Cancelling a good financial arrangement.

[Mr. B A DEGG]

Quite a few years ago, I managed to persuade a complete stranger to let me lend him some money. Needless to say, I had to give a few inducements for him to choose me to do this instead of anyone else!. This took the form of a year free of interest and various concessions on the other products I could offer. The arrangement was that he was to make regular re-payments but could always take further credit to the limit of the original amount.

Over the years he has always kept to the arrangement religiously - always making the payment on time and in general being as good as gold. However, recently my American cousin said I should re-think the arrangement and look back to his financial standing of many, many years ago before I had any dealings. This I did and then told him I was cancelling the arrangement forthwith.

He was rather disgruntled and complained I was being unfair - something the newpapers agreed - but I am standing firm and dismissing his good record with me as of no consequence at all. What do you think I should do now.

[factor-fiction]

Sorry, I don't have a clue what you are talking about.
Should this be in the Riddles section? Have I failed to spot a clever hidden reference to a topical news story?

[Postdog]

Gotta be a wind up. As if people need to coerced into borrowing money.

[SlackAlice]

The author's name say's it all!

[factor-fiction]

Got it now. This is an attempt at a 'witty' reference to egg's decision to close some customers' credit card accounts. It may be inconvenient but of course credit card providers are under no obligation to keep accounts open, just as customers are not forced to stay with a financial services provider and egg banking customers may now choose to move elsewhere. I think egg wil end up with, erm, egg on its face.
Try smile or cooperative bankf- lying high in Watchdog poll of customers and ethical too.

[SlackAlice]

eggxactly

[buildersmate]

I think you should remind him that he makes about 2% on every transaction you provide him with, which sounds like quite a lot of money. And that you'd much prefer to pay cash if you could get that same 2% from the retailer. But because he's managed to set up a cartel with all the retailers they won't play ball. So you much prefer to use the CC,
So if 2% isn't enough for him, you will go elsewhere and find someone else who is happy with the figure.

[daginge]

I should quit lending him any money at all! Don't have any dealings with him again in fact, he sounds quite a cad!