Citibank to end up with Egg on their face?
The familiar sound of our political representatives leaping on a passing band-wagon was heard this week.
Labour MP Nigel Griffiths declared his intention to table a House of Commons motion demanding a full inquiry into the controversial decision of Citibank owned credit card provider, Egg, to cancel the credit cards of 161,000 customers.
Labour MP Nigel Griffiths declared his intention to table a House of Commons motion demanding a full inquiry into the controversial decision of Citibank owned credit card provider, Egg, to cancel the credit cards of 161,000 customers.
Following a complaint by Mr Griffiths to the Financial Services Authority (FSA), the Office of Fair Trading (OFT) has announced it will be looking into the matter.
Egg has denied the credit card cancellations was because the customers involved were not profitable enough. But here at TheRateTart we reckon that story is a bit of a rotten Egg.
To understand how the credit card companies make money and how to beat them, check out our Guide to Credit Cards.
Added : Thursday 6th March 2008 12:40
Tagged In : Money | Credit Cards
