Egg customer anger at credit move

Egg says 161,000 cards belonging to people whose credit profiles have deteriorated since they signed up will stop working in 35 days' time.
But people who insist they have good records have been contacting the BBC to say they are on the list.A Labour MP is asking the banking industry watchdog, the Financial Services Authority, to investigate.Nigel Griffiths, a former deputy leader of the House of Commons, said Egg's action was "unacceptable".A spokesman for the bank said those affected were customers it no longer wanted to lend to "regardless of their current status".Credit cards are being withdrawn from 7% of Egg's customers who it deems to pose an unacceptably "high risk".
This could include those who have missed repayments or exceeded their credit limit.
'Arbitrary action'

Cardholders will be able to continue making minimum monthly repayments on their balances but will not be able to spend any more after the deadline.
The move follows a "one-off" review after Egg was bought by US-based Citigroup for £575m last year.The bank is not demanding immediate repayment of balances or making any changes to customers' terms and conditions or their interest rates.
The 35-day notice period starts on receipt of the letter, which also provides details of how to appeal against the decision.

news source : http://news.bbc.co.uk/2/hi/business/7224268.stm