Egg to ditch dodgy customers

[51st State]

So they (officially) are closing these accounts because they are viewed as a bad risk, but won't actually put a bad mark on the credit references which is there to allow companies to identify bad risks.

Talk about the hypocritic oath.

There's a huge difference between a bad risk and a bad debtor.

Egg's view of an acceptable lending risk may be completely different to another of the credit card players who have a different risk profile, and credit reference agencies aren't there to provide an actual score; just a profile. Not sure how one of the earlier posters knows that he has the scores the perfect credit score?

If your credit history is good, i.e. you've paid up punctually and not exceeded your limit, then there'll be no problem with your file, will there?

As any business, they are quite within their rights to stop servicing unprofitable customers.

[AtW]

As any business, they are quite within their rights to stop servicing unprofitable customers.

Yes, but they are not within their right to lie about reason for stoppage of service by giving completely bogus explanation which could put that customer in trouble with other credit suppliers for no reason - I am pretty certain that anyone who was actually a good client (paid all on time, can prove high credit rating) AND suffered increase in interest rate due to actions of Egg can easily win in court that money back - that's why they say they won't make any changes to file, which is odd really, if people are bad debtors then surely other credit companies should know about that too?

[Ardesco]

Yes, but they are not within their right to lie about reason for stoppage of service by giving completely bogus explanation which could put that customer in trouble with other credit suppliers for no reason - I am pretty certain that anyone who was actually a good client (paid all on time, can prove high credit rating) AND suffered increase in interest rate due to actions of Egg can easily win in court that money back - that's why they say they won't make any changes to file, which is odd really, if people are bad debtors then surely other credit companies should know about that too?

Alexi, you are getting bad debtor and high credit risk mixed up.

You can be a high credit risk without being a bad debtor, and you can also be a bad debtor but still pay off Egg on time and be a perfect Egg customer.

They can't put anything on the credit record unless you default with them, could you imagine the tulip people would have trying to get credit if all of the companies you had credit with could put a black mark against your name as soon as you missed a payment with one company......

[AtW]

They can't put anything on the credit record unless you default with them, could you imagine the tulip people would have trying to get credit if all of the companies you had credit with could put a black mark against your name as soon as you missed a payment with one company......

I had court CCJ put onto file of my ex-ex-landlady who sued me with bogus reasons, stupid bint did not pay me what court ordered int he counter-suit, which resulted in me getting bailiffs first (did not work, disappointed with them), but then arrested money in her bank account - she still must have CCJ on her record for not paying in time for court order

[Ardesco]

I had court CCJ put onto file of my ex-ex-landlady who sued me with bogus reasons, stupid bint did not pay me what court ordered int he counter-suit, which resulted in me getting bailiffs first (did not work, disappointed with them), but then arrested money in her bank account - she still must have CCJ on her record for not paying in time for court order

Your point being??

She defaulted and got a CCJ. Sounds perfectly acceptable to me.....

[AtW]

Your point being??

My point being is that I remember that moment with great pleasure, even though parasitic lawyers on my side poisoned the victory somewhat, but I got them into place too so they refunded some of the rip off charges

[meridian]

But then you could also walk into a bank and ask for a mortgage for £1Million. When they say no, but we can offer you £100,000 would you class that as being refused credit?

If they refused outright then yes, you have been refused credit. What does it matter if it's £1m or £1? If however the bank says they will lend you £100k then you haven't been refused credit, it's just the amount that is different.

You could also say the barman at your local refusing you a tab is refusing credit... Where do you draw the line?

Sure, why not? If your local doesn't trust you, why would any other business?

IMHO it means have you ever had a black mark put on your credit record that prevents you getting credit.

To borrow from another thread, if you know that you've been refused credit but it's not on your credit file how morally justifiable is it to lie on an application form?

[Platypus]

You could also say the barman at your local refusing you a tab is refusing credit

It's against the law give people a bar tab

[Alf W]

As Egg are still advertising for new business, I think we should organise a Facebook campaign to get as many people as possible to apply for a card on a specific day and try and overload their systems.

If they were honest about this I'd have no problem with it.

I'd be in. Haven't had a spat with a credit card company for a while.

[bodnobal]

What is peoples problem with this, every freaking forum you go on has a subject about Egg.

If Egg want to kick you in the nuts then maybe complain a bit, but for dumping people they don't expect to make money out of, ffs get real.

On utube there are people actually crying, just do a search.

Jepus H cnting christ