The Hooded Claw© 67dtg
|
I had an Egg card a few years back and found their customer 'service' to be appalling. I paid off the card and closed the account. |
|
Sarah-P
 |
No it stinks. The majority of people they are cancelling, are people who use their credit card during the month, and spend maybe £200-£500, and then pay it all of 'just' before the date before interest would start to occur. So EGG aren't making ANY money from them.
I hope that the company goes bust within the year. It'll serve them right.
My husband paid all of his credit card off with some redundancy money 2 years ago (£3,000) and it had had more than a grand owing for about 3 years prior to that.
Then after he'd paid it all off, he didn't hardly use it, and mastercard wrote to him after 6 months wanting to know why, and they enclosed blank cheques with his name already printed on and all sorts.
If these 'cheques' had fallen into the wrong hands, he could have owed a fortune! These credit card companies don't like it when they can't make sh*t-loads of interest from you! Bastards. |
|
DiDi
 |
Good grief, that's a bit rotten isn't it - 35 days notice!! |
|
helenwood79
 |
I think they are doing those people a favour. Why spend so much money on interest? Why not wait until you actually have the money instead of using credit all the time? |
|
Roxy
|
We received our delightful Egg letter yesterday! Phooey to them. If they don't want our custom we shall take it elsewhere (preferably to a bank that's not owned by a faceless American corporate greed-monger). |
|
Albert arrrrrrrrggh
|
You honestly think credit card companies or any other private financial institution give a **** about right or wrong? You seriously don't believe they would happily see people starve to death before taking a cut in profits? Welcome to the real world of selfish capitalism mate. It's gonna get nastier. |
|
pompeyrew
|
I guess Egg can do what it wants, but it will be it's own downfall. Who else will now apply for an Egg card on the back of this? Sometimes the pencil-necks in the offices never really think thing through. |
|
putonyourflipflops
|
If banks are so concerned about the ability of customers to pay back credit then maybe they should be looking at who they allow to have a card in the first place.To penalise customers who pay back money on time is very unfair. This is very suspicious to me and makes me wonder if they are actually in the same situation as northern rock.
Banks usually love customers to be in debt to them....that's how they earn their money .This false responsibility is a joke. Maybe I should find another savings account sharpish................................... |
|
Maja P
|
What a cheek! I have an egg card which I've had for just over 2 years, I've been late on about 6 payments and there is still over £1500 owing! I have not received a letter! It seems they are trying to cut-out those who don't make them any money cos they sure make a whole heap of money out of me!
And to answer your question, yes they can do this, it's in the T&C, they have the right to check your file when they want and cancel your card at anytime or change terms etc if they give you notice.
M. |
|
gill c
 |
This action by Egg will only be the first of many. the criteria for gaining credit of any kind is tightening almost daily. 12 months from now there will be no free bank accounts, they will all carry a fee. Credit cards will be given on a six month probation basis. |
|
Duncan E
|
Please don't think that it's just EGG that are 'doing the dirty'. The Cooperative bank has been reducing customers credit limits down to the minimum for no apparent reason for months now.
They cite 'poor credit ratings' but this is just bogus. Unlike EGG, they reduce the limit and then tell the customer. If they go the way of Northern Rock I trust no one will bail them out!!! |
|
Beastie
 |
Absolutely totally unethical.
Sure, their excuse makes sense... if you ignore the hundreds and thousands of people all wondering why their card's being cancelled when they've never missed a payment or indeed paid off the card every month.
My missus got refused a card from them recently. This is in spite of a perfect credit score (I've never met anyone who keeps a closer eye on their finances!), never having missed a payment on any form of credit and currently having almost thirty thousand pounds of untouched credit on two other cards. She simply does not use these cards, but the limit keeps rising.
She said then, and I agree with her, that since she was unlikely to make them any money through charges and interest, they wouldn't give her a card. Not because she was a risky customer; because she was precisely the opposite.
Here's an idea, people. Pay off the cards you've got, especially if you're the type of person who pays off the account every month. Then cut your cards up. If you pay it all off monthly, you don't really need it anyway. Don't cancel it, though. Just let them swing in the wind for a while wondering why there's no activity on your account.
And don't go for Egg.
They're rotten. |
|
Duffer
|
It must be understood that Egg are protecting their business. People have used Egg's money and under the T&C Egg can withdraw the facility at will. No one is being asked to repay the loan at once, and there are plenty of other credit cards out there offering nil interest on balance transfers. Welcome to the real world.
BTW, putonyourflipflops, Egg is owned by CitiCorp of America, a very big bank |
|
lily
|
No its disgusting, they wont be trusted after this, |
|
momof3 soon to be granof1
|
Wonder how many are now going to max out before dead line so more debt to pay them back?
They are going to make a fortune as the 161.000 rush to spend what they have left to spend. |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
