Credit cards Updated:
Egg recently announced that it is to withdraw credit cards from 161,000 customers, who it believes are "high risk", following a review after Egg was purchased by Citigroup last year. Egg isn't demanding immediate repayment of balances, but customers won't be able to spend on their cards anymore.
This has prompted angry responses from some customers who claim to have an excellent credit history. There have even been claims that Egg are trying to maximise profits by withdrawing cards from customers who it doesn't make a profit from in interest.
Whilst the experts don't believe that other credit card companies will follow suit, it does make sense to check out the latest Credit Card Best Buys to make sure that you're getting the best deal out of your plastic.
It's always best to choose a credit card that meets your individual needs and sometimes it can pay to have more than one credit card and using them for different purposes. For example:
Cashback is good for those who spend regularly but clear the balance each month and American Express are offering a 5% cashback deal for 3-months.
0% on purchases are good for those with some big purchases to make in the next few months and HSBC are offering 0% on purchases for 12-months.
For people looking for a good 0% balance transfer deal, Virgin Money are offering 0% on balance transfers for 15-months.
So whilst some card providers are being a bit choosier about whom they'll accept as a customer, there are still plenty of others out there still looking for your custom and you can be choosy too remember!
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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