Closing Bank Account - will I have to pay off CC

Snowedunder

Hi, after a disasterous year with Lloyds mishandling my current account I feel the time is right to move on.


I have a Lloyds Credit Card, so how will closing my Platinum Account with Lloyds affect this account.


Will they cancel the credit card and demand an immediate repayment. I have no problems with the card - always paid on time, except that my current account has 3 times now paid and then reversed my DD payment to my CC - each event was the subject of an official complaint against my bank account and each time it was upheld and I received a (small) amount of compensation and cancellation of charges.

thebritishbloke

I can't find any mention of the card only being for current account customers, so if you close your current account you should still be able to keep your CC open.

IIRC, CC's can't just "recall" what you owe them like they can with overdrafts, they still have to stick to the original payment agreements r.e. minimum payments etc. They could close your account, but your payments and interest would remain the same.