Can a CC Company just close your account???

johnny_english

As the title says i just inquired about a balance transfer to my Egg card and they inform me they closed my account in August this year. I was not informed about this. Is this allowed? does anybody know where i stand. The balance of my account was £0.

mjm3346

Short answer is yes they can.

[Deleted User]

It can be closed, but I'm surprised you didn't get told about it. Did they say if they sent you a letter?

Although in the case of very dormant accounts, it's not unheard of to just close them down, particularly if there are no active cards on the account. Did you have a valid card?

As it's Egg, I expect it was a precursor to the Bcard migration, to reduce volumes needing correpsondence.

johnny_english

thanks for the speedy reply, so i have no rights, they basically can do what they like without informing me. These Credit Card companys are a law to themselves

Thanks again

*EDIT*
No i didnt get any letter or email i just found out when i looked into doing a balance transfer yesterday. Its odd as i can still log on online with no problem. I have asked them to re open my account to which they point blank refused to do and with no explanation.

poppasmurf_bewdley

They're not screwing money out of you so they don't want to know you. It's as simple as that.

lisyloo

they basically can do what they like without informing me

They should inform you.
It is possible that your letter was lost in the post, so in that case it's unfair to blame Egg.
In general people are informed although I guess a tiny minority of letters might go missing in the post.
We haven't seen a general problem of people not being informed so your case appears exceptional.

Basically you do not have entitlement or rights to credit from any company, so essentially yes they can do what they like as long as they don't break any laws (like illegal discrimination).
Private companies can choose not to do business with you.

Its odd as i can still log on online with no problem.

Access is left on old accounts for your benefit.
So say you needed a statement because an electrical item broke and you needed proof of purchase.
This is normal (for Egg) and not odd.

johnny_english

I think if th boot was on the other foot and i owed them £10000 i very much doubt they would "lose a letter in the post"
Thank you Poppasmurf for talking the truth

meer53

Don't think you can blame Egg for losing a letter in the post ! They post it, Royal Mail lose it.

lisyloo

i very much doubt they would "lose a letter in the post"

I agree, they would make more effort than just sending one unrecorded letter if you owed them money.
It still doesn't mean it's their fault if it get lost. They don't have a habit of "losing letters" from what I've seen on here (plenty of people being notified). Some companies do have a habit of losing letters (car insurance renewals) but I'm not aware of Egg having any such reputation on these boards.

They're not screwing money out of you so they don't want to know you. It's as simple as that.

No disagreement here. They are a capitalist company and ultimately their aim is to make money for shareholders.
There is nothing illegal about closing accounts that aren't commercially viable for them (as long as they aren't discriminating on illegal grounds like skin colour).

johnny_english

What do you mean i cant blame Egg card, yes i can, the fact of the matter is they never sent me a letter (losing letters in the post is nonsence) just like they never sent me an email oh hang on maybe my email got lost in cyberspace?

Wise up please

And thank you for your replys

CLAPTON

when did you last use the egg card?


personally several of my cards have been closed without any contact at all but that has been in the context of the card running out and not being renewed