lloyds platinum credit card

dingdong2

LOYDS PLATINUM ONLINE CREDIT CARD DEAL

Be very wary of this offer, filled it all in online for my mother only to find out that they only gave her £1500 credit limit. Which makes it impossible to transfer balances of £1500 or more to qualify for the 1.5 percent fee reduction. Now they could have given her a limit of say £1600 which would have made it possible.

IT IS MISLEADING AND WRONG AND HOPEFULLY THEY MAY GET IN TROUBLE FOR THIS......

bengalknights

The minimum limit on the card is £250 so it isnt really misleading, the credit limit would be based on the criteria that they score you to.

dingdong2

it is misleading as they offer it as giving you 1.5% fee back but this cannot happen if they give you a credit limit of just £1500

Fiddlestick

dingdong2 wrote: »

it is misleading as they offer it as giving you 1.5% fee back but this cannot happen if they give you a credit limit of just £1500

Subject to status, yes.

I still don't see what's misleading.

Was it not in the terms and conditions that they would give you a credit limit subject to status?

dingdong2

It may or may not say subject to status, but when you do it online they ask you what balances you want to transfer, then they give you a low credit limit, and automatically transfer the smallest amount from one of the cards, so they basically trap you, unless you are prepared to pay it off and close the account, this was all misleading and not the sort of hastle a 73 year old should be put through....

What they should do is inform you that you are not going to qualify for the 1.5% discount and then let you deceide if you want the card, not just go ahead with it leaving you to pay te 3% fee.

Perhaps some of the posts about this are from employers of lloyds tsb

Fiddlestick

dingdong2 wrote: »

It may or may not say subject to status, but when you do it online they ask you what balances you want to transfer, then they give you a low credit limit, and automatically transfer the smallest amount from one of the cards, so they basically trap you, unless you are prepared to pay it off and close the account, this was all misleading and not the sort of hastle a 73 year old should be put through....

Fundamentally it DOES tell you that the credit limit would be subject to status in the terms and conditions, and being 73 is no excuse for not reading them.

Perhaps some of the posts about this are from employers of lloyds tsb

I am not an employee of Lloyds Banking Group and my advice would be the same no matter who the lender was.

fozmcfc

dingdong2 wrote: »

What they should do is inform you that you are not going to qualify for the 1.5% discount and then let you deceide if you want the card, not just go ahead with it leaving you to pay te 3% fee.

It's not often I think someone makes a good point, when they post posts like this, BUT...........

I think this is a valid point if someone is only applying because of the 1.5% discount, then if they are not going to be eligible for it, then they should be given the option before further action is taken by Lloyds.

It is clear that they are trying to attract people to apply, by advertising the 1.5% discount, so therefore I think it is right they should check with the customer before proceeding.

Either that or there should be a text box to check on the application, to say if we don't give you a higher enough limit for the 1.5% discount, do you wish us to proceed anyway or contact you beforehand.

dingdong2

well said that last post....it is a trap...and thanks for a bit of support..

MURPHY21

I applied for Llloyds Platinum card and balance transfer of approx. £3000 in October 2011 thinking I would get a refund of half the fee paid.
I saw no refund, so I queried this with Llloyds. I was told it was for new applicants only. There was no mention of this being restricted to new customers. (I have just checked again on other websites and none menbtion 'new customers'.
Has anyone else been refused the refund on these grounds?

Fiddlestick

You should probably ask your query in a new thread rather than reopening one that's 4 months stale.