Customers with unblemished repayment records are having their spending limits cut. This move
has been unexpected and many customers are angry by the move since most are unaware that their spending
limits have been slashed until the time of a purchase. One man said he felt humiliated when his credit
card was turned down. Another individual had his credit card spending limit reduced from 4, 950 pounds to
a mere 700 pounds, all without prior warning. The internet bank Egg has already withdrawn 161,000
credit cards from its clients. The move is aimed at withdrawing credit cards of customers who do not
generate revenue for the companies.

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Posted by Shue on April 4th, 2009 :: Filed under credit card

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