LTSB raising Annual Rate on Platinum Card

Blue_Lou

I've just received the following letter:

Dear Mr Blue Lou,

We are making an important change to your platinum card conditions which may affect the way you manage your account. So please tale a few minutes to read through this important information.

We are charging the monthly interest rate on your cash advances to 2.075% (24.900% Simple Annual Rate). You will find your existing monthly interest rateson your most recent statement. This change is made under condition 17.1 of your Platinum Credit Card conditions.

The new rates will be effective from 2nd October 2006 and will be reflected in all statements from this date.

We would like to take this opportunity to thank you for being a Lloyds TSB customer.

Yours Sincerely

Jose Carvalho
Head of Cards Marketing

It looks like this will be closed shortly then

jonesMUFCforever

What is the APR on purchases?
You have only quoted for cash advances and it is normal to charge more for these.
LTSB are not acting in isolation - I have had letters from Halifax, MBNA & A&L advising me of higher rates. This has nothing to do whatsoever of course with people claiming 'unfair' charges on their badly run accounts.

_Andy_

My purchase rate was put down, had a letter today..not sure what the rate was as I binned the letter as I'm about to close the card.

MABLE

I have had the Platinum card but changed to the Advance card. Apr 11.9 and gave me same terms as if I were a new customer. 0% on purchases for 6 months and 5.5 life of balance transfer.

Blue_Lou

This is for changing the withdrawals from cash machines only. Sorry for any confusion.