lloyds tsb platinum credit card charge

mickandy

I have the above credit card and the last time I used it for a purchase a small interest charge was added two days later. It is paid off every month and the charge was added before the statement was issued. I contacted the department at Lloyds who deal with credit cards but got no where as to why this charge was added.
Can anyone explain why this was done.:mad:

YorkshireBoy

LTSB are the people to ask (again).

However, have you purchased anything that could be classed as a cash transaction?

CLAPTON

what sort of purchase?

Ben8282

Odd. Interest is normally added when the statement is produced; not at other times during the statement period. The only thing that is added in the manner you describe is a cash advance fee.

mickandy

The purchase was 2 new tyres for the car,no cash advanced. They were purchased at a local garage.

mickandy

I have cancelled the card today as I can use another company that won't charge me if I pay off the balance every month as I do now.
Been with Lloyds TSB for over 50 years,nice to be treated as a valued customer !!!!

HoneyAndLemon

You have cancelled the card? Wow talk about jumping the gun. It sounds like it could have been an error, or possibly relating to something you bought or a withdrawal from your previous statement. You should have phoned again or gone into a branch.

50 years of building a relationship with them and you've thrown in the towel over something simple. Jeez

mickandy

I only took the card out in September and it has only been used twice. They slapped interest on the first time I used it. I went into the local branch where they rang credit card services and I spoke to a person who said it was the policy and there was no more to add,what else could I have done? The balance was cleared totally as I had only used it once previously.
I did not want to run up a phone bill when I was the innocent victim.

opinions4u

In previous months, have you had any cash transactions, currency transactions etc?

On the statements, is there any indication that your payments may have got there a day or two late?

While mistakes can sometimes happen, 9 times out of 10 it's something that the cardholder has done rather than something the card issuer has done.

There is probably a key piece of information missing from this story.

I spoke to a person who said it was the policy and there was no more to add

What was policy? What specifically?

HoneyAndLemon

I agree with Opinions4u, there is something missing from your story.

Its not just policy to add interest for nothing. Clearly its been added for some reason, or else they would have refunded it straight away and apologised for the error.

You must have done something to cause it to be applied.

Ben8282

I think I may have an answer to what has happened here. First of all, you state that the card is paid off every month. As the card was only taken out in September and you say that they slapped on the interest the first time you used it, at the time when this interest was applied you had in fact NEVER made any payment whatsoever to the card. I find it difficult to believe that the interest was added before the statement date and imagine the interest was applied at the time of your first statement. (I assume the interest was actually debited and you are not confusing an 'estimated interest' amount).

Reading the terms and conditions, I believe that to qualify for 0% on purchases you are required to pay the current statement in full and also to have paid the previuous statement in full. It would therefore appear that purchases billed on the very first statement would attract interest. After having paid interest on the first statement and paid the first statement in full, no further interest will be added provided you pay the second statement in full as well.

It's a shame that Lloyds/TSB staff in your branch were not more helpful/forthcoming/informative to somebody who had held a current account with them for over 50 years though. I'm sure you got much better treatment when you opened your account back in the 1950's!