Egg

[bigsteve]

I rarely use my Egg card, but when I do, I clear it in full at the end of the month. This morning I got a letter from them saying I was a 'high risk' and they are terminating my card

Its a downright cheek - they obviously want rid of me because they don't make any money from me through interest. If they only want people that get themselves into debt and don't clear their balance, why do they do a credit check on you when you apply?

I've contacted the financial ombudsman and taken it up with the MP that was on the BBC earlier.

When I first got the letter this morning, I hadn't see anything on the news about it, and thought someone had got hold of my details - very worrying stuff

[Quadrant]

Sounds bad sir! I passionately detest credit cards anyway. I was in seriously terrible debt with them a few years back and simply couldn't pay it off and it was making me depressed because I was constantly worrying about it and it ruled my life.

Thank god for my lovely wife or I'd have intentionally fallen on my own sword! :sweatingbullets: We focussed on annihilating 1 credit card at a time, gradually paying more and more of it off, then when it was at zero she'd go get the scissors and make me snip it up so I didn't use it again... after doing this slowly with 4 cards over about half a year, I finally saw my account reach zero pounds, and now I never ever ever ever ever go into overdraft unless I know my paycheque will cover it. I only have 1 credit card now, which we share and use very sparingly because I find it immensely satisfying saving up for my targets (not archery though, sadly, do you know how expensive those are?).

[Moonman]

i dont have credit cards anyway. I heard they were doing this though. The official line is to stop the overspenders who can barely afford to pay the minimal payment per month. Probably because they know that the overspenders will never pay it back, declare themselves bankrupt and have the cards written off! wicked eh.