Crack the EGG - claim back your Credit Reference Fees!

lisyloo

Lisyloo..... do you work for EGG or the Credit Report companies?

No I do not.
If you are really want to know then I work in IT as a consultant.
However I always try to look at things objectively hence I've read the letter myself rather than going on media reports or user comments.
Everyone is entitled to their opinion but I think those who had their cards cancelled are not emotionally detached and have a vested interest.

but here a large conglomerate has gone into gear without thinking of their impact on the small people.

Oh...and I thought they were in business to make money for their shareholders
Please point me to a mission statement or charter that says they are in business to benefit the "small people".

With all the negative publicity of personal data going amiss people have the right to be touchy and to be worried when a letter like the one EGG sent hits their welcome mats.

People can be as touchy as they like.
What they do not have a right to do is to hold Egg responsible for previous mistakes by the government (or anyone else).
If people have emotions caused by a number of unrelated causes in the past then you can not blame egg.

I have no vested interest either way. Only in objectivity and facts and I think the reaction has been hysterical (I don't be funny - I mean an overaction to what was actually said).

However I would be interested in knowing how people get on with this.
Whether I am wrong or right, it's all knowledge and experience.

Ralph_the_Cat

realaledrinker wrote: »

I always pay off my egg card every month but haven't received a letter. This has quite stressed me out. Can I claim compensation from egg for the pain and suffering caused?

Compensation culture gone mad in my opinion.

When people are treated like something that is unpleasant to step on, they may feel a little bit better about things costing the lying tools that did it some time in admin and costs.

Ralph_the_Cat

UK007BullDog wrote: »

Lisyloo..... do you work for EGG or the Credit Report companies? LOL

I am not advocating compensation for every little thing, but here a large conglomerate has gone into gear without thinking of their impact on the small people. With all the negative publicity of personal data going amiss people have the right to be touchy and to be worried when a letter like the one EGG sent hits their welcome mats.

The government is not the only entity to be careless with personal data. And Egg operates in an environment that is acutely aware of the consequenses of loss of personal data. And in being aware of that - should have been honest of their intentions - then people - like myself would not have feared that they must have been victims of identity theft for something like this to happen.

Jon_brown_3

Great bit of news for all us prudent Egg card users that got dumped despite an excellent credit rating and no debts- http://news.bbc.co.uk/1/hi/business/7290702.stm
The bit I enjoyed was-
"Labour MP Nigel Griffiths, a former consumer affairs minister critical of Egg's actions, welcomed Mr Kerr's resignation.
"Egg presided over a PR disaster, withdrawing cards from thousands of perfectly respectable customers and failing to give full and honest reasons," he said."
Big thank you to Nigel. He used my case as an example when he met Ian Kerr last month - no debt, 2 houses, no mortgage, big income, trust fund and I'm a credit risk- egg !!!!.

lisyloo

Hello,

I was jsut wondering how people are getting on with this?
Did anyone get a response to their complaint?
If so what was the response?
Did anyone get their credit reference fees refunded?

Just intrested how it turned out as it was a bit contensious at the time.

Che75

Hmmm. I got this same letter from Egg and I don't really see what all the fuss is about. Although the link doesn't seem to work so I can't read it again, nothing in that letter made me reach for a credit report.

Ok, I don't quite fall into the same category as the other posters as I didn't repay my balance in full every month. In fact I was quite near the limt, but was keep up with repayments so I was profitable.

When I got the letter I took it for what it was. It doesn't say you personally pose a credit risk. It says they're looking to reducing the overall risk of their portfolio. When you apply for a card they give you a credit score which lumps you into a category with other people and a decision is made for everyone in that category. Same here, overall risk of people in a certain category is assessed. Do you honestly think banks look at you as an individual, and assessed every card on a case by case basis? They won't even have done a new credit check. They just want to minimise their losses in the "credit crunch" and for some reason we fall into an "at risk" category.

Jon_brown - it doesn't sound as though you need a credit card with your big income and trust fund. So IMO revoking credit that isn't needed, probably with high limits due to your income, is a pretty good way of reducing overall risk to Egg because it reduces their total liability. So I'm not entirely convinced you have a right to be so upset, but given that an ill-informed MP has got involved and created much-ado about nothing you might get what you want.

Much more damaging in real terms is the fact that people who really need access to credit are having it withdrawn, and it is them who will struggle in the coming months and years.

Anyway, that's by two-bits worth as I missed this post at the time! I'd also quite like an update on what subsequently happened.