Egg Policy Change ?

marvin

G-G wrote: »

So what happens if you have a balance on your Credit Card, are you supposed to pay it all off in one go?

From what they said on working lunch yesterday if there is a balance outstanding this can be paid off in the normal way (does not need to be cleared immediately), after all they don't want to lose any interest do they.

I've not had a letter, yet, and my credit rating is awful at the moment but I did have a balance (till this month) on a fixed 6.9% so that may have swayed their view.

Halloway

MABLE wrote: »

I have an Egg credit card and an Egg money they have not said they are taking my credit facilities away. Its all very well moaning but everyone affected must have either missed a payment or exceed their limit at sometime.

You have some proof of this do you? No, I didn't think so.

$$$_12

Anyone thought about making a Data Protection request asking them to give you all of the information they hold on you?

ladypinkof66

I too had this letter this morning and was angry and upset. I am so glad that I have read the paper today and also seen this thread as i just thought it was me.

I have a Egg Visa Card - credit limit of £3500 and balance now £1200 I did only pay the mininum up until a few months ago but am now paying £200 off each month i was up to the limit but have managed to get it down.
i have never missed a payment and my credit was affected about 5-6 years ago but i have no debt at the moment apart from this card.

My usual bank first direct have even just upped my credit limit on their card from £1700 to £3400 so i cant have any adverse credit problems.

I have not used my egg card for about a year but they do regularly earn from me anything up to £30.00 per month in interest i now feel that they can shove their card up their a***es and i will pay the balance off in order that they may not make any more interest from me.

davidlizard

Reading this thread has made my blood boil at the total contempt at which Egg are treating their customers, and blaming supposedly high risk customers when in fact it appears to be nothing than pure greed on their behalf.

And you can bet that all other credit card companies are watching with interest and will act accordingly.

Although I have not had a letter (yet - but given anything that looks like it tends to be money related tends to get pilfered by the Royal Mail - but thats another story), I am going to switch my loyalties to a company that threat their established customers less like complete scum. Maybe if enough people vote with their feet, then this could dissuade other companies from following suit (fat chance when they are driven by pure greed).

Does Martin Lewis have a view on this?

ladypinkof66

i agree with halloway and MABLE get your facts right I have never should i say NEVER missed a payment and NEVER gone over my credit limit. Posters like you should not state things like that til they get proof.

slowe

MABLE wrote: »

I have an Egg credit card and an Egg money they have not said they are taking my credit facilities away. Its all very well moaning but everyone affected must have either missed a payment or exceed their limit at sometime. It may be they have done this with another company and EGG have noted this by the customers credit report. I find on here some posters do not always post the full story.

Also I have the Citi gold card with £8,100 limit and not used for the last two years but again they have not withdrawn the use of the card.

I'm not quite sure how I would of found it possible to miss a payment as you have to pay by direct debit - they are guaranteed to get their money that way. I know for a fact that I have never missed a payment and I never owed more than £2,000 on my £4,100 limit.

Yes I am moaning as I've been with Egg for years have always considered them a good company. I got my card several years ago when I was in employment I now do not work but still manage to pay my card off but will find it very difficult now to get another credit card to have on stand by because of my employment situation. I don't think I am high risk as I am unemployed but i'm sure many credit card companies would.

slowe

davidlizard wrote: »

Reading this thread has made my blood boil at the total contempt at which Egg are treating their customers, and blaming supposedly high risk customers when in fact it appears to be nothing than pure greed on their behalf.

And you can bet that all other credit card companies are watching with interest and will act accordingly.

Although I have not had a letter (yet - but given anything that looks like it tends to be money related tends to get pilfered by the Royal Mail - but thats another story), I am going to switch my loyalties to a company that threat their established customers less like complete scum. Maybe if enough people vote with their feet, then this could dissuade other companies from following suit (fat chance when they are driven by pure greed).

Does Martin Lewis have a view on this?

As mentioned in my previous post I think I will find it hard to get another Credit Card now because of my situation but I really don't want to pay Egg any interest on my outstanding debt with them and I'm sure other customers they've insulted won't either.

wilf55

can they not be reported to someone OFT FSO write to your MP

Psiloman

MABLE: You are so wrong. I have had an Egg Card since it's launch (and no other CC). It is setup with a DD to pay the full amount every month and has been since I got it. I have never exceeded my credit limit and never missed a payment. My only other debt (a small mortgage will be paid off in under 4 years). Since joining Egg my salary has tripled and my savings are doing quite nicely thank you. I have an impecible payment and credit history.

What is it with some people that they simply refuse to believe that banks can be wrong and customers right?

Interestingly, my mortgage is with Egg and they haven't asked 'risky' me to repay that but then again they make nice interest on that!