texaco card is closing??

shredder · 15 April 2006 at 9:22AM

recieved this letter from texaco i currently have the 3.9% for life card

after consultation with us.Lloyds Tsb,our credit partner,has decided that they no longer wish to offer a credit card in conjunction with texaco.
Consequently the texaco branded credit card will be replaced with a Lloyds tsb card on 30th june 2006

new term and conditions to follow

spoke to texaco and asked what rate the new card was and thay couldn't tell me.will have to wait.better be the same or theres trouble ahead

boots_babe · 15 April 2006 at 10:41AM

Same here. Not best pleased as I've only had my LOB for a year and was planning to pay it off over the next 3 years. Only just applied for new 0% cards too so not a good time to be applying for anything else

Have just looked on LloydsTSB site, and they currently don't offer anything along the lines of a LOB, so I'm guessing either they will offer us just a normal card, or *maybe* a LOB but prob not likely to be anywhere near as good as Texaco so will cost a lot more.

Not at all happy that they offered a life of balance which has turned out to last for only a year.

Martin, is there anything you can do to try and get us a good deal, there are lots of MSErs who took this deal up and now we're all in a bad position. I'm sure you could work your magic!

champx70 · 15 April 2006 at 11:06AM

I've just received this notification too.

Sign up for a life-of-balance card, and a year into the agreement they withdraw the card and change terms and conditions.

Guess we have to wait and see new terms offered.
But I doubt they will be as good as the old ones.

jonesMUFCforever · 15 April 2006 at 11:06AM

Ltsb have a life of balance card at 7.9% I think

GeordieLad_2 · 15 April 2006 at 12:42PM

Lloyds TSB have an "Internet-only" Advance Card, which has a 5.5% LOB, And a 2% transfer fee.

I'm in the same boat as the other posters and obviously we'll have to wait and see what happens, but I hope the terms won't be any worse than this. And hopefully no fee! Are there any precedents for this kind of situation?

sandra120000 · 15 April 2006 at 12:46PM

I have one of these cards too with the LOB. Am waiting for the Lloyds TSB letter to arrive.

pinkfluffybabe · 15 April 2006 at 1:05PM

I've not had this letter yet, it a poor show though. I already have the Lloyds 5.5% LOB so not sure how that will work. Hopefully Martin can maybe find out more for us?

MSE_Martin · 15 April 2006 at 2:38PM

This is despicable behaviour on behalf of Texaco and more importantly Lloyds TSB. Thanks for lettting me know. I will be calling it on Tuesday to find out and will try to lobby it against such a change.

Money_Man_Steve · 16 April 2006 at 1:04PM

I received the letter too, although there's no concrete news of what will happen to the LOB deal. The letter states:

"You will receive notification from LTSB in the next few days setting down the important changes to T&C's on your credit card account... including details covering cardholders who elected to pay a fee on their card, those who have a lifetime balance offer and those on the Cashback programme... Of course you are not obliged to use the new LTSB card if you do not wish to but we felt that it was important you are given a fair alternative..."

The letter also states that the replacement of the card will be on 30th June, so there's still time to get clarification before making any rash decisions.

No hint as to whether you can continue with the existing T&C's if you do not take the new card. I shall be keeping a keen eye out for the letter and reading it carefully!

Money Man Steve

Mrsbojangles_2 · 16 April 2006 at 10:56PM

Yes, we had a letter too, we had the lifetime deal and are now very worried what will happen. Really hoping you can work a miracle here Martin, (no pressure of course) wink smiley!!

RickyTBRidge · 17 April 2006 at 7:32PM

I've got my letter Thursday, what a great day to break the news just before Easter therefore not having to deal with complaints for a few extra days. I hope you get to the bottom of this quickly Martin so I can start looking around again.

texaco card is closing??

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free