Readalot v Egg

[Readalot]

I have Egg Card, vintage Oct2005 and Egg Money vintage Feb2008 accounts.

On their website they have T&S and Credit Agreement available for both accounts. Both accounts were opened online.

As far as i can tell for both accounts CCA is enforceable. Of course these online agreements must be very convenient thing for Egg. They can put there whatever they want really. I personally do not remember if it was the same in 2005. These agreements look like they were drafted wery well with all the knowledge of up-to-date CAG approach :-)

So far I think that a challenge of Egg CCA is a non-starter, not worth even £1 to request 78/CCA. Please tell me I am wrong.

These two agreements look so much similar, aparently not much has changed in Egg CCA's between Cot05 and Feb08.

I wonder if there is any way to see what kind of CCA they have actually diplayed on website during signup process in 2005.

Here is the online CCA for Egg Money
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CREDIT CARD AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974

This is a credit card agreement between Egg Banking plc of Citigroup Centre, Canada Square, London E14 5LB and you.


full name
postcode XXXXXXXX
e-mail address XXXXXXXXXXXXX
KEY FINANCIAL INFORMATION

1. CREDIT LIMIT

We will set and tell you the Credit Limit from time to time. We will carry out appropriate checks before increasing your Credit Limit and we will tell you if we change your Credit Limit. You may tell us not to raise your Credit Limit, and may also tell us to lower your Credit Limit at any time.

2. REPAYMENTS

Each month you must pay by direct debit at least the minimum payment stated in your statement by the Payment Date. The minimum payment will be:

* the full Revolving Balance if it is less than £5, but otherwise the greater of 2% of the Revolving Balance and £5, or (if it is more) the total of (i) interest and (ii) the Card Repayment Protection premium, both as shown in your statement;

Plus for each Transferred Balance on which interest is charged at a promotional rate, and for each Transferred Balance made during an introductory promotional rate period for Purchases (but only for the duration of that period);

* the full amount of the Transferred Balance if it is less than £5, but otherwise the greater of 2% of the Transferred Balance and £5.

(See Condition 10 of the Egg Money Conditions for further details.)

We will collect the amount you tell us you want to repay so that it is paid into the Account by the Payment Date.

3. APR

The APR for your Agreement is 16.9% (variable).

OTHER FINANCIAL INFORMATION

4. INTEREST

4.1 We will charge interest at a variable annual rate of 16.9%.

4.2 If you fail to pay the minimum payment required under Condition 2 during any introductory promotion period, we may charge interest on Purchases at a variable annual rate of 16.9% instead of the rate applicable for that introductory promotion. We may also vary the interest rates or charges in accordance with Condition 13.5 or 19 of these Conditions. The APR does not take these variations into account.

4.3 When you owe us any amounts on your Account, we will charge interest on all amounts making up the Balance on a daily basis at the relevant rate set out in Condition 4.1 above from the date each Transaction and Charge is made. Interest will be charged until the Balance has been repaid in full. We will not, however, charge interest on Purchases listed in your last statement, if you pay the Statement Total on or before the Payment Date. We may charge interest on interest if you do not pay your minimum payment.

4.4 We will charge interest on any late payments both before and after any court judgment.

4.5 If any interest is payable, there is a minimum interest charge of 50p. This means that if the interest amount is calculated to be less than 50p, the amount of interest shown as payable in your monthly statement will be 50p.

5. HOW YOUR REPAYMENTS ARE USED

5.1 If you pay up to the full minimum payment, we will apply the amount you do pay to reduce what you owe us in the following order:

* interest on any Transferred Balances and the Revolving Balance;

* any Card Repayment Protection premium (if applicable); and

* the remainder of the minimum payment will be allocated first to Charges made under Condition 7 and then divided between the balances stated in Condition 2 and applied to those balances accordingly.

The amount apportioned to the Revolving Balance will be divided equally between the categories within that balance.

5.2 Other than during your introductory promotion period when the Transferred Balances in the first bullet point will include all Transferred Balances, if you pay more than the minimum payment we will apply any amount over the minimum payment in the following order:

* Transferred Balances on which interest is charged at a promotional rate (in the order they were put on the Account); and

* the Revolving Balance in the following order:

(i) Charges;

(ii) Cash Advances included in your current statement;

(iii) Transferred Balances put on your Account that are not charged at promotional rates (including any Transferred Balances on which any initial promotional rate is no longer charged) and Purchases included in your current statement (including Purchases at a promotional rate);

(iv) Cash Advances put on your Account after your latest statement date; and

(v) Purchases put on your Account after your latest statement date.

5.3 If we change this order for any Special Promotion we will tell you in the details of the Special Promotion.

6. TOTAL CHARGE FOR CREDIT

If you use your Card to make a Purchase of £1500 and then repay that Purchase in 12 monthly repayments you would pay interest of £130.37.

KEY INFORMATION

7. CHARGES

7.1 If you break the terms of this Agreement we may charge you the following, where relevant, to cover the additional cost caused to us:

* £16 each month you go over the Credit Limit, even if we authorised the Transaction which resulted in you exceeding the Credit Limit;
* £16 if you do not keep up the payments on the Account;
* £16 for any payment returned or recalled for any reason; and
* any costs and expenses reasonably incurred by us as a result of your breach of this Agreement.

7.2 We will charge:

* £2 for any payment made to the Account other than by Direct Debit, debit card, BACS, CHAPS or transfer from an Egg Savings Account;
* 2.65% commission on all Transactions which have to be converted into sterling (see Condition 9.2 of the Egg Money Conditions);
* a handling fee of 2.5% of the amount of each gambling transaction (minimum fee £2.00);
* £2 for each paper statement; and
* if you ask us for any non-standard service, an amount which we will tell you before we provide the service.



MISSING PAYMENTS

Missing payments could have severe consequences and make obtaining credit more difficult.

IMPORTANT - READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS

The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, we cannot enforce the agreement without getting a court order.

The Act also gives you a number of rights:

1) You can settle this agreement at any time by giving notice in writing and paying off the amounts you owe under the agreement.

2) If you received unsatisfactory goods or services paid for under this agreement, apart from any bought with a cash loan, you may have a right to sue the supplier, us or both.

3) If the contract is not fulfilled, perhaps because the supplier has gone out of business, you may still be able to sue us.

If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or your nearest Citizens' Advice Bureau.

THEFT, LOSS OR MISUSE OF EGG MONEY CARD

If your Egg Money Card is lost, stolen or misused by someone without your permission, you may have to pay up to £0 of any loss to us. If it is misused with your permission you will probably be liable for ALL losses. You will not be liable to us for losses which take place after you have told us about the theft, etc, as long as you confirm this in writing within seven days.




This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by its terms.
signature of customer
please tick this box
(this is instead of providing your signature)
date of signature XX February 2008

Signed on behalf of Egg Banking plc.
Signature of lender
XXXXXX, Egg Money product manager Date XX February 2008
This Agreement uses certain defined terms. For these and the other terms and conditions which form part of your Egg Money Agreement please refer to the Egg Money Conditions.

By submitting this Agreement to us, you confirm that you want us to issue you with an Egg Money Card and that the details you have given us are true and complete and that you have read and accept the Egg Money Conditions, especially Condition 23 (Use and disclosure of Personal Information). This sets out how we will use the information we obtain about you including information about the type of payments you make with your Card. We will not use this information for any purpose other than those set out in Condition 23 but if you do not want us to have any information about a payment you should consider an alternative to using your Card. This Agreement will only be binding on us when we have completed and are satisfied with our final checks and other searches.

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Here are the CCA for Egg Card
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CREDIT CARD AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974

This is a credit card agreement between Egg Banking plc of Citigroup Centre, Canada Square, London E14 5LB and you. In Condition 8, we set out the meanings we have given to some terms in this Agreement.


full name Readalot
postcode XXXX
e-mail address XXXXXX
KEY FINANCIAL INFORMATION

1. CREDIT LIMIT

We will set and tell you the Credit Limit from time to time. We will carry out appropriate checks before increasing your Credit Limit and we will tell you if we change your Credit Limit. You may tell us not to raise your Credit Limit, and may also tell us to lower your Credit Limit at any time.

2.REPAYMENTS

Each month you must pay by Direct Debit at least the minimum payment stated in your statement by the Payment Date. The minimum payment will be:

* the full Revolving Balance if it is less than £5, but otherwise the greater of 2% of the Revolving Balance and £5, or (if it is more) the total of (i) interest and (ii) the Card Repayment Protection premium, both as shown in your statement

Plus for each Transferred Balance;

* the full amount of the Transferred Balance if it is less than £5, but otherwise the greater of 2% of the Transferred Balance and £5.

(See Condition 10 of the Egg Card Conditions for further details)

We will collect the amount you tell us you want to repay so that it is paid into the Account by the Payment Date.

3. APR

The APR for your Agreement is 15.9% (variable).

OTHER FINANCIAL INFORMATION

4. INTEREST

4.1 We will charge interest:

* on Purchases and Transferred Balances put on the Account until 1 April 2006 at a monthly rate of 0% fixed until 1 April 2006, and thereafter at a variable annual rate of 15.9%;

* on Cash Advances at a variable annual rate of 20.9%; and

* otherwise, at a variable annual rate of 15.9%.

4.2 If you fail to pay the minimum payment required under Condition 2 during the introductory promotion period, we may charge interest on Purchases and Transferred Balances at a variable annual rate of 15.9% instead of the rate applicable for that introductory promotion. We may also vary the interest rates or Charges in accordance with Condition 11.6 or 17 of the Egg Card Conditions. The APR does take these variations into account.

4.3 We will charge interest on all amounts making up the Balance on a daily basis at the relevant rate set out in Condition 4.1 above from the date each Transaction and Charge is made. Interest will be charged until the Balance has been repaid in full. We will not, however, charge interest on Purchases listed in your last statement, if you pay the Statement Total on or before the Payment Date. We may charge interest on interest if you do not pay your minimum payment.

4.4 We will charge interest on any late payments both before and after any court judgment.

5. HOW YOUR REPAYMENTS USED

5.1 If you pay up to the full minimum payment, we will apply the amount you do pay to reduce what you owe us in the following order:

* interest on any Transferred Balances and the Revolving Balance; and

* the remainder of the minimum payment will be divided between the balances stated in Condition 2 and applied to those balances accordingly.

The amount apportioned to the Revolving Balance will be divided equally between the categories within that balance.

5.2 If you pay more than the minimum payment, we will apply any amount over the minimum payment in the following order:

* Transferred Balances on which interest is charged at a promotional rate (in the order they were put on the Account); and

* the Revolving Balance in the following order:

(i) Card repayment protection premium (if applicable) and Charges;

(ii)Cash Advances included in your current statement;

(iii) Transferred Balances put on your Account that are not charged at promotional rates (including any Transferred Balances on which any initial promotional rate is no longer charged) and Purchases included in your current statement (including Purchases at a promotional rate);

(iv) Cash Advances put on your Account after your latest statement date; and

(v) Purchases put on your Account after your latest statement date.

5.3 If we change this order for any Special Promotion we will tell you in the details of the Special Promotion.

6. TOTAL CHARGE FOR CREDIT

If you use your Card to make a Purchase of £1500 and then repay that Purchase in 12 equal monthly repayments you would pay interest of £123.65 based on the annual interest rate which will apply for Purchases after the introductory promotion period for Purchases.

KEY INFORMATION

7. CHARGES

7.1 If you break the terms of this Agreement we may charge you the following, where relevant, to cover the additional cost caused to us:

* £20 each month you go over the Credit Limit, even if we authorised the Transaction which resulted in you exceeding the Credit Limit;

* £20 if you do not keep up the payments on the Account;

* £20 for any payment returned or recalled for any reason;

* any costs and expenses reasonably incurred by us as a result of your breach of this Agreement.

7.2 We will charge:

* £2 for any payment made other than by BACS, Direct Debit, debit card or transfer from an Egg Savings Account;

* a handling fee of 2% of the amount of each Cash Advance (minimum fee £2.00). If you are an Existing Egg Customer, we will not charge a handling fee;

* a handling fee of 2% (maximum fee £50.00) on the amount of each Transferred Balance made during an introductory offer period or made under a Special Promotion;

* 2.65% commission on all Transactions which have to be converted into sterling (see Condition 9.2 of the Egg Card Conditions);

* £2 for each paper statement; and

* if you ask us for any non-standard service, an amount which we will tell you before we provide the service.

MISSING PAYMENTS

Missing payments could have severe consequences and make obtaining credit more difficult.

IMPORTANT - READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS

The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, we cannot enforce the agreement without getting a court order.

The Act also gives you a number of rights:

1) You can settle this agreement at any time by giving time notice in writing and paying off the amounts you owe under the agreement.

2) If you received unsatisfactory goods or services paid for under this agreement, apart from any bought with a cash loan, you may have a right to sue the supplier, us or both.

3) If the contract is not fulfilled, perhaps because the supplier has gone out of business, you may still be able to sue us.

If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or your nearest Citizens' Advice Bureau.

THEFT, LOSS OR MISUSE OF EGG CARD

If your Egg Card is lost, stolen or misused by someone without your permission, you may have to pay up to £0 of any loss to us. If it is misused with your permission you will probably be liable for ALL losses. You will not be liable to us for losses which take place after you have told us about the theft, etc, as long as you confirm this in writing within seven days.


This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by its terms.
Signature of customer
please tick this box
(this is instead of providing your signature)
date of signature XX October 2005

Signed on behalf of Egg Banking plc.
Signature of lender
The same Person as in Feb2008 CCA , credit card product manager Date XX October 2005
This Agreement uses certain defined terms. For these and the other terms and conditions which form part of your Egg Card Agreement please refer to the Egg Card Conditions.

By submitting this Agreement to us, you confirm that you want us to issue you with an Egg Card and that the details you have given us are true and complete and that you have read and accept the Egg Card Conditions, especially Condition 22 (Use and disclosure of Personal Information). These set out how we will use the information we obtain about you including information about the type of payments you make with your Card. We will not use this information for any purpose other than those set out in Condition 22 but if you do not want us to have any information about a payment you should consider an alternative to using your Card. This Agreement will only be binding on us when we have completed and are satisfied with our final checks and other searches.

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[Steward]

You can use Google to search the web using these links below:-

[steven4064]

I don't think there is any way of seeing the online from they used in 2005 unless someone on here has kept a copy. AFAICT they seem to get the online ones right (can't say the same for their paper ones though). Certainly the terms you have inclued above are spot on. For reference I have marked the prescribed terms in red