What kind of people do credit card companies like to give credit cards to? People who always pay their bills? People who occasionally forget and pay a few days late? How about people who forget quite often, or can't afford to pay the full bill in one month?
Well, it looks like the last group is exactly who Egg want! They have issued notice to 7% of their customers informing them that due to their bad credit rating, their credit card is being cancelled with no right to appeal. According to a fair number of customers, they have excellent credit ratings and always paid their bill in full and on time. It looks like they're being dumped because they're just not profitable.
It's kind of ironic that the 'best' customers are the ones being dumped in favour of customers who may not actually be able to pay their bills.