Lloyds TSB Airmiles Duo Credit Card Account??

jooliona

can anyone tell me how long this product has been in existance?

i think it has been pushed on my unsuspecting father and i am trying to convince him that he doesn't need it.

on the lloyds mastercard he was initially given a credit limit of £15k but this was subsequently reduced to a mere £1000. he has not spent a penny on this card as yet to my knowledge and the balance is zero.

the only spend on the amex card is for PPI as far as I can gather(alarm bells!) and this card carries a £125 annual fee! plus as stated by others the balance on this card has to be paid in full each month so there does not appear to be a "limit" as such.

i don't see why he has to pay £125 pa for the privilege of having a credit card which he only uses to pay their PPI premiums - besides which he has been retired for nearly 2 years (and was at the beginning of this agreement I assume) therefore I think he has been mis-sold the PPI as well as the credit product itself! I just put together a PPI claim for him using the MSE template but have also found out that Lloyds are now trying to put a kybosh on any new claims. Great timing!

knightfox

Just use the card for monthly expenses then clear it each month. Saving the money in the bank to keep interest.

knightfox

jooliona wrote: »

can anyone tell me how long this product has been in existance?

i think it has been pushed on my unsuspecting father and i am trying to convince him that he doesn't need it.

on the lloyds mastercard he was initially given a credit limit of £15k but this was subsequently reduced to a mere £1000. he has not spent a penny on this card as yet to my knowledge and the balance is zero.

the only spend on the amex card is for PPI as far as I can gather(alarm bells!) and this card carries a £125 annual fee! plus as stated by others the balance on this card has to be paid in full each month so there does not appear to be a "limit" as such.

i don't see why he has to pay £125 pa for the privilege of having a credit card which he only uses to pay their PPI premiums - besides which he has been retired for nearly 2 years (and was at the beginning of this agreement I assume) therefore I think he has been mis-sold the PPI as well as the credit product itself! I just put together a PPI claim for him using the MSE template but have also found out that Lloyds are now trying to put a kybosh on any new claims. Great timing!

I am not sure when they introduced this card. However there is a thread on here to the beginning of 2009 talking about it.

Any

jooliona wrote: »

can anyone tell me how long this product has been in existance?

i think it has been pushed on my unsuspecting father and i am trying to convince him that he doesn't need it.

on the lloyds mastercard he was initially given a credit limit of £15k but this was subsequently reduced to a mere £1000. he has not spent a penny on this card as yet to my knowledge and the balance is zero.

the only spend on the amex card is for PPI as far as I can gather(alarm bells!) and this card carries a £125 annual fee! plus as stated by others the balance on this card has to be paid in full each month so there does not appear to be a "limit" as such.

i don't see why he has to pay £125 pa for the privilege of having a credit card which he only uses to pay their PPI premiums - besides which he has been retired for nearly 2 years (and was at the beginning of this agreement I assume) therefore I think he has been mis-sold the PPI as well as the credit product itself! I just put together a PPI claim for him using the MSE template but have also found out that Lloyds are now trying to put a kybosh on any new claims. Great timing!

If he hasn't spent anything on that card, what is he paying PPI on? It is usually applied to a balance at the end of the month.. Let's say 79p for every £100.. so if he hasn't spend on it there should be no PPI?

Don't understand, then you say the balance is paid in full?

And it won't be the LLoyds Airmile credit card, as that one doesn't have an annual fee. You need to have a look into this a bit deeper as with wrong info the bank will fob you off.

There is NOTHING wrong with having a card for emergencies. As long as you can manage it efficiently. You can cancel the PPI independently from the card, it is usually provided by someone else or by different part of company anyway.

However you need to have a look into that fee...
There is no reason to pay annual fee on your card. The market is big enough to choose card without fee.

P.S. Just checked and the Premier Duo has £50 annual fee if you don't have premier current account. So I appologise I didn't know that. However normal Lloyds duo doesn't have any annual fee.

sscott5581

This card has been on the go since at least late 2005, my mum got the card back then.

jooliona

Any wrote: »

If he hasn't spent anything on that card, what is he paying PPI on? It is usually applied to a balance at the end of the month.. Let's say 79p for every £100.. so if he hasn't spend on it there should be no PPI?

Don't understand, then you say the balance is paid in full?

And it won't be the LLoyds Airmile credit card, as that one doesn't have an annual fee. You need to have a look into this a bit deeper as with wrong info the bank will fob you off.

There is NOTHING wrong with having a card for emergencies. As long as you can manage it efficiently. You can cancel the PPI independently from the card, it is usually provided by someone else or by different part of company anyway.

However you need to have a look into that fee...
There is no reason to pay annual fee on your card. The market is big enough to choose card without fee.

P.S. Just checked and the Premier Duo has £50 annual fee if you don't have premier current account. So I appologise I didn't know that. However normal Lloyds duo doesn't have any annual fee.

the amex card my father has on this deal (including a Mastercard, hence "Duo") has a £125 annual fee, I saw this on a recent statement with my own eyes. i can scan it in if you do not believe me?! he has several accounts with lloyds already so to me this just seems like they have pushed this product on him which he doesn't really need, purely to make money from the annual fee and PPI charges. He already has 3 other credit cards, each with significant credit limits! the PPI is a monthly charge of approx £15 each month applied to the amex card then squared away by direct debit, even when there has been no other spend on the card!? dodgy methinks?!