my credit limit was 8000GBP and I used to spend about 2000-3000 a month on the card, but always paid the balance in full with direct debit. i have gone over limit before but they always raised my limit as I had never missed a payment. i like to think my credit record is very good, I have a mortgage with no missed payments, etc. the letter I received telling me they were cancelling my card was written out like I am a bad risk because i dont pay my bills etc? fu!*>ers should just say the truth that they dont like customers who dont get into financial problems and that people who dont make them much money are not worth anything to them as customers - or indeed worthless as humans too, im sure they think that also. my world of warcraft subscription is on my egg card and im furious they are making me log into my control panel and change the details, taking time out from my raiding!!!1 :@:@:@:@:@:@:@:@:@:@
news link:
http://afp.google.com/article/ALeqM5...Xo4l8yF71TVw7g
Internet bank to cancel thousands of credit cards
Feb 2, 2008
LONDON (AFP) ? Internet bank Egg has cancelled the credit cards of around 160,000 customers who have a "higher than acceptable risk profile".
Egg, which was bought by Citigroup last year, denied the move was linked to the global credit crunch and has faced an angry backlash from some of those whose cards will stop working in 35 days.
"Egg is very sorry that some customers are upset after receiving notification that it is ending their credit agreements," a spokesman for the firm said late Saturday.
"Egg has decided that it no longer wishes to offer credit to these customers, after conducting a one-off extensive review of its credit card book following the acquisition of Egg by Citi in May 2007."
Citigroup has been badly hit by the subprime crisis in the United States and unveiled quarterly losses of 9.83 billion dollars last month.
The move has hit seven percent of Egg's two million credit card holders. It is not asking for immediate balance repayments or changing terms and conditions.
One angry customer is Gillian Cox of Farnham, who told the BBC that she and her husband have always paid off their balance in full each month.
"We are retired, no mortgage, no debts, joint income of about 35,000 pounds," she told the BBC.
"I phoned Egg who were unable to do anything but recite the same paragraph as was in the letter."
Labour MP Nigel Griffiths has asked the Financial Services Authority (FSA) to investigate the move. Egg says it informed the FSA before acting.
news link:
http://afp.google.com/article/ALeqM5...Xo4l8yF71TVw7g
Internet bank to cancel thousands of credit cards
Feb 2, 2008
LONDON (AFP) ? Internet bank Egg has cancelled the credit cards of around 160,000 customers who have a "higher than acceptable risk profile".
Egg, which was bought by Citigroup last year, denied the move was linked to the global credit crunch and has faced an angry backlash from some of those whose cards will stop working in 35 days.
"Egg is very sorry that some customers are upset after receiving notification that it is ending their credit agreements," a spokesman for the firm said late Saturday.
"Egg has decided that it no longer wishes to offer credit to these customers, after conducting a one-off extensive review of its credit card book following the acquisition of Egg by Citi in May 2007."
Citigroup has been badly hit by the subprime crisis in the United States and unveiled quarterly losses of 9.83 billion dollars last month.
The move has hit seven percent of Egg's two million credit card holders. It is not asking for immediate balance repayments or changing terms and conditions.
One angry customer is Gillian Cox of Farnham, who told the BBC that she and her husband have always paid off their balance in full each month.
"We are retired, no mortgage, no debts, joint income of about 35,000 pounds," she told the BBC.
"I phoned Egg who were unable to do anything but recite the same paragraph as was in the letter."
Labour MP Nigel Griffiths has asked the Financial Services Authority (FSA) to investigate the move. Egg says it informed the FSA before acting.
) and not necessarily go as far as a default...
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