The new problem facing credit card companies is the fact that they can't make enough money of poor customers to cover the costs of its good customers to whom it simply gives interest free loans. So, at least one Citigroup-owned bank in the UK has begun cutting perfect customers in an apparent attempt to profit more off of their poor customers. Egg Bank cut over 161,000 customer accounts including those who have spotless credit histories and even a few millionaires! Isn't it ironic that the UK couldn't yet learn from the USA the problems associated with lending only to those with poor credit histories..

From FinancialDirector:
Is it me or has the world gone mad? I remember my history teacher telling me that you have to study history – "it's like studying the future. Everything is always replayed," he used to say. He also used to bang on about the Americans invading our precious traditions, and their empire building. Which of course, we taught 'em. Which digression brings me to online banking outfit egg, and its recent delisting of customers it deemed to have poor credit. Since it chucked 161,000 customers off its register, it has been revealed that a "substantial amount" of those customers are, in fact, in possession of good credit ratings. And no one was safe from the exodus: even a city worker who earned £1m last year and owns £100,000 in Citibank shares – Citibank is the parent company of egg – received the dreaded letter of poor credit.