Egg Policy Change ?

mumofjusttwo

they do state that they will not register adverse information but will supply payment records as per their normal practices.

TSx

I'm going to be honest and say that my cards hovering at its limit (£1,110) which they increased it to in September when I missed a payment. Its at £1,063 at the moment which is its lowest in a while. I've paid them more fees than I care to remember but have recently got it down so its just interest each month, not charges. Always made the minimum payment but got caught a few times by the gap between DD payment and interest.

I haven't received a letter yet (posts been today as well) - and everyone on this thread seem to be low users, or pay the balance off in full. Has anyone who is genuinely a worse credit risk, and who pays interest and/or charges had one of these letters?

I'm not too fussed at the end of the day, It'd actually make it easier to pay off since I could just leave the DD going, but it does seem they're trying to spin this completely falsely.

lostbuckaroos

Psiloman wrote: »

Reply from BBC:

Many thanks for your e-mail, much appreciated, I have asked one of our
reporters to investigate.

Regards

Tim Weber
Business Editor
BBC News interactive
[URL="wlmailhtml:{C2A35B34-5658-4C61-8359-51D8F4C5E7CA}mid://00000004/!x-usc:http://www.bbc.co.uk/business"]www.bbc.co.uk/business[/URL]

Obviously not very well! Anyone just heard the Today Programme talking about you guys? They had some expert on spouting about how they've binned those who don't pay & go over the limit etc etc, which clearly isn't the case. Great journalism guys. And thanks for getting me so wound up that I had to get up this early on a bleeding Saturday!

Psiloman

TSx...yes the false representation continues in the media this moring with Radio 4's Today programme repeating what the y have been spoon-fed by Egg. I have emailed both the Today programme and Radio 4's Money Box to alert them to the situation.
I have just heard the Today programme, whilst reviewing the Mirror's story on Egg (once again Egg biased) suggesting that there will be more analysis of this issue over the weekend. Lets hope this includes them unpicking some of that spin!

lostbuckaroos

I noticed that the story they have running on the BBC news site has an invitation for comments at the bottom. Perhaps everyone from here who have had their card taken away should give the beeb a piece of their mind for not reporting both sides of the story there.

Psiloman

BBC Website News Story - updated
The BBC Web page has now been updated with a feedback form asking affected Egg customers to reply:
http://news.bbc.co.uk/1/hi/business/7222336.stm

Looks like they are looking into it!!!

Please feedback to them!

The story has also been updated to include:
"But the description has angered some customers who told the BBC that they had received a letter informing them of the withdrawal, despite having an excellent credit history.
They claimed that making repayments strictly every month meant that Egg was not making a profit from them in interest."

jmrance1

I am very, very confused and angry with EGG.

I have two cards with Egg. An Egg Money Card and a normal Egg Credit Card. I am almost to my limit on both but always pay the minimum payment or a bit more every month. They are earning money out of me on both of the cards. I got a letter this morning telling me my Egg Money card was being cancelled. This card has a much smaller balance on it than the other card. I do have a lot of unsecured debt at the moment but I have never missed any payments on anything.

What are Egg playing at. If their statement is true about removing customers with higher risk how come only one of my cards has been cancelled??????

EEYORE2911

I have an Egg credit card with an outstanding balance of about £3500 and only ever pay the minimum and also have an £8500 loan with them and have increased credit limit and extended loan several times. OH has excellent credit rating, never missed a payment or been over the limit on his Egg card and paid off £4000 in December.... guess who got he letter??!!


(Not me, BTW!!!)

Clariman

To help identify what types of customers have or have not had their cards closed, please vote in this poll on the stoozing website. You don't have to register and you don't have to be a stoozer. We want to collect some metrics on it so that we can identify what Egg are up to and see whether the press release and news coverage is just spin.

Clariman

MABLE

I have an Egg credit card and an Egg money they have not said they are taking my credit facilities away. Its all very well moaning but everyone affected must have either missed a payment or exceed their limit at sometime. It may be they have done this with another company and EGG have noted this by the customers credit report. I find on here some posters do not always post the full story.

Also I have the Citi gold card with £8,100 limit and not used for the last two years but again they have not withdrawn the use of the card.