Lloyds TSB airmiles duo balance transfer con

Triponi

Lloyds TSB airmiles duo is currently listed as one of the best buys for balance transfers. I'm just wondering however if they are pulling a bit of a con after my experience?

I signed up and was accepted no problem, hoping to transfer across £2000 at a 1.5% fee and getting 1,500 air miles in the process. However my credit limit was set at only £1500 (despite telling them of my balance transfer request in advance). Now, in order to be eligible for the 1500 air miles, and to be charged a fee of 1.5% rather than 3% you must transfer at least £1500. But as they require a minimum 5% "buffer zone", the most I could possibly transfer was £1425 - i.e. With a 3% fee and no airmiles.

There was no realistic hope of me increasing my credit limit for six months, by which time all the offers would have expired. I was told on the phone that I actually had quite a good credit score (and I do) and so the £1500 limit was quite high and most people get a lot less. I cancelled the card there and then.

Now this might just be a massive coincidence, but I was left with the distinct feeling that Lloyds TSB deliberately set the majority of initial credit limits at the £1500 level or below. That way they can have all the positive publicity from MSE and others, but they very rarely have to make good the Airmiles or balance transfer fee offer because the credit limits they set are too low. They can then hide behind the on a "on a case-by-case basis" mantra to avoid fraud/mis-selling.

Anyone else have a similar experience? Is this a new cynical way of manipulating the system?

Triponi

OllyM

I know this wasn't really the point of your post but the Airmiles card has a rubbish balance transfer offer on it, 0% for only 6 months. The Platinum card is one of the better buys with 0% for 14 months. Sounds like you've applied for the wrong card, although I doubt you would have got a better limit on the Platinum card.

Triponi

I can clear £2000 in 6 months. Hence the 1.5% fee (rather than the 3% on the Platinum), and the bonus 1500 airmiles (free zone 2 flight) means the Llyods Duo was the best balance transfer deal for me. I'm afraid OllyM that your post was therefore both off topic and incorrect, but thanks for reading anyway!

kerber0s

I used to have a Lloyds TSB Airmiles Card - when i applied i only got a £1500 limit the same as you, I only needed to transfer 950 so it wasn't an issue for me. But when i spoke to them a while after about increasing my limit and mentioned it was low i was told that because i wasn't a Lloyds TSB Bank Account holder the most they will give is £1500 - if i had a Lloyds Account it would have been £4000 straight away and if i took there bank account there and then the credit limit would go straight . I think it is a con to get people onto their bank accounts, needless to say i have cancelled the card and am never touching another Lloyds product again as to top it off the customer service was useless as well.

biganni

I was given a credit limit of £2500...but hot on the heels of that letter was another saying they couldnt complete the balance transfer????:mad:

Will be phoning to register the card tomorrow night.. if no joy, I'll just get them to close it.

SwindonLad2011

Hi Guys,

I signed up to the TSB Do cards hot on the heels on seeing the promotion advertised on this forum.

I have now received my cards, but can't find the original article saying that 1500point were available for the £1500 balance transfer.

Can anyone send me a link to the original article...please

TSB are now only showing 150points..not 1500, and you get a 500 points bonus for spending £10 in 1st 3 months..!!! bit of a difference.

My card limit was set at significantly higher than £2k.

Thanks all.

bigstevex

£2k limit here, was expecting a lot higher!

Pax45

Swindonlad:
The details of the offer can be found if you look back at the MSE weekly email of 11 May- the archive is available on the website.
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I too have received my Airmiles Duo cards (with a credit limit of £2000) today after applying on 11 May, i.e. just before the offer deadline of 12 May.

The leaflet that my cards came with does not mention the £1/1 mile or £1500 transfer/1500 miles offer. I spoke to Lloyds about this earlier today when I was activating the card, and whilst they were vaguely aware of this offer, they were very hazy about the details and they basically just suggested I give the balance transfer a try! (I'm slightly reluctant to do so without a bit more information.)

Is anyone in the same situation, but has tried it out and it has worked?

ponymad_3

Guys the offer is/was a geniune deal.... If the offer fits in terms of the limit you should get the awarded miles.. If not I am confident that our card services customer care team will sort out. (as you prob can tell I work for LTSB)