Egg Policy Change ?

LittleVoice

Perhaps Visa fees to Egg are higher than Mastercard's?

Halloway

As an external observer (I don't have any Egg accounts) the evidence thus far is that Egg are ditching customers from which is makes little profit, namely those who pay off their balance every months and rarely, if ever, make a late payment.

If that is indeed the case then I'd say that that is the company's prerogative. However, insulting your customers by cancelling their credit cards in such a way is not a particularly sensible or mature thing to do. What is most invidious is Egg's broadbrush labelling of these customers as 'risky', when patently very many of them are not in the least bit risky.

There is also a broader issue here. Amongst the many things for which Joe Public is belaboured is the irresponsible use of credit, in other words, taking on debt which we cannot afford. Yet here we have an ostensible case of sensible, responsible customers being penalised for precisely the opposite - namely being sensible, responsible users of credit.

If, as someone has suggested, Citigroup is financially on its uppers, then if this is the type of customer service it practices then it is no wonder. Egg used to be well-respected brand and it looks as though it is now in terminal decline.

ffacoffipawb

It's obvious the reason egg are doing this is because the parent company, Citibank, are in deep poo.

marvin

Psiloman wrote: »

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!

I was however turned down for a mortgage by Egg (after much discussion) about a 14 months ago because they thought my credit rating not good.

So I supose, as my credit rating has worsened since then, that I should expect a letter from them cancelling my card.

ParkD

I can only add that not only as an Egg Card User but, currently, an Egg Saver all with an excellent Credit History, a Home Owner with no debt whatsoever that has held an Egg Card since its inception who has paid off the balance in full since I took out the card, I can only assume, like so many others, I was not profitable enough for them.

It angers me to hear the Brittish Banking Association congratulating Egg on their actions when they obviously know nothing about the truth of the matter.

I have complained and await a reply with interest. Then I will tell them where to stick it and move my savings.

Craftyscholar

Not my fight but I have just heard the Radio 4 news bulletin - 11am - repeat the story that customers are having their cards canceled because they are considered 'risky'.

Psiloman

Radio 4's Money Box programme have just emailed me asking for a telephone number because they want to talk about the Egg situation....watch this space!

Halloway

Psiloman wrote: »

Radio 4's Money Box programme have just emailed me asking for a telephone number because they want to talk about the Egg situation....watch this space!

I'll be listening. I hope to hear you.

Psiloman

Sent so many emails...I should read who the replies are from more carefully...It's from Radio 4's PM programme rather than Money Box - doh

Triker

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.

ladypinkof66i ''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.''

I'm going to laugh when you also get your letter from Egg.:rotfl: