Now I hear Egg credit card company, which is now owned by Citigroup, is withdrawing credit cards for 161,000 people. They claim those people who "pose an unacceptably high risk".
Yet the comments from customers paint an entirely different picture.
'm an egg customer also and after reading this report thought that I would be one of the ones affected. We regularly max out our egg card through balance transfers. "Risky customer" you may think, but not so it seems. I have yet to receive a letter so this seems to bear out what everyone is saying about maximising profits
Dave, London UK
I too have just received one of these letters. I have had an Egg card for almost 8 years and have never missed a payment (like others here I usually pay off the balance if I have one) and have never gone over my limit and my credit rating is excellent. It seems to me that Egg are picking on those who are in control of their finances and therefore not paying them lots of interest. If they deem fit to remove my Egg card, I shall be removing my Egg Savings (which has a far larger balance than my Egg card!). I think this is disgraceful behaviour on their part.
Egg MAY be cancelling high-risk customers, but they are also apparently ditching those, like me, who pay no interest because we are GOOD creditors! Its disgusting that they are making out its just the bad ones who are being dropped. Fair enough if that's what they want to do, but don't send a really upsetting letter that makes it sound like we have a bad credit history all of a sudden. Good riddance to them, I say, if that's how they treat people.
Trevor Smith, Nottingham
I hate banks more than ever. I will be steering well clear of Egg and Citigroup from now on.