Egg Policy Change ?

Jo77

Hi

People on here have mentioned seeing a message when they log onto their accounts online confirming that their cards are being cancelled. I have two letters regarding Egg Visa & Egg Money but I cant find anything online...

Jo

Psiloman

Hi Good People,

Just a little update from me. I had my Egg Card cancelled, my profile: Age Mid 40s, Egg Visa, £3.8K Limit @ 6.9%, Paid full balance monthly by DD, Only CC, No Money Manager.

I do not need credit but I do need a credit card to use as a payment service, for internet shopping etc. Having had my Egg Card cancelled I was worried about applying for a new card, which is what I did on Monday - make one application

Just got back from business trip to London (where I had to use my Egg Card to check into hotel) but when I got home there was a new Credit Card waiting for me with £10K limit...why had I worried. I new I was a good 'risk'....even if Egg labelled me as risky.

Life after Egg is feeling so Good

madkitty

so is there anything we can do r.e the interest to get our own back?

madkitty

ok perhaps someone who is more knowledgeable can comment on this potential gem I may have found?

There is a reason for this. The Consumer Action Group Forum have been revealed that most lenders have failed to have the customer sign a "Consumer credit Agreement" and are thus breaking the law by charging for credit and demanding repayments. The lack of the CCA carrying certain precribed terms (not an application form) means that 99% of these debts are unenforceable in court.

If you ask your lender for a copy of your CCA, they are comitting a crimminal offence if they don't supply it in 30 days. Egg did everything over the net and sent the customer an application form which was signed and returned. Those applications are worthless as cca's as they don't contain the prescribed terms.

Egg customers with debts will be offered a new loan at a cheaper rate than the card which has been taken away from them.....and of course they will now be sure to include all the terms prescribed by the consumer credit act and the debts previously worthless had the debtor cottoned on to it, are now fully enforceable!

That is the reason.

oldtup

I've received my Experian credit report and, as expected, it doesn't show any problems.

Neither does it show my mortgage, Barclaycard, Sky credit card or details of bank accounts, some of which have an overdraft facility. It also doesn't record that I am director of a company.

Surely these things are recorded by these companies?

I'm sure that last time I got a report it had a lot more than this. Do the three credit ref companies keep different sets of info and do I need to get reports from all three?

Paul_Herring

oldtup wrote:

Do the three credit ref companies keep different sets of info

They're 'independant' as in they rarely talk to each other, and certainly don't compare notes.

and do I need to get reports from all three?

Yup - if you want the 'full picture' anyway. (I usually only get Experian and Equifax personally.)

Note that most financial institutions usually only use one of the three.

lisyloo

You can get call credit for free at
https://www.annualcreditreport.co.uk

I'm not aware of having any spam from them.
Garlik were also doing a free trial but I'm not sure if they offer that now.

Paul_Herring

lisyloo wrote:

I'm not aware of having any spam from them.

I am.

They denied it of course. (I used a unique email address with them, as I do with most companies/websites.)

jonnyb

oldtup wrote: »

I've received my Experian credit report and, as expected, it doesn't show any problems.

Neither does it show my mortgage, Barclaycard, Sky credit card or details of bank accounts, some of which have an overdraft facility. It also doesn't record that I am director of a company.

Surely these things are recorded by these companies?

I'm sure that last time I got a report it had a lot more than this. Do the three credit ref companies keep different sets of info and do I need to get reports from all three?

Your own report won't show that you are a director, but the companies who check your record would be told that.

Not all lenders supply all data to all CRA's, so some of your info might no be on Experian. My old mortgage never showed, but my new one does. I have a Barclaycard, and mine shows on Experian, as do various bank overdrafts. You might need to ask the individual lenders if they are sharing data with Experian, and if so, what address they have for you - sometimes they make mistakes and Experian cannot make changes.

Kochanski

Kochanski wrote: »

I have a pretty lousy credit rating at the minute. I currently owe over £400 on a £500 credit limit Egg Visa, paying £20 a month. I have missed payments in the past and have just received a new card to take me up to 2010.

I can't believe people with far better credit histories are getting treated like this when I would appear to be a far higher risk.

Just got my letter this morning :rolleyes: