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annual credit card charge
echo
Posts: 1,728 Forumite
in Credit cards
has anybody had this before.get letter from lloyds saying they will charge me £35 a yr for using it.the reason as yet is unknown ( cant find alternative number for 0845 yet) but the branch manager who i spoke to just now said it could be cos i havent used it for a while.dont use it v often but have it in case i do need it.i never go overdrawn and always pay off in full at the end of the month.they aint getting owt from me
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Comments
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They are getting from you as the merchants have to pay a percentage of each transaction of which some goes to your card issuer.
There was been a fair amount in the business press at the end of last year as most the CEOs of the big banks said that they believed that fee free banking was going to be coming to an end again.All posts made are simply my own opinions and are neither professional advice nor the opinions of my employers
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We just got our letter today, I think they will be charging us because we always pay the full balance every month. Does anyone have any info what you can spend the points you have earned on. Only have about 2000 but might as well use them up before I tell them I will not be using the card anymore.0
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I have a Trustcard and accumulated 2600 points which I had planned to use over the next 3 years (they expire in 2010) on their vouchers (Argos, J Lewis etc) scheme at 10% off face value. Am most miffed at having now to use them in the next 3 weeks!!0
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This is just the start of the banking revolution that will eventually see most of us yearly charges for credit cards and bank accounts I'm afraid. Since the Office of Fair Trading ruled that credit card companies would have to reduce their penalty charges for late and missed payments, the banks have been looking at ways to recoup what they laughingly call thier "losses" - although in reality, they are still making more profits than ever.
It has only been a matter of time before one of them bit the bullet and started to charge. MBNA have said that they will be charging customers a £10 fee if their cards are in credit -This is my first post here so I'm not sure what is or isn't allowed in terms of links but this is to the bbc website.
http://news.bbc.co.uk/1/hi/programmes/working_lunch/6376405.stm
People will obviously start cutting up credit cards and moving to other companies. Whether the extra business will pursuade those companies to remain annual fee free is yet to be seen.0
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