Lloyd's credit card can they give you a lower rate even when cards with them?

mrsbowie

Hi, just had a call from Lloyd's whom I have a credit card with, she said I've been flagged up to have my card looked at to see if she can get me a better rate, which would be good, but I always think there's a catch! I didn't think they could do this as in all the years I've been with them, its never happened before. Do you think its doable? She said worse case scenario would be that everything stays the same. Thanks

eskbanker

A bit of healthy scepticism can often be a good thing when assessing whether something genuinely is too good to be true but changing interest rates is perfectly feasible - these typically seem to be either the card company deciding unilaterally to increase the rate or reducing it at the request of the cardholder, but you never know.... Check what they come back with carefully, i.e. that there are no more onerous terms linked to a rate change, such as lower limit, higher minimum payments, etc.

thebritishbloke

Companies regularly do this (although it's moreso to make them higher!), nothing strange.