Egg Policy Change ?

trisontana

LittleVoice wrote: »

Apparently, Angela Knight, chief executive of the British Bankers Association, said that Egg's action was "a sensible way of looking after a business". And went on to say "Whilst it is lovely to spend, it is the paying back that is always the difficulty. It might seem a bit hard to say to people 'You do need to stop spending' but it does actually make real sense so to do."


So do the banks want us all to stop spending and never use credit cards?

I wouldn't believe anything that woman says. As I said earlier on this thread she's been on TV countless times trying to defend very high bank charges.

LittleVoice

500Triumph650 wrote: »

The banks will not honour a bouncing cheque regardless of the fact that it was presented with a guarantee card if times are hard.

Rubbish:

If the cheque was presented with a guarantee card AND it met the conditions (like the retailer writing the card number on the back of the cheque, the card relating to the cheque, and being within the guarantee limit), the bank has to honour it, so it can't bounce.

Paul_Varjak

sds1pg wrote: »

Just had a letter from Egg today (followed by an uninformative phone conversation). Theyre ending my use of my card with them, after 10? years based on "credit profile of this account"...

The problem is my credit rating from Experian is excellent, Ive never missed a payment with them and I pay off the debt each month....so wheres the problem?

The only thing I can think of is that they tell me this decision follows Citibanks takeover of Egg.

Could it be that Citibank are simply wanting to rid themselves of customers that do not earn them interest on their accounts?

Id be interested in any thoughts or similar experiences.

P

Are you the person that was interviewed on BBC Ten O'clock news tonight?

It seems there are a lot of disgruntled egg customers (160,000) according to the news report!

Personally, I would treat them with the distain they deserve and would take my business elsewhere if I was in your situation.

No doubt the next MSE e-mail will have a few pertinent comments from Martin about the situation.

Anyone have any suggestions what an old EGG card could be used for?

500Triumph650

Psiloman wrote: »

However, I do object to be wrongly classified as a 'risky' customer. Eggs own code of ethics states that they will be open, honest and trustworthy in their dealings with their customers. Egg has breached this code of conduct.

I will happily and without regret use a different service provider. It appears some people on here are happy to have their banks lie to them and indeed seem willing to support a financial institution in behaving in this way...this really makes me sad.

Sad? It makes me mad.

I have hated banks since before I was old enough to have a proper account just through listening to my Dad and seeing how they behaved with him.

Of course I have had to use them, as we all do, but I have never gone to them 'cap in hand' and have always taken the stance that they are vendors who want my business and I am the customer who deserves proper respect.

Of course, my business failed and they got stuffed. They would have been right to have been more cautious, but they weren't. They saw me as highly profitable and at the end they had extended me nearly half a million in unsecured credit facilities :eek:

netlang

Paul_Varjak wrote: »

Anyone have any suggestions what an old EGG card could be used for?

It would make an eggsellent windscreen scraper

500Triumph650

LittleVoice wrote: »

Rubbish:

If the cheque was presented with a guarantee card AND it met the conditions (like the retailer writing the card number on the back of the cheque, the card relating to the cheque, and being within the guarantee limit), the bank has to honour it, so it can't bounce.

Well, I have heard different.

500Triumph650

500Triumph650 wrote: »

Well, I have heard different.

A lot of banks do 'try it on' with regards to the cheque guarantee scheme. Quite often banks will bounce cheques even though they are guaranteed; only paying the cheque when the payee theatens action of one sort or another!

After a very quick search found this on the Consumer Action Group site. I know one of my mates had a guaranteed cheque sent back. Seems as though he should have put up a better fight but none the less, it did happen.

dt22

I too have had my account closed down even though im 50p in credit . i never use my card and if they want to close the account they can go ahead. What i am not happy with is being labelled on national television as high risk s. Does anyone have any advice on whether or not we could claim compensation for slander from EGG

Lokolo

Wow I can't believe I have just read through all 16 pages.

Being young I haven't yet got a CC *phew* but Egg would have been one of the first people I would have gone to as I have had pleasant dealings with them but I get the feeling I won't be liked as I like to get rid of my debt asap....

However, I have noticed a few people rambling on about how its their choice etc. and to you people - can you not read? Its the way they've done it thats making people appalled.

Basically I think they need to sack their PR and get some new staff in because the way they have handled this is, well um, exceptionally poor (I could think of a better word ... )

chicken_legz

The account is not being closed as such..........