Lloyds TSB Backup card ... a warning

the_gorgeous_one

I went into my local TSB on Friday to deposit a cheque and was asked to see the salesman (that is the only way i can describe him) to review my account. I thought why not see what he has to say. He talked to me about if my debit card was faulty and said I would be better having a 'backup card' as it would save any potential embarrassment. It really felt like the hard sale while he made it sound so simple. It was only when he said it had to be paid in full at the end of every month that I asked if this was a credit card to which he responded it was. He was so surprised when I said no thankyou. He said isnt it funny whenever I mention the backup card people think this is a good idea, but as soon as credit card is talked about it is suddently cold feet. Even when I explained I am trying to get out of debt and am no good with money he said this could actually help me to budget..
TSB robbers. I just thought I would let people know of this scam.

david39

I don't understand the use of the word SCAM or ROBBERS.

You were offered a facility that the bank provides, you declined and you walked away.

That's fine - they didn't try to rob you and credit cards are not a scam. As long as you understand how to use them sensibly, they are a useful tool in handling finances.

I see from your signature that you have had money problems in the past and that you are clearing your way out of them so, in your case, a credit card may not have been a suitable choice as a back-up for losing your debit card - so well done to you for declining it.

Perhaps opening a small savings account (with access from a cash machine) and keeping a nominal sum in it would be a more suitable alternative if the conversation in the bank has alerted you to how an emergency could arise.

th081

I also get asked if i want to "review" my account every time i go into my back or asked if i have a natwest card every-time i pay my credit card. while the staff have targets to meet this is one of the reasons people have so much debt, it so easy to get into the cycle. I get free insurance when i purchase a electrical product with my debit card, i phoned up to register my tv and straight away the girl went into a spiel about extending the warranty to 5 years for only £109, see almost seemed disappointed when i told her the tv came with 5 years warranty.

They are not far from scams the banks, £20 interest/year to borrow £100 typically, it would be more honest if they called it "vig" like in get shorty !

paulmcerlean

cant see how they were being robbers by selling you a credit card. strange.

opinions4u

It was only when he said it had to be paid in full at the end of every month that I asked if this was a credit card

Judging by your signature line, perhaps it would have been good if you'd received advice similar to this a few years back.

Black Horse 10650.69, Everyday Loans 5902.21, HFC 376.30, Barclaycard 2500, Capital One 1000, Halifax o/d 3200, Next 200, Littlewoods 40.00(paid off), HFC 120.00 (paid off) total debt 2349.20

TSB robbers

You need a sense of reality. On more than one occasion I've been on the wrong end of an armed robbery. The robbers never attempted to sell me a credit card.

jen245

OP I think you've missed a zero off on your total, as all of that debt does not add up to £2349.20! :eek:

Rupert_Bear

the_gorgeous_one wrote: »

I went into my local TSB on Friday to deposit a cheque and was asked to see the salesman (that is the only way i can describe him) to review my account. I thought why not see what he has to say. He talked to me about if my debit card was faulty and said I would be better having a 'backup card' as it would save any potential embarrassment. It really felt like the hard sale while he made it sound so simple. It was only when he said it had to be paid in full at the end of every month that I asked if this was a credit card to which he responded it was. He was so surprised when I said no thankyou. He said isnt it funny whenever I mention the backup card people think this is a good idea, but as soon as credit card is talked about it is suddently cold feet. Even when I explained I am trying to get out of debt and am no good with money he said this could actually help me to budget..
TSB robbers. I just thought I would let people know of this scam.

By your signature it looks like banks have really given you the hard sale. You need to be more assertive and say no.

the_gorgeous_one

I was just putting this information on here to warn others. The salesman talked about a 'backup card' I thought he meant it was a 2nd debit card in case I lost my first one or it was faulty, this is how he talked about it. If he had said it was a credit card I would have said thankyou but no thankyou. He only admitted it was a credit card when I asked and as so many eagle eyed commenters have pointed out I have had financial problems that I am sorting out. When I told him I was trying to manage my debt and not get into credit cards etc he continued to try and persuade me to take out the credit card. A lot of people may be able to limit their spending and be sensible with money. I am in the process of learning and was surprised he continued to try and push despite me saying no thankyou, he made it sound very tempting and I am aware I am not the only one who is in financial problems. I am in the lucky position of still being in work therefore being able to pay back my debt. Others are not so lucky. Im sure others would be sucked in by this line of selling so I wanted to kindly give a warning and blow off some steam. Thankyou for all your responses whether Iwound you up by my terminology of robbers and scams. Perhaps you are bankers so I apologise if I hurt your feelings.

Fiddlestick

the_gorgeous_one wrote: »

Perhaps you are bankers so I apologise if I hurt your feelings.

That or we read things before signing them?

Not that I would imply that salesmen are ever anything less than 100% honest of course.

paulmcerlean

Nope I am not a banker. I just dont think my bank are trying to rob me by asking me if I want a credit card.