Egg Policy Change ?

Jaymz

city_girl wrote: »

I sent a stinking message online and got the standard reply mentioned previously. I tried to send a further message but the system wont allow any more messages to be sent – meltdown!

So I called Egg today and had a blazing row with a Team Leader – mainly in fury at being given stock answers. I asked to speak to the 'Head of credit cards' who sent out the letters but was told he would not take any calls!! Surprise surprise!

The team leader told me that my card was cancelled as ‘I did not fit the criteria they had laid down for customers however no one at Egg would be able to tell me what that criteria is'!!! How ridiculous. He offered to lodge a formal complaint but told me I would not get any further if I did!

I will be seeking legal advice regarding this. They have every right to cancel my agreement but I refuse to be publicly branded a credit risk.

I don’t use MM by the way, never have.

What's the point in having a 'blazing row' with him? Ok, so your angry but it's not his fault. He didn't make the decision to cancel peoples accounts. For a minute think about what it must be like for those who are working in customer services for Egg right now.

trisontana

Jaymz wrote: »

What's the point in having a 'blazing row' with him? Ok, so your angry but it's not his fault. He didn't make the decision to cancel peoples accounts. For a minute think about what it must be like for those who are working in customer services for Egg right now.

As yet I have not seen or heard any senior person from Egg come on the radio or TV and explain their actions. They seem to be hiding behind a faceless "spokesperson" who keeps parroting the "declining credit score nonsense" This is why the call-centre staff are getting this aggro.

pb3

Jaymz wrote: »

As much as I shouldn't stick up for Egg, they are well within their rights to cancel your account as Obe has said.
Egg don't HAVE to give you credit if they don't want to. Just take your custom somewhere else (another card provider) or better still - don't use credit!

Just as well you use a after the last bit.

Post 9/11 it is extremely difficult to purchase an Airline ticket, rent a car or book a hotel room without a credit card . Also having been hit by fraudulent charges one one of my credit cards, I certainly avoid using my debit card unless absolutely necessary.

It is getting more and more difficult to take one's custom elsewhere as far as getting credit is concerned. The bar has definitely been raised and the cc companies are becoming more and more choosy over who they accept.

My credit report is good and I have a decent job but have been turned down on my last two cc applications. At the moment I'm hanging on to the cards I have for dear life!

As of today the dreaded Egg letter hasn't (yet) plunked through the letterbox. Fingers crossed.

At the moment I'm having a look at prepaid credit cards. They certainly look interesting but the charges are somewhat excessive.

Niksan

So, there's a lot of disgruntled people, but still no-one has sent anything to the OFT going on that BBC article ?

ado

Niksan wrote: »

So, there's a lot of disgruntled people, but still no-one has sent anything to the OFT going on that BBC article ?

I have, hence posting the OFT email address earlier in the thread and calling on all disgruntled Egg customers to do the same as well as to contact their MP.

[EMAIL="enquiries@oft.gov.uk"]enquiries@oft.gov.uk[/EMAIL]

TheGrant

"We can certainly understand the concerns, but even if people are up-to-date with repayments, they are people we decided we no longer wish to lend money to regardless of their status."

Well, that's not what my letter says. It is precisely because of my status.

I should take this personally? Will the Egg shills be on tonight? I'm off out.

ado

trisontana wrote: »

I have just got round to watching today's Working Lunch which featured the Egg saga. The company are still insisting that it's all to do with customer's "declining credit scores" and denied that they were only ditching unprofitable customers. They said the scoring was based on such things as late or missed payments , the number of other cards held and "other matters".

This still doesn't explain why so many people who always pay off the balance every month and seem to have a near perfect credit rating with such people as Experian are being ditched.

You can watch it here: http://www.bbc.co.uk/mediaselector/check/broadband/mediaplayer/players/bbc2?redirect=console.shtml&package=4588798&nbram=1&bbram=1&nbwm=1&bbwm=1&clip=wl_mon_040208_segment3

Officer_Dibble

city_girl wrote: »

I will be seeking legal advice regarding this. They have every right to cancel my agreement but I refuse to be publicly branded a credit risk.

To be fair, they haven't publicly branded anyone as a credit risk, your dealings with Egg are a private matter between you and them, unless you choose to publicise them.

[Deleted User]

I disagree they have publically said that they are closing peoples accounts because they are a credit risk!!!

That is deformation of character and we should start a class action.

racg01

Actually I m not from Pinner.

I am outraged though.

I had a balance of £1272 and £250 on card wiuth credit limits of £10,000 each. I regularly use the card and often use it abroad. So I cannot fathom how they can't be making money from me.

I ve assets over debt in excess of £5million, though obviously, that might involve more than an address search, (checking at Co house etc).

I ve never missed a payment etc etc....

I have citibank accounts which I ll now shut and have already paid the cards off in full and moved my saving account from them; but most importantly I need to get this off my chest.

Egg, (or rather their master Citibank), should learn a thing about customer relations. This sort of behaviour just makes me detest the banks, yet more. So they offer a service we all need, how about they therefore exercise caution in their behaviour ? The government should reward them by increasing their capital ratio requirement and fining them; of course it won't happen.

I m now off down to the pub, to bad mouth citibank, egg and I guess Gordon Brown for good measure.