rate.
Maximum yearly payments on this product are capped at £200, minus £12 in fees.
Talking to the newspaper, Egg representative Teresa La Thangue explained that only a very small number of cardholders would be affected by the change.
This is due to the fact that, of the 200,000 cardholders who could have earned the 0.1% rate, only those who built up at least £10 of cashback received the payments in the first place.
Ms La Thangue commented: “Most customers who had this facility didn’t earn enough to get cashback ? It was a facility that wasn’t being used.”
Egg advises existing cardholders who now apply for the Egg Money card that they have a “reasonable chance” of being accepted, although cases will be examined on an individual basis.
Other options include the American Express Platinum Cashback Credit Card, which offers customers a reward rate of 5% for the first three months of use.
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