New Lloyds Club current account

GingerFurball_2

You'd get 4%, not 5.

LittleVoice

Gers wrote: »

I've given up hassling Lloyds to merge my profiles! As I can see the new Club account and monthly saver on one profile and can send money back and forth I have decided to stop being anxious about it.

Yesterday my Club debit card, PIN code and activation code all arrive in separate envelopes in the same postal delivery. So much for security.

Hey ho....

Have you actually sent money from the Club Monthly Saver to the Club Lloyds current account?

Were you planning to put in the maximum £400/month into the Saver?

Gers

LittleVoice wrote: »

Have you actually sent money from the Club Monthly Saver to the Club Lloyds current account?

Were you planning to put in the maximum £400/month into the Saver?

Not got anything in the monthly saver yet! Have set up the standing order for the £400.00 a month into it.

Sent money in and out of the current account. Got three vantage and one club current accounts. Going boggle eyed keeping up with all the new accounts everywhere....

iAMaLONDONER

frank777 wrote: »

Just make sure you spend more than £1.50 a month, I nearly got caught out by Tesco CC, :(they didn't bother to charge my DD, said it would cost to much, that was over a year ago! I now use it for Saturday/Sunday Paper once a month, :)not missing out on my 4% cashback with my Luma CC

Did they threaten to put a mark on your credit report?

Herbalus wrote: »

I heard about this. It's a tough choice. A free packet of biscuits every month because the CC company won't process the statement, or a working DD and two packets of biscuits that I have to pay for...!

YorkshireBoy wrote: »

It's been around for years on RBSG cards (Tesco still runs on their systems I believe)...they call it 'small balance write-off'.

Seriously? So do they just write of a balance of less than £1.50 as the cost of collection outweighs the benefit?

What if too many people take advantage of this?

MABLE

iAMaLONDONER wrote: »

Did they threaten to put a mark on your credit report?






Seriously? So do they just write of a balance of less than £1.50 as the cost of collection outweighs the benefit?

What if too many people take advantage of this?

Every month I pay off my card manually and deduct £1,25 and when the statement online is produced it just shows as a small balance write off. As Tesco would say every little helps!

Hominu

MABLE wrote: »

Every month I pay off my card manually and deduct £1,25 and when the statement online is produced it just shows as a small balance write off. As Tesco would say every little helps!

Same here. I have a DD setup for the full amount (just in case the T&Cs change), but pay off the statement balance minus £1.25 a few days before the statement due date. I call it the "Early payment refund".

jakesuk

Hominu wrote: »

Same here. I have a DD setup for the full amount (just in case the T&Cs change), but pay off the statement balance minus £1.25 a few days before the statement due date. I call it the "Early payment refund".

This is actually brilliant. £15/year - just think what that could go towards.

Do any other CC companies have similar attitudes to writing off small debts?

YorkshireBoy

jakesuk wrote: »

Do any other CC companies have similar attitudes to writing off small debts?

See my earlier post. The 'G' in RBSG stands for 'group', so there's a clue for you.

TheEffect

For those who have opened this account, did you receive a Contactless debit card?

Does Lloyds issue Contactless as standard, or is it dependent on credit rating?

marvin

My reading of the T&C's is that only the interest rate is dependent on two DD's the rest is dependent only on £1500 a month going in the account.

Is this right?

Referring to this bit

"Earn monthly tiered interest on your balance - 1.00% AER/1.00% Gross variable on balances from £1 to £1,999.99, 2.00% AER/1.98% Gross variable on balances of £2,000-£3,999.99 and 4.00% AER/3.93% Gross variable on balances of £4,000 to £5,000, when you pay at least 2 different direct debits from your account each calendar month: Interest is paid monthly. The interest rate applies to your whole balance up to £5,000. No interest is paid on amounts over £5,000."

and this bit
"As long as you pay £1,500 or more into your account each calendar month, we’ll waive the £5 Club Lloyds monthly fee. If in any month you do not pay in this amount, you will need to pay the £5 monthly account fee."