Egg Policy Change ?

ApplePie123_3

ravenk wrote: »

Will egg cull some of the Guinea Pigs in the TV add. The ones they dont want anymore :-)

Depends if they've got an Egg card!

MoneyMadness_2

You have some very fair points Dag.

1. We shouldn't be upset - (but I still don't like being lied to or insulted)

2. This isn't a representative sample, and there probably are some risky customers that have been closed, but equally there have some posts where they said their accounts were often maxed out and late payment but had not been sent the letter.

Either way, I think they owe an apology for trying to pin it on high risk customers when in fact there is a large segment of non-interest payers are being targeted. I think it has caused a significant increase in worry and has driven people to check their files for fraud! Who needs the stress?

UK007BullDog

The scary is that the application took less than 5 min with the halifax.

Good thing I looked on this board first before applying as I thought I go for an egg as it does seem to have a number of good features but they obviously want only one type of customer and I would not fit the bill and be declined right away as a 0% rate tart with excellent credit rating.

oldtup

I'm the guy who was interviewed on PM. If you heard it then you'll have heard Nigel Griffiths asking for the FSA to look at this. You can email nigel here: [EMAIL="tellnigel@hotmail.com"]tellnigel@hotmail.com[/EMAIL] Give him more ammunition.

RE Egg's latest statement: Spot the glaring error.

"93% of cardholders have not been affected" Oh yea?

If they don't understand how it all works, ask Gerald Ratner!

93% of cardholders are wondering if their letter is in the post! They are all working out how to keep clear of Egg in future. They all now realise that Egg has been sold to Citibank, which they probably did not before.

UK007BullDog

The other scary thing is that it will get harder and harder to find 0% deals in the future. The banks want our money and if they cannot get it through fees they will get it through interest rates.

Note to self: Start to make serious inroads to get rid of all CC debt in the next 12 to 18 months.

UK007BullDog

oldtup wrote: »

I'm the guy who was interviewed on PM. If you heard it then you'll have heard Nigel Griffiths asking for the FSA to look at this. You can email nigel here: [EMAIL="tellnigel@hotmail.com"]tellnigel@hotmail.com[/EMAIL] Give him more ammunition.

RE Egg's latest statement: Spot the glaring error.

"93% of cardholders have not been affected" Oh yea?

If they don't understand how it all works, ask Gerald Ratner!

93% of cardholders are wondering if their letter is in the post! They are all working out how to keep clear of Egg in future. They all now realise that Egg has been sold to Citibank, which they probably did not before.

Sorry OldTup, but you are very new here and I suggest, as we do not know you as yet that no one sends an email to that Hotmail address.

If anyone wants to complain send a letter to Egg with a copy to the FSA or the FSO, but not to a hotmail address.

Psiloman

oldtup many thanks for doing a sterling job on PM!!

Merlot

UK007BullDog wrote: »

The other scary thing is that it will get harder and harder to find 0% deals in the future. The banks want our money and if they cannot get it through fees they will get it through interest rates.

Note to self: Start to make serious inroads to get rid of all CC debt in the next 12 to 18 months.

Good advice to anyone with credit card debt, try and get rid, banks want our money and very few deals will be around in a few months, this has been on the cards, so to speak for months, what's next? An end to free banking for all is what I see, monthly charges will be the norm.

Merlot.x.

dag_2

The scary is that the application took less than 5 min with the halifax.

I'm pleased you mentioned that. I've never had a limit cut with Egg before, but I have had a limit cut with Halifax. I used to have two Halifax cards with a combined limit of £20,000, which they cut back to £2,500. Disorganised me realised that they were trying to cancel one card and reissue me with another for some reason, but dozey me didn't notice that my limit was cut until I maxed it and had purchases rejected! Oops! This was about a year and a half ago. Fortunately my Egg card came to the rescue at that point, although I then noticed that one of my other cards had a lower purchase interest rate, so I got a PIN reminder and started using that one instead.

Does this make me like a typical Egg customer who has received the letter, or like a typical customer who hasnt? Like I say, no letter yet, but let's give it another few days. I must admit I am worried about it.

My limits with Halifax have been upped again since then.

oldtup

Ref not using the link: Fair enough, but if you search for Nigel Griffiths MP then you can contact him through his site.

By the way, I'm not involved in trying to promote a particular MP or party (in fact my involvement is with another one entirely) but as Nigel is running with this it makes sense to let him have as much info as possible