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Egg Move Could Leave Customers In No-man’s Land

Monday 4 February 2008

Commenting on the news that internet bank egg is cancelling 161,000 credit cards, Eddie Lynch, Head of Consumer Affairs at the Consumer Council said: “Juggling finances is hard enough but getting a letter out of the blue cancelling your credit card will leave consumers high and dry and having to urgently find other credit. We recognise that banks can choose who they offer credit to but we question how and why egg has arbitrarily branded some customers as “high risk”.

The Consumer Council is meeting the Financial Services Authority in Belfast this Thursday (7 February) to discuss how egg has handled this situation and to urge them to press egg for a full and open explanation of how they came to this blanket decision.  Consumers will be rightly concerned about what this means for their credit rating and we will also be discussing what the negative impacts could be for customers. 

If you are affected by this issue and want to complain, contact egg on 08451 233 233 or visit its website at www.egg.com[1] .  If you are not happy with the response, contact the Financial Ombudsman Service on0845 080 1800, enquiries@financial-ombudsman.org.uk or visit the website at www.financial-ombudsman.org.uk.

Although the Consumer Council cannot handle complaints about egg, consumers can contact them for local, independent help and support on 0845 601 6022, complaints@consumercouncil.org.uk.

  1. Consumer Council media contact: Susie Brown, telephone, 028 9067 4807 or e-mail, sbrown@consumercouncil.org.uk.  
  2. The Consumer Council is an independent consumer organisation, working to bring about change to benefit Northern Ireland’s consumers. The Council campaigns for high standards of service and protection and a fair deal for all. It also carries out research, gives advice and publishes reports and other publications. It deals with individual complaints about electricity, natural gas, coal, passenger transport and water.
  3. For more information, visit our website at www.consumercouncil.org.uk


[1]If you affected by this, register your complaint by calling08451 233 233 or on egg’s website at www.egg.com. Egg should acknowledge your complaint in 5 days and give a full response within 8 weeks.

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