Egg Policy Change ?

Repo

MABLE wrote: »

How many times do we read on this site about customers telling credit card companys where to SHOVE their credit card but when they do it to us we dont like it. I suppose it works both ways.

The real problem isn't what they they have done but what they have said about why. EGG have told the customers it's their fault for being a high risk AND fed the same lies to the press. The real reason however is that our usage pattern just doesn't make them enough money.

barak

Why are people with good credit records so upset about losing their Egg cards? I have one, and really couldn't care less. I haven't had a letter yet, but if they don't want my business, I shall simply take it elsewhere.

The 'credit crunch' may lead to this becoming the norm, and we could all end up being encouraged to pay for everything with a debit card. Those who always pay their credit card accounts in full will hardly notice the difference, and those who don't want to will either continue to pay high rates of interest or else work out how to live within their means.

MUDGUTS

500Triumph650 wrote: »

I haven't read this whole thread but if you are in the 'robbing Peter to pay Paul' situation, the removal of one card can bring the whole house down. If you lose one 'Peter' to rob, you may not be able to pay 'Paul'.

If other card companies follow suit they might find themselves in an avalanche of defaults. This could so easily backfire badly and hasten the coming recession.

My point exactly.

netlang

You will not get me to use a debit card after the number of times I had been cloned last year. My bank account would have been cleared on three occassions!

No credit card then it will be cash or cheque

LittleVoice

netlang wrote: »

You will not get me to use a debit card after the number of times I had been cloned last year. My bank account would have been cleared on three occassions!

No credit card then it will be cash or cheque

And how many retailers still accept cheques?

ravenk

500Triumph650 wrote: »

The only good thing about going bust was being able to stick it to the banks :cool: .

When you went Bust , did you get the £208K written off ?
If you did ...nice one ....
Whats your credit score look like now ? Citibanks write down.

:T

Michelden_2

It's not the fact that they are taking the cards away it's the fact that they are saying people are "bad risk" when clearly they are not. It's not only insulting it shows how little they appreciate responsible spending.

As I understand it the present Government are trying to encourage responsible spending and saving, surley the banks also want to encourage this?

DifferentFromTheNorm

br1zer wrote: »

Seems that I'm being hassled by some bankers. I'm outta here

If you're referring to me then don't feel hassled because that is certainly not my intention.

I am simply correcting what I feel is incorrect information. There's going to be people reading this forum that will take your post at face value without questioning it.

They may well believe that this will have a major impact on their credit file and cause problems in the future. In all likelyhood it's going to be the opposite.

rowantoad

PM program Radio 4 (influencial)

about 5 minutes in

http://www.bbc.co.uk/radio/aod/mainframe.shtml?http://www.bbc.co.uk/radio/aod/radio4_aod.shtml?radio4/pm

500Triumph650

netlang wrote: »

You will not get me to use a debit card after the number of times I had been cloned last year. My bank account would have been cleared on three occasions!

No credit card then it will be cash or cheque

My local Tesco has a big sign outside saying that they the won't be taking cheques anymore "to speed up the queues at the tills". Anyone here think that is the real reason?

I have been operating on a cash only basis for a while now and I seem to spend less because you are acutely aware of how quick your wallet empties.