Have you had your Egg credit card closed? Take part in our poll...

ajaxgeezer

Ron_Lewingdon wrote: »

Yes I've also had the letter

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Not at all happy - I've never missed a payment with Egg and now are worried about getting a bad credit rating!
Ron

Ron don't worry. As long as you make payments on time, your credit profile can't be harmed. In fact it will slightly improve as you will have a smaller debt and less unused credit.

thecardog

The Egg rationalisation is nothing new.

Last November, my credit limit with Barclaycard was slashed to a ludicrously low amount. I always paid my amount in full each month and never paid interest or charges. Obviously they were not making any profit from me.

Despite a letter of protest, Barclaycard would not confirm why they had done this, they just said it was due to a number of factors. What these could be I do not know. I even checked my credit reports but there were no adverse entries on these.

IT'S ALL DOWN TO PROFITEERING :mad:

I no longer use the card.

ajaxgeezer

thecardog wrote: »

I no longer use the card.

......IMO that's exactly what they wanted you to do. If they wanted to keep you as a user they'd have let you keep your credit limit. By you cancelling it, they get the no-profit customer off their hands (exactly what they'd want) without a fight. Sure, they lose the merchant charges but if they were bothered about those then they'd have left it alone in the first place.

chelsea1504

I too got the letter! Although I have both Money card and straight forward Egg Card at this stage they haven't closed the Egg card only the Money card account. Owe about the same on both - have never missed a payment on either as pay the minimum by DD. Also have a loan with Egg which finishes in March again never missed a payment. Wonder if they'll give me a new loan to pay off the Money account - at least the interest won't keep racking up!

secgirl

chelsea1504 wrote: »

I too got the letter! Although I have both Money card and straight forward Egg Card at this stage they haven't closed the Egg card only the Money card account.

Watch that space on the mat. I got two letters two days apart - very economical and environmentally friendly - NOT! Not sure what their opinion on giving you a new Egg loan would be, but would be interested to hear! Anyway, in the meantime welcome to the club!:beer:

supersavershal

unixgirluk wrote: »

Will other banks follow suit though? I really hope not!!!!

Other banks have allready been doing it, just not with the PR that egg has used.Abbey did it to OH a year ago, and MBNA did it to me about 6 months ago.I had paid my balance in full and they reduced credit limit to £500 from £5000 following a review of my credit search.I rung them up and they said to ring them if I needed a higher limit and they would put it back up for me.I thought it was just me until I spoke to some people I worked with, the thing we all had in common was we had paid the balance in full before the 0% deal ended.Its probably been going on a lot but because we thought it was on an individual basis we didnt question it.Egg had it announced on the news so people were aware of it happening on a mass basis.

SarahNeedle1872

I've just had a thought..... bear with me because they don't happen very often!
If Egg are closing accs because people are a bad credit risk (allegedly), then how comes they gave myOH a CC in the first place? He had a default registered with them 4 years ago, and only ended up paying them back about half of what he owed..... then last Oct (or whenever) he re-applied and got a new card, put £1800 on it, and STILL he hasn't got a letter

Shhy76

Hi, I got the letter a few days ago, but now seems I have an added problem.

To be quite honest I really don't care if they take my card away, since my balance has been nil for years. I'm a stay at home mum so couldn't afford to pay it off even if I did use it. So I sent them a message and told them to close down my savings account as well since I didn't want to use them at all any more, and I deleted all my other credit card logins on their "my money" thing. I got a message back saying they'd passed on my request to the savings department and they were sorry if I was disappointed. I had already said I wasn't.

Today I got a letter from MBNA telling me that my request to reinstate my credit card had been declined, and then some waffle about if I wanted to view my credit file I can do so.. blah blah blah.

I sent a very angry message to Egg telling them they had better not put any negative marks on my credit score now since this unauthorised credit check had been done.

Anyone else had this or know if anything can be done about it? Interestingly, my other half also has an Egg card with a nil balance for the last 5 years or so and did not get a letter.

simonts

Interesting I thought I had got away with this, But no yesterday I get my letter that they are terminating the agreement. Fine by me it just kicks me in the !!!! to do more about reducing my debt and egg was the worst APR of the lot

CrazyCat

Shhy76 wrote: »

Today I got a letter from MBNA telling me that my request to reinstate my credit card had been declined, and then some waffle about if I wanted to view my credit file I can do so.. blah blah blah.

My husband was rejected by MBNA approx a year ago saying pretty much the same thing. He did the credit check and there was absolutely nothing wrong with his credit history. He challenged them but got nowhere (didn't make any great effort to pursue it though!)

I suspect it's just a standard letter and the reason for the rejection was simply they didn't think they'd make enough money from us!