Egg Policy Change ?

help-really-needed

jonnyb wrote: »

what credit limits do you have ?
no need to give exact figures, but if the limit is way more than you ever use, try asking them to reduce the limit, instead of closing the accounts.
you have nothing to lose other than the cost of a stamp, or phone call, or evne a secure message via their web-site.

Don't know if this was addressed to me but i have a 3k limit and typically use then pay off around £240 ish a month as i use my car for work and i'm a tank a week. OH i'm guessing has a similar limit as the accounts were oppened around the same time he does 2 fills a month plus a little more so maybe £150 a month put on then cleared.

Really if they had written to us to say they were reducing the credit limit fair enough we don't use it anyway but why should I contact them to request a lower limit in the hope they will then decide to keep my custom??

jules372

Hi,

I haven't received the letter yet, but went onto the website and after logging in, the message was there that i should have received a letter blah, blah, blah.

I must admit that I have a poor credit rating. I am almost always at my limit and only pay off the minimum amount each month, so I can honestly say that I am probably a bad credit risk and can understand why I got the dreaded boot!

I feel sorry though for the ones with perfect credit ratings who got the letter, it seems very unfair.

Julie

silvercar

DifferentFromTheNorm wrote: »

I'm not sure who told you about cashback being applied in the anniversary month as it's not.

For Egg Money it is paid in March. Egg Card is paid in September.

Egg Money is usually paid directly into the Egg Money account. But, for those whose accounts are closed they will keep the cash back but it will be paid directly into their bank account (as long as they accrued the minimum £5)

For Egg Card, I'm not sure. Presumably it will be the same rules (ie paid into their bank account). It's always been paid to the external bank account for the Egg Card so nothing is different there. However, the cash back is only 0.1% on that card (if application was done before Oct 2001 - after that date its no cash back).

For Egg Money the minimum cash back that has to have accrued is £5. For Egg Card it is £10.

To have earned £10 cash back on Egg Card they will have had to have spent £10,000 since September. I can't really see there being too many Egg Card customers that meet all those requirements that have had their cards closed.

My cashback is over £10!. But then I've not had my account closed...yet.

For those that are comparing who has been cancelled and who not:

age mid-40s, large spend each month cleared in full by DD, credit limit £12,000, green VISA card, no Money Manager.

ben.bayliss

jules372 wrote: »

Hi,

I haven't received the letter yet, but went onto the website and after logging in, the message was there that i should have received a letter blah, blah, blah.

I must admit that I have a poor credit rating. I am almost always at my limit and only pay off the minimum amount each month, so I can honestly say that I am probably a bad credit risk and can understand why I got the dreaded boot!

I feel sorry though for the ones with perfect credit ratings who got the letter, it seems very unfair.

Julie

Can you (or anyone else) confirm that you've received online messages in addition to the letter you received? Postal service is a bit rubbish round here so I've not got a letter, but equally haven't got any messages through their online banking.

(yes I know I could phone them to ask, but I'd rather lay low in case they take a look at my account and decide to give me the boot also!!)

jules372

ben.bayliss wrote: »

Can you (or anyone else) confirm that you've received online messages in addition to the letter you received? Postal service is a bit rubbish round here so I've not got a letter, but equally haven't got any messages through their online banking.

(yes I know I could phone them to ask, but I'd rather lay low in case they take a look at my account and decide to give me the boot also!!)

Hi,

I haven't received a letter yet. I logged onto check my account and the message was there, it then let me click to continue to my account.
Hope that helps

Julie

Psiloman

Letter received but NO online message.

Profile: Age mid 40's, Small spend per month (£300) paid in full by DD, Credit Limit £3.8K @ 6.9%, Only CC, No MM, Egg Visa

Oftenbroke

ben.bayliss wrote: »

Can you (or anyone else) confirm that you've received online messages in addition to the letter you received? Postal service is a bit rubbish round here so I've not got a letter, but equally haven't got any messages through their online banking.

(yes I know I could phone them to ask, but I'd rather lay low in case they take a look at my account and decide to give me the boot also!!)

I the online message was there when I logged on after receiving the letter.

For those who are counting, my credit profile is:

early 50's, £2k limit @ 21.9%, over the limit charges for 3 months in a row last year then cleared the balance to £0. Card unused since. Used Egg MM.;)

Dave_John_2

I had the letter last saturday, Been trying to close this account since November last year, Balance on the account £0.00, very suprised about the content on the letter as they have had a lot of money out of me, Paid every month by Direct debit, No late payments ever. the letter seems to sujest that i was some High risk sub prime person

Even in the past, when you try and contact them by E mail the answers you get seem to treat you as you are some kind of idiot,

Best thing i ever did was put the card through the shredder yesterday. I Thought the letter at first was thier way of being vindictive about me closing the account.

Seeing this thread in this forum has put my mind at rest.

I Subscribe to credit expert.com and have done an experian check and it has come out as Exellent

Do yourselves a favour and ditch this account, transfer the balance, or take out a loan, pay it back that way, a lot less interest

vwman_3

Getting a bit confused with all that's going on with egg.

Both the wife and I are with egg, she has had a card with them for the last 4 years and has never paid interest, she clears the bill every month without fail.

I have had an egg card for the last 14 months and always carry a balance albeit a small one of no more than £400-£500, at the moment it's got a 0% BT on it until Setember.

Neither of us has had any letters from egg other that my wife getting a letter a few weeks back upping her credit limit from £5k to £6k.........seems strange

withabix

There are two obvious reasons why Citi/Egg are closing your accounts down:

1) You are a good credit risk and pay your account off in full every month/most months. Egg make no money from you.

2) You have a low credit score and are considered a risk. You keep a balance on your account and Egg currently make money from you but think you may be a potential future defaulter.

Neither of the above types of person are any use to Egg/Citi at all, therefore they don't want you as a customer.