For all those who received THAT Egg letter

youknowwho

TheGrant wrote: »

Give the OP a break. He's unsure of the situation and asking for advice. He's misread the letter and isn't sure of things. Put him right, don't bully him.

but its ok for the OP tohave misread the letter than ring up egga nd have a go about it. And to the OP, what good would "laughing out loud" at the advisor do? Do you realise that the advisor was probably thinking that you were obviously desperate for credit and embarresed that they were closing your account. Again, i am not an egg cm, and i am aware that you do not have to pay your bill off in 30 days. I think that egg are completely within their right to do what they are doing, it is their own money and they have the choice to lend who they want to lend to. Having credit is a privilage, not a right and i think that far too many ppl take that for granted. If you are a risk to them or are not profitable then they dont want you on their books, simple as. If it was your business - what sort of customer would you prefer??????? See it changes when you think about it from their angle.

jinkssick

Why are people taking these SO seriously. Dont you understand that they will say anything on those letters because your a not making them money. Simple as, this route basically just legally covers them.

CopperPlate_2

As an Egg customer who HASN'T (ha, as yet!) received THAT letter but one who clears their small balance each month I really think this is a storm in a teacup. The real problem is battered egos and hurt pride. So Egg has lost 160,000 customers? It hasn't just stuck a pin in the books to decide which ones to terminate (I would think) and I'd think that there were more than that number of customers on their books who CLEAR their balance every month, so there must be more than just churlishness for this decision.

youknowwho

jinkssick wrote: »

Why are people taking these SO seriously. Dont you understand that they will say anything on those letters because your a not making them money. Simple as, this route basically just legally covers them.

agree completely Jinssick, i would love to work at egg right now and have the pleasure with dealing with all the ppl who ring up making a fool of themselves by getting "upset" that there access to credit has been removed. If only the advisors could just be blunt with the customer and just say, "we dont want to lend money to you, because you dont make us any money therefore we are going to keep it and invest it somewhere which makes us a bit of dollar" I think its a good thing that they are doing this, credit shouldn't b so widely available and then ppl wouldn't get THEMSELVES into trouble.

Jennifer_Jane

CopperPlate wrote: »

As an Egg customer who HASN'T (ha, as yet!) received THAT letter but one who clears their small balance each month I really think this is a storm in a teacup. The real problem is battered egos and hurt pride. So Egg has lost 160,000 customers? It hasn't just stuck a pin in the books to decide which ones to terminate (I would think) and I'd think that there were more than that number of customers on their books who CLEAR their balance every month, so there must be more than just churlishness for this decision.

Hi, isn't it a little bit more than battered egos, though? Didn't the letter say that they were closing the account because of credit ratings and suggest that people check their credit ratings (which costs money) - hence one of the Egg threads on this forum has been to petition Egg for the return of the costs of doing so. Quite a lot of people felt very concerned that their credit status appeared to be a problem, and some worried that they had been victims of ID fraud.

I have sympathy with them. I closed my Egg Visa about a week ago, and use my Egg Mastercard for shopping - I really hope that they don't close that. If they do, well, so be it.

Jen
x

sarahh56

youknowwho wrote: »

agree completely Jinssick, i would love to work at egg right now and have the pleasure with dealing with all the ppl who ring up making a fool of themselves by getting "upset" that there access to credit has been removed. If only the advisors could just be blunt with the customer and just say, "we dont want to lend money to you, because you dont make us any money therefore we are going to keep it and invest it somewhere which makes us a bit of dollar" I think its a good thing that they are doing this, credit shouldn't b so widely available and then ppl wouldn't get THEMSELVES into trouble.

Agree, we have an egg card and clear the balance, if you are not a good credit risk then the card companies are doing everyone a favour, it's a shame that more card companies are not so good at this, that's why people can get in such a mess becuase card companies allow it.

cakey

is it not a good thing that they are reducin the amount of debt in this country. by cancelling the cards they are almost comending the people for getting out of debt. if you pay it off, or the card is cancelled it is one less card to worry about.

Badger_Lady

This kind of thing happens all the time - it's just that Egg have done it in bulk this time.

Halifax cancelled my Amazon card at the end of last year "following a review of my account management". I didn't care - it was at 0 balance and came with crap customer service... it makes you feel angry because it's a rejection, but the credit issuer is perfectly within their rights.

Egg aren't doing anything unusual, except that they're doing it to a large number of people at once.