Egg to ditch dodgy customers

[ASB]

Make them profit, ie borrow a lot from them, buy insurance, and never pay in full - get deeper and deeper in debt and you will be their best customer (until you go bankrupt).

HTH

I think you might have got it in one

[PAH]

I'm expecting a letter off them too. Always pay off any outstanding balance before any interest is due, so (as reported on here and on the BBC website comments), they're not making any money out of me so will no doubt end my agreement.

I'm in two minds whether to cancel it myself before they do it, but remembered the only reason I keep it:

AFAIK they are the only credit card company that allows you to do everything online with the minimum of fuss, include change your address, which is handy when you move around like I do and want to order stuff off the internet that has to be delivered to the card's registered address.

I'd me mightily pissed off if they do cancel it and I get a bad mark on an otherwise perfect credit history.

Time to jump before we're pushed I think. Serve them right if all their good customers leave and they're left with the defaulters.

[VectraMan]

I applied for an Egg card a couple of years ago. After going through the whole process they said "congratulations: you've been approved",and said I could have a limit of £600! As I had a £5K limit off Barclaycard if I should need it, I asked them why the hell they were wasting my time.

[AtW]

Surely its illegal to claim publicly you are bad risk but kick you off only because you are actually low risk (and thus low profit)?

[PAH]

Surely its illegal to claim publicly you are bad risk but kick you off only because you are actually low risk (and thus low profit)?

You'd think that wouldn't we.

If I do get mine 'blacklisted' I wonder if I can sue them for defamation of character (or whatever the correct term is) if it can be proven there is a bad mark on my credit profile, yet I've done nothing wrong to warrant it.

I can see Watchdog getting plenty of calls over the next week from confused and angry punters.

[AtW]

BBC page here -
http://news.bbc.co.uk/1/hi/business/7222336.stm - seems to mainly list responses from people who are sure they are good credit.

[Lucifer Box]

I just hope they give me my outstanding cashback promptly. I'm not using the card at the moment anyway as I'm using the Cap One card with its introductory 4% cashback so no doubt I'm one of these low risk (i.e. low profit) punters they're calling high risk, i.e. high risk to their profit margins.

[NoddY]

How sad that a credit card is now seen as a badge of honour; when it's removed it's some kind of affront against the holders character. What a magnificent triumph of marketing that the little people delight in such tokens made from cheap plastic.

[AtW]

How sad that a credit card is now seen as a badge of honour;

I think the issue here is that these people might be wrongly labelled "high risk", which may mean their morgage terms could be worse, or they might even not get a morgage. Now that's serious.

[NoddY]

I think the issue here is that these people might be wrongly labelled "high risk", which may mean their morgage terms could be worse, or they might even not get a morgage. Now that's serious.

If people who work didn't have to be beholden to the fellows at Moneylender Towers for a house then this problem wouldn't exist.