Egg Policy Change ?

Katiewhat

:T Hi

As you know 160,000 people in this country had their Egg Card terminated because they are a ‘bad risk’ - me too - I am always within the limit and pay the required amount on time.

Just out of curiosity I checked with creditexpert to see what my rating was and guess what its ‘excellent’ .

I have therefore decided to set up an ‘exclusive club ‘ being the first time in living history Bank's have taken this decision


Anyway as this happened to me I felt that I could talk quite confidently about the affect emotionally it had on me as an individual – I am very financially aware – not like some and felt that the concern it would have caused would be immense. When I received the letter I felt physically sick because I wondered what I had done wrong – which appears to be nothing.

I am the founder of a business called 100% People which is an on line resource for real people with real issues –our logo is because nobody’s perfect- we mainly focus on those of the population who are larger than average in size – however I believe this topic affects so many from different walks of life.

Therefore http://www.100percentpeople.com/eggcardclub.php has been set up – and is directed to a separate page within our website with links to the eggcardclub forum - this will be linking as from midnight tonight.

By the way only last week I had a letter from CITI Bank offering me a 0% credit card.

So if you are in the same boat come and join us

DifferentFromTheNorm

pinchez wrote: »

Just got a letter from egg this morning, They Addressed it to my partner who doesn't even have an account with Egg and i have never given her details to them. Also the Account number in the letter does not match my card. I'm guessing it was meant for me as i do have an egg card. I've had the Card for about 2 years and i've never missed a payment and currently owe £1000 on it and paid £200 pound off just 2 weeks ago. I usually max it out (£1250) and then pay it off in about 3 months.

As far as i know I've got a clean credit record (never missing a payment on anything) This as made me angry in the first instance because of their !!!! up and in the 2nd because their implying I'm a risk when I'm clearly not. :mad:

So a letter arrives in your partners' name, with an account number that doesn't match yours. It sounds like your partner does in fact have an Egg account and that you just didn't know about it.

Just because you haven't given her details to them doesn't mean that she hasn't.

I don't see why you're so angry when the letter is clearly not meant for you at all, it's for your partner!

Paul_Herring

Katiewhat wrote: »

I have therefore decided to set up an ‘exclusive club ‘ being the first time in living history Bank's have taken this decision

Rubbish. Barclays have been doing something similar for ages - everytime money is paid off on the card, the limit reduces to the new balance, preventing people from using the card.

Only they didn't manage to make such a PR mess as Citibank did.

DifferentFromTheNorm

Paul_Herring wrote: »

Rubbish. Barclays have been doing something similar for ages - everytime money is paid off on the card, the limit reduces to the new balance, preventing people from using the card.

Only they didn't manage to make such a PR mess as Citibank did.

Agreed. That post by Katiewhat is bordering on spam to be quite honest, trying to get people to sign up to another forum when there's a perfectly good one available here.

beaujolais-nouveau

My worry is that this PR disaster has not only undermined customer confidence but accidentally allowed us a glimpse of something worse - viz that Egg may be in trouble.

I haven't had a letter and I haven't yet tried to log on to view my accounts but I have worked out what I need to do to ensure that I don't lose a lot of money forever.

Egg used to be so cool ... sniff.

Nomad25

I wonder if Egg can be held accountable for the high stress/anxiety levels they're causing? I too have been trying unsuccessfully to access website this pm. I'm in the pay off in full by dd ea month category. No letter yet and no electronic message as of yesterday. However, I did use my card [Egg Money] as usual last night and felt the old ticker go faster as to if it would go through or not [unused to such excitement on the weekly shop!!!]

catgil

Nomad25 wrote: »

I wonder if Egg can be held accountable for the high stress/anxiety levels they're causing? I too have been trying unsuccessfully to access website this pm. I'm in the pay off in full by dd ea month category. No letter yet and no electronic message as of yesterday. However, I did use my card [Egg Money] as usual last night and felt the old ticker go faster as to if it would go through or not [unused to such excitement on the weekly shop!!!]

Ditto.
I've been trying to access my accounts for ages to see if they have been cancelled. I pay off in full on my Egg Money and my Egg green is at zero ready for the anniversery offer in March. I suppose they wont do that now either. I'm really worried.

glossyflower

Ok, I am one of the 161,000 customers who have received a letter. At first I thought it was just me, I was so worried, I had to check my Egg account thinking I had been defrauded. All fine. Checked my credit rating...classed as Good. I was angry but thought ok, it's not so bad I can just pay off the £3200 balance which is what I had intended to do.
However, the past few days I have been thinking about it, I have become more furious.
I have NEVER missed a payment, or even paid late. Since October 2006 I have paid more than the minimum payment...how am I a risky customer???

Citigroup took over Egg from Prudential in May 2007. They are a US based company with assets worth over $2 TRILLION.
There is a credit crunch at the moment, which they deny is the cause of this review. However the US have fears of a recession (which is happens will be followed by a world recession), so they need to clamp down on low profit customers.

Even if you have not received a letter, or not even an Egg customer, BE WARNED, we are all going to affected, other companies will follow suit amidst the recession fears.

These companies are controlling our lives, they have slowly wormed their way in, and now they are making it difficult for us to live without credit...THINK ABOUT IT!


Join my online group http://www.facebook.com/group.php?gid=8598574156 if you are affected by Egg's move or interested in what is happening.

There should be a formal enquiry...

Please sign this petition

http://www.thepetitionsite.com/1/investigation-into-egg-cancelling-good-customers-credit-card-accounts

Thank you for your time in reading this.

16cat1980

Katiewhat wrote: »

:T Hi

When I received the letter I felt physically sick because I wondered what I had done wrong – which appears to be nothing.

I too felt physically sick when I read this letter and left me wondering how I'd cope if other cards follwed this example (we are currently relying on credit cards to get us through a tight patch whilst we are trying to sell a second property ... although once we have the cash from this I will look forward to telling Egg that due to this decision about my Egg money card they can stick my Egg Visa card, my husbands Egg Money and Egg Visa and Egg loan where the sun doesn't shine!)

Anyway when I walked out of the station on my way to work this morning there was someone handing out flyers offering 'a free de-stress massage courtesy of Citi Bank' ... how ironic I thought as they had actually been the cause of so much stress for so many people!!!:huh:

MSE_Jenny

Hi all

A journalist from the Financial Times is writing an article on the Egg situation and is looking to interview people who've had their cards cancelled.

If you would be up for having a chat with her, please send me a private message with your telephone number, so I can pass it on.

Thanks very much!

Jen