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Texaco Change of T&Cs
Cardinal-Red
Posts: 664 Forumite
in Credit cards
Got an e-mail from them and none of them seem too burdensome but look at this one:
14.7 We may make payments due to us by you from current or savings accounts you have with Lloyds TSB where those payments are overdue.
Does any other card have such a condition??? Don't think I've ever seen one before.
14.7 We may make payments due to us by you from current or savings accounts you have with Lloyds TSB where those payments are overdue.
Does any other card have such a condition??? Don't think I've ever seen one before.
The above facts belong to everybody; the opinions belong to me; the distinction is yours to draw...
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Comments
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Very difficult in practise as they have no 'lien' over any balance on any account with LTSB or any bank for that matter.They only have authority to debit an account that you set up a direct debit for.
Send a copy of the terms and conditions to the office for fair trading or trading standards for confirmation of this - the terms are unenforceable.
Eric0 -
Well I doubt they're unenforceable if you agree to them. Granted changing them retrospectively would be, but I imagine new customers would be bound, i.e. we give you this card if you agree that we can automatically debit your account should you default.
An interesting development if it is, but easily got around if needs be of course.
Just the first time I'd ever seen such a clause.The above facts belong to everybody; the opinions belong to me; the distinction is yours to draw...0 -
Texaco are a brand of Accucard, owned by Lloyds TSB. I have a feeling that other banks say this too of their own credit cards (I think when I had a Halifax CC a couple of years ago they said the same thing about any Halifax accounts, although I don't have the T&Cs to hand so I can't check).
Once they've notified you of the changes to the T&Cs then I think by continuing to use your card you show that you agree to the changes.student100 hasn't been a student since 2007...0 -
But has this been tested in court?
A credit card is unsecured lending.
For there a 'lien' to exist the customer would have to SIGN to accept it. IMO merely stating it in the T&C is insufficent to make it binding.
Just my opinion.I'm not a lawyer.
Eric0
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