Tarts beware!

BMW_3

Hi All,

I have a Lloyds TSB Trustcard which I have been using to move balances around occasionally. I currently have a zero balance on it.

I have just received a letter from Lloyds TSB stating "On looking at your Lloyds TSB Trustcard account, I have noticed that you haven't been using it as a credit card. In the circumstances, I hope you'll understand that we won't be renewing the card when it expires, unless you ask us to."

Are they trying to stop people transferring balances around (and sensibly NOT using the card for spending)? Has anyone else experience of this happening?

Is this just the beginning of a clamp-down on tarts? :eek:

prenticesa

I'm assuming that you are out of any intro rate, and that you are simply using the card as a mule to move balances around. If that's the case, they're always likely to object if and when they ever review your account (which they obviously have in your case).

I'd suggest you use the card for small purchases occasionally, making sure to pay it off in full of course.

nh

But they don't say they won't renew it, they just say that they won't unless you ask, which I think is common practice. I am sure if you wanted to renew they would let you.

oscarhugo

"we won't be renewing the card when it expires, unless you ask us to."

I think it's the "unless you ask us to" that's important. Better ask!

smartsaver

Can't see a problem really. I would do as advised and use for small purchases then pay off in full and be sure to ask them for renewal when the card expires.

klondyke

Seems reasonable in view of number of cards intercepted in post. If you were not expecting it, because you don't normally use it, you might not know it had gone missing. (Just a thought,)

Walletwatch

Might be part of the Anti-Money laundering drive from the Bank. After all, this is one area that is gaining in importance these days in the Banking fraternity. Lots of traffic on one's account without any genuine purchases could well be interpreted as money-laundering activities

I do agree with others though - just ask them to renew the card when it comes up for expiry. if you want, ask.

BMW_3

Thanks guys - your advice is appreciated. :beer: