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

Glittermonkey

I got my closure letter today.

I owe 1300 on it, the minimum payment comes out by DD so have never missed a payment but I haven't used the card in 2-3 years either.

stogiebear

Mark_Ice wrote: »

The thanks you get for being a good customer!

What makes you think you are a "good customer?"

NeedaLotteryJackpot

I think we could add ages to the poll. I read somewhere that the age group 35 to 50 are considered a bigger credit risk. There's got to be more to it than whether you pay off your card every month.

Paul_Herring

NeedaLotteryJackpot wrote: »

I think we could add ages to the poll. I read somewhere that the age group 35 to 50 are considered a bigger credit risk.

This 'opinion' was generated from an ad-hoc poll (much like these are) on Motley Fool, which found that, of the people who responded, there was a slightly larger proportion in the 35-50 (or whatever range it was - think it was more likely 35-44) who'd had their card limits cut more frequently than the other age ranges.

The poll was not prompted by any specific events, but the results were 'applied' to current events.

wwp8

i thought i was the only one to get this, when i read the letter it told me about section X.X and i thought WHAT!
i then found out the clause was it can cancel any account with 45day notice

for what reason ? i didn't knew .. i was their ideal customer i owe over £3.5k
and pays the min... (i already have 2 x 0% apr cards,. and still doesn't cover it)

and then i found out they have been taken over by "citi" ooooooo i have a personal grudge with them, and they kinda blacklisted me.
(in other words... "don't use our cards. but pay it all back"

so i thought it was just a grudge thing.
now i realized its happening everywhere.

oh well

lavendergirl

Add me to the total, although must admit I was only my emergency card, it was always paid in full by DD on the due date. BTW as it was a Visa credit, as opposed to Mastercard credit, it was about the only card that worked in phone boxes anywhere in the world.

ZippyManiac

I have not been targeted by these corporate bullies, but I am going to cancel my card in protest at these tactics. If everybody does the same where would they be?

ZippyManiac

GandalfTheTight

I would have thought that someone who pays in full, or uses their card rarely are both big risks if you want to avoid lending people any more money.

I.e. If you are up to your credit limit and pay minimum per month the bank isn’t taking on more risk by having you on the books. If on the other hand you have the facility to spend up to 10k on 5 different credit cards there is the potential for the bank to take on more risk – which at this time I am guessing it just doesn’t want to.

So someone at the bank says how can we avoid more risk – cancel anyone who has a large credit facility.

Working_mum_5

wwp8 wrote: »

i thought i was the only one to get this, when i read the letter it told me about section X.X and i thought WHAT!
i then found out the clause was it can cancel any account with 45day notice
:eek:
Me too - I got the letter on Saturday morning and didn't sleep with worry all weekend!!!

I owe just under £4k and pay just over min payment each month. I havent checked out my credit rating (I know I should - I'm new to this!!!!). Maybe that's my job for this weekend..............

lofty_cherrytree

I have had an egg card for years, paid off the outstanding balance in 2003 and not used it since! Haven't received a letter but expect to, although they sent a new card to me quite recently (TBH I only keep it for emergencies)