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Monday, March 2, 2009

Good payers face being axed by credit card firms

CREDIT CARD for payment of their balance each month are in danger of being cut off from your lender because they have control over their debt.

Control of banking institutions to tell the banks to the elimination of loans to customers with impeccable records and they can be very few benefits.

This release is made, although the credit card company Egg was accused by some of the cards of their customers more responsibility in the context of a victim of those who said they had a "greater than acceptable risk."

The lender, part of Bank of America, Citi Group, has written a letter to 161,000 people - 7% of customers - in the last week to warn that the card is removed in 35 days. Then even the repayment of balances over a longer period.

Many people caught in the fight against them are "safe" customers who have never been against their credit limit and have paid your balance every month.

Gillian Cox, Farnham, Surrey, said he was "absolutely furious" that his was canceled, which he described as "incredibly arbitrary." She said she and her husband were withdrawn without a mortgage and debts and always on the balance of the entire month. "

Trevor Smith, Nottingham, which also pay your balance every month, even canceled cards. "It is disgusting that she is poor, abandoned," said Smith. "Good Riddance ... If, as in humans."

It is said that the area inside that company, a provider of credit cards have the right to abandon customers who do not generate revenue. "In the last two years, more and more customers pay their credit card debt, less interest expense and other payments to the suppliers," said the source.

MBNA, the giant credit card, the annual cost of recently introduced to those who rarely their accounts.

Egg rejected orientation, but the customer is not profitable Experian, an inspector of the funds so that those customers are not so happy in the future. "Put yourself in their shoes. To name just a very few and pay every month. You're not an ideal customer," Peter Brook, a spokesman said.

taken from http://www.timesonline.co.uk/tol/money/borrowing/article3295315.ece

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