If a planned takeover by Barclaycard goes forward, many Egg credit card clients are being left in the dark about the terms of their account and whether they will change. A portfolio of over one million accounts with credit worth £2.3bn was announced what Barclaycard was purchasing from Egg, and a competition clearance is expected in the next few months, if granted.
Special deal from many retailers are offered on the green Egg cards including cash back of 4% on iPads and iPods, with free engraving and shipping via Apple, RAC offers up to £70 cash back on home insurance and Debenhams offers 25% discount on purchases. Up to a yearly limit of £200, cash backs of 1% on spending between £500 and £20,000 per year are offered by black Egg Money cards.
In 2008 Barclaycard purchased 1.7m UK credit card accounts from US based Discover card and customers interested in seeing deals continue on their Egg cards should take not, Barclaycard created new accounts to ensure than all transferred cardholders received the same benefits as prior.
One of the best UK reward schemes was included in the cards that Barclaycard purchased said Amer Sajed, managing director of UK Cards, and Barclaycard wanted to take advantage of his heritage thus they created a myriad of new products to meet the existing expectations of their new customers.
The cashback scheme reduced to 0.3% from 1% shortly after the takeover and has since been changed to include vouchers from shops such as Marks & Spencer, Argos and Halfords. A £10 voucher is achieved by accumulating 3,500 points by earning one point for every £1 spent using the card. A straightforward cashback scheme is offered to some customers, earning them 0.25% on the first £200 using the cards and up to 1% on amounts over £1,500.