Egg, the internet bank in the UK, owned since May 2007, by US giant Citigroup, has within the last few days Egg's given a number (7% or 161,000) of its credit card customers notice that it is ending their credit card agreements. This is about the bank off loading people who they can't make money out of. That includes people who always pay back in full and on time.

What is wrong about this is that they appear to have tried to disguise their actions by inaccurately stating that it is due to their customers' deteriorating credit profiles. Receiving a letter saying that your credit card is being withdrawn is unpleasant enough without Egg slapping you in the face by implying it is your fault!

Credit card companies are dependent on some of their customers taking forever to pay their debts off to generate money for them in the way of interest. But the description has angered some customers who told the BBC that they had received a letter informing them of the withdrawal, despite having an excellent credit history.

Another point to be taken into consideration is that your good credit score can also be affected if the account closed on you is among your oldest accounts .

Amongst one of the customers who received a letter informing her that her account was to be closed was Gill Cox from Farnham in the South of England. She is a more mature customer and because of her age could experience difficulties ill finding a card with a similar agreement.. Mrs Cox told the BBC that she and her husband are retired and enjoy a joint income of about £ 335,00 (47,000 euros, 69,000 dollars). They do not have a mortgage or any debts and have always paid their balance in full each month. On contacting the credit reference agency Experian Mrs Cox was told that she had an excellent credit rating.

A Citigroup spokesman said the New York bank was making the move after reviewing the UK customer accounts of the Egg. However should other Citigroup consumers expect many more credit cards to be closed following such credit reviews? Only time will tell?

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