Lloyds tsb changing fron VISA to Mastercard

iceicebaby

I received a letter from LLoyds TSB today regarding my platinum Visa credit card.

The letter states that they have a new partnership with Mastercard and that my Visa card will be replaced with a Mastercard when it it's due to expire and they are no longer going to be issuing visa cards.

They have offered me a 3 month 0% offer on all purchases and a 9 month 0% balance tranfer (3% fee)

There doesn't seem to be an option of remaining with the current VISA card.

As I will be getting a better deal moving over to the mastercard I am not too bothered, however I wondered whether anyone else has received this letter and any thoughts about this?

Edited to say - all other t&c's such as the apr etc remain the same

Thanks all

jamalfatty

Wouldnt bother me at all, used to be the case that some places favoured Visa over MC and vice versa, but nowadays, if they take one, chances are they will take the other.

Wont make a difference at all and your getting some decent rates for a period so stick with it i'd say.

thecotswolds

LTSB have signed an exclusive deal with mastercard and are replacing all VISA credit cards with m/c this year. Still offering AMEX and all debit cards will remain with VISA.

I assume it is saving them money on having the VISA credit card licence.

King_Of_Fools

Halifax did the same thing last year but offered 9 months 0% on purchases.

makfai

I have just been told the same. I will get an Am Ex and a Master Card to replace my one VISA card.

I was given an Am Ex a few months ago by LTSB in addition to my VISA but binned it as I found the places I normally used didn't accept it.

I cannot say that I am happy with this. I find it a bit high-handed for a third party to decide to which company I should entrust my debt Some consultation would have been nice from a 'caring' bank.

Hazzanet

makfai wrote: »

I cannot say that I am happy with this. I find it a bit high-handed for a third party to decide to which company I should entrust my debt Some consultation would have been nice from a 'caring' bank.

The debt remains with the same company, it's just the company that processes the payments on their behalf has changed. MC and VISA are just companies that provide the payment infrastructure.

youknowwho

makfai wrote: »

I have just been told the same. I will get an Am Ex and a Master Card to replace my one VISA card.

I was given an Am Ex a few months ago by LTSB in addition to my VISA but binned it as I found the places I normally used didn't accept it.

I cannot say that I am happy with this. I find it a bit high-handed for a third party to decide to which company I should entrust my debt Some consultation would have been nice from a 'caring' bank.

I dont want to sound nasty but its not the end of the world is it? Your making out that they have done something completly under hand! All they are doin is switching their provider! in the middle of doing that they are giving you special offers to make it worth your while to! Say for example you ran a business, and your current provider was not as good as an up and coming one, would you stick with ur old one, or would you switch and move on with the times.

They have consulted you otherwise you wouldn't know.. If you ring them ujp then they will probabaly revert you bk to visa.