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	Issue 80 - February 2008 Egg have just cancelled the credit cards of 161,000 customers. Whilst this looks like a customer relations disaster they could actually be doing some customers a favour. Many of the Egg card holders who are complaining loudly are those that consider themselves credit worthy because they pay their balances off in full each month. However, if you're one of these people you may find yourself much better off with a different card anyway. This week we look at the various types of credit card customer and suggest the cards that may be most beneficial depending on how they are used. Play Your Cards Right There's been a lot in the press over the last few days about Egg credit card holders who have had their cards withdrawn. A total of 161,000 customers have been written to which is 7% of their total credit card customer base. Egg have said that they consider these customers 'high risk' although many of the affected customers are complaining that they have never missed a payment and some even pay their balance off in full each month. Obviously only Egg really know why they have taken this action against a number of their card holders and they will have their own credit scoring systems to determine risk. However, it has led us to think about what you should do if you are one of the affected customers or even if you hold a credit card with another supplier. Egg are not the first credit card issuer to have taken this action and in the past other companies have acted in a similar way. In fact, with the 'credit crunch' really starting to bite it's a distinct possibility that other credit card companies will follow suit. However, if you're one of those people who have a good credit history and pay their balance off in full each month Egg could actually be doing you a favour because there are better cards available for you. In fact now could be a perfect time to review your credit cards no matter what type of customer you are. To help you with your review we've put together this short summary to help you depending on what type of credit card holder you are; I pay my balance off in full each month If this is you then you probably shouldn't be with Egg particularly if you were tempted by their 0% offers. To you, the interest rate is irrelevant and you should be looking for some sort of reward or cashback card. There are some great deals around at the moment that will actually pay you to shop. So, as long as you're disciplined enough to make sure that the balance is paid in full before the due date then you'll be in the enviable position of the credit card company paying you. Just remember a few cardinal rules - don't use your card to withdraw cash, don't use credit card cheques and watch out for charges if you use your card abroad. Read More >>> I always make at least the minimum payment but rarely clear the balance For you a 0% balance transfer card is a must. Transfer your balance to one of the cards offering 0% and you could save a bomb. However, if you still want to spend on your card it would be sensible to take out a second card for your spending and for this you need a card offering either 0% or a low rate of interest on new purchases. The reason you need two cards is that all credit card companies will divide your debt into segments depending on how the debt was incurred. Read More >>> Introductory Rate Credit Cards >>> Compare & Buy Car Insurance Banking & Saving Secured Loans Home Insurance Best Buys Travel Insurance 2 great reasons to review your live cover today. Go >>> Compare the market to find the best deal Go >>>     Compare 0% balance transfer cards plus many many more. Go >>> Get impartial advice from one of our experts Go >>> The American Express® Card Protect your purchases from theft or damage and add an extra year to the warranty! Find out more. spotlight on... credit cards MBNA Platinum Plus Typical 15.9% APR variable 0% on balance transfers until statement date in February 2009 (3% handling fee applies) 0% on purchases until statement date in May 2008 American Express Platinum Moneyback Typical 18.9% APR variable Time to treat yourself Enjoy up to 5% MoneyBack MBNA Rewards Amex Typical 15.9% APR variable 0% on balance transfers for 12 months 0% on purchases for 3 months mortgages Debtbuster Mortgages Start afresh in 2008 Clear your existing loans and credit cards With a remortgage Beech Finance Great Mortgage and Re-mortgage deals to suit all Nothing to Pay for 6 Months On Secured Loans Free Quote and dedicated specialist to help YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. insurance Protected We search over 300 insurance plans From 12 leading providers Compare your options online today in minutes banking & saving Halifax Websaver Extra Gives you a great online rate of 6.18% AER/6.35% gross Including 0.35% gross bonus until 18 July 2008 Apply Online Northern Rock Tracker Online 6.49% gross AER Easy access, simple online savings account Open account from £1. Apply Now homeowner loans Ocean Finance Need extra cash? Nothing to repay for up to 3 months Borrow £5k to £100k for any purpose. Apply today for a no obligation free quote All circumstances considered THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Moneynet is a trading name of Sterling Business Consultants Limited of Sussex House, 8-10 Homesdale Road, Bromley, BR2 9LZ. Registered office is 51 Eastcheap, London EC3M 1JP, Reg No: 03165711. Moneynet is authorised & regulated by the Financial Services Authority. This site is intended for UK residents only. Information correct at time of publication. Click here to unsubscribe from the Moneynet newsletter