No happy ending for Egg credit card customers
I posted about this earlier in the week; Egg asked to apologise to credit card customers However, Egg have made no apology and refuse to change their stance on the cancellation of 161,000 credit card customers accounts.
The Labour MP Nigel Griffiths had his meeting and Egg bank say that even the customers who pay their balance off in full every month might become a high risk in the future.
A spokesman for Egg said; “The review was based upon a large number of variables and studied the level of risk inherent in groups of customers, rather then every individual,”
“So while some customers in that group may be up to date with their payments and have a good record with credit reference agencies and so on, the probability of them becoming a higher-risk customer in the future is higher than we wish to accept.”
Egg went on to explain that they looked for different spending patterns and recent additional credit card applications amongst other things to help them decide that these customers might end up more of a risk to them in the future.
The meeting between Mr Griffiths and Egg Cheif Executive Ian Kerr was discribed as constructive and Mr Griffiths commented; “I expressed my strong concerns about the letters sent to customers, particularly since I felt that more information could have been provided,”
“I have received an assurance that Egg will ensure that the credit record of these card-holders will not be affected, as long as they keep up their agreed repayments.”
To apply online for the Egg credit card visit http://www.egg.com
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