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Lloyds Bank PPI Claim - Dodgy Old Bank Practices!
regency_man
Posts: 295 Forumite
Just a funny note on this. I had a Lloyds card when I turned 18 which I know I paid PPI on. I have disposed of all the paperwork however finally Lloyds have returned me the details of the account.
When they sent the details I noted that they listed the 'active' dates of the credit card account as being opened 1/7/2003. This didn't seem right, but I couldn't work out why.
Later on I realised that it didn't seem right because that means the account was opened several days before my 18th birthday. So I called Lloyds to inquire about this and they responded that the date was correct as far as their systems were concerned.
So I was left scratching my head somewhat as to how I could have opened a credit account prior to being 18 and happened to mention it to my dad.
He started laughing and said - absolutely yes, he remembered the details. Apparently Lloyds had sent me a mock 'birthday card' a couple of weeks prior to my birthday with a note inside congratulating me for turning 18 and that I could now apply for 'my first credit card' with Lloyds and that if I completed all the paperwork now, they could get me my credit card posted out so that I could start using it immediately the day I turned 18 to 'buy all the things I would need as an adult'.
Apparently my mother was furious when she found out. :rotfl: I was still in school, unemployed and out of nowhere I was given a £1500 credit facility.
Talk about encouraging people to borrow into debt!
When they sent the details I noted that they listed the 'active' dates of the credit card account as being opened 1/7/2003. This didn't seem right, but I couldn't work out why.
Later on I realised that it didn't seem right because that means the account was opened several days before my 18th birthday. So I called Lloyds to inquire about this and they responded that the date was correct as far as their systems were concerned.
So I was left scratching my head somewhat as to how I could have opened a credit account prior to being 18 and happened to mention it to my dad.
He started laughing and said - absolutely yes, he remembered the details. Apparently Lloyds had sent me a mock 'birthday card' a couple of weeks prior to my birthday with a note inside congratulating me for turning 18 and that I could now apply for 'my first credit card' with Lloyds and that if I completed all the paperwork now, they could get me my credit card posted out so that I could start using it immediately the day I turned 18 to 'buy all the things I would need as an adult'.
Apparently my mother was furious when she found out. :rotfl: I was still in school, unemployed and out of nowhere I was given a £1500 credit facility.
Talk about encouraging people to borrow into debt!
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Comments
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You said funny note?
Where is it?0 -
What about the PPI?0
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Why is this funny?
There is nothing at all wrong with credit for a 17 year old especially one about to turn 18, companies shy away from doing it as in certain circumstances the credit debt may be unenforceable. You are more typically given a debit card (Visa or Mastercard) to stop you spending money you don't have.
Also not sure why you think giving you a credit limit is encouraging you to get into debt, a card at 18, used responsibly would help you build a good credit history and give you certain protections in law like S75 cover for purchases. Certainly I don't remember getting my first card at 18 (£350 limit) and having a gun pointed at my head to start spending. Student loan money on the other hand...Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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