slinkydevil Posted February 2, 2008 Share Posted February 2, 2008 Credit cards are being withdrawn from 7% of Egg's customers who it deems to pose an unacceptably "high risk". http://news.bbc.co.uk/1/hi/business/7224268.stm Seems like quite a lot of people with good credit records have been hit by this too, which seems a bit unfair - guess it was a case of computer says no. Link to comment Share on other sites More sharing options...
thesultanofsheight Posted February 2, 2008 Share Posted February 2, 2008 I would imagine this now sets a precedent for other card issuers and we'll see other announcements over the next month or so. To me its an indication that the economy is expected to get worse. It caps their potential liability to the debt market - if the situation worsens they only have the dedts and problems they have now not new ones caused by people losing their jobs and living on cards until they find work again or people trying to borrow their way out of existing problems. In a weird way it seems prudent. Its just a shame that they were not prudent years ago before they forced credit down peoples throats and caused the problems that are emerging now. Link to comment Share on other sites More sharing options...
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