Lloyds TSB Platinum

Bargain_Rzl

I have banked with LTSB for 15 years (since I was 12) and have had their standard credit card since I was 18 (it started life as a student CC and evolved when I graduated). I've paid it off in full every month for the last 4 years or so, and I have a £3200 limit on it but don't really use it any more - it currently has a nil balance.

I'm considering cancelling the CC to maximise my stoozing potential elsewhere - do you think LTSB would then start offering me platinum cards with high limits? I currently have 4 other CCs, 3 for direct stoozing and 1 for 0% on purchases while stoozing, if you see what I mean. Highest limit is £5000 and I'm going to need a new home for this when my Egg card introductory period ends on 1st September, at which point it would also be handy to clear the balance on my purchases card (which by then is likely to be about £2500 of a £3500 limit, and I'd like to be able to continue using the card till the rate expires next March!)

Anybody with "existing customer" experience of LTSB care to comment?

spendaholic

This card is my latest new balance transfer card. It came with 6 months 0% interest on balance transfers, though, rather than 9 months, and I don't remember seeing anything about a fee, but the poster who said if you do it within 6 weeks there's no fee rings a bell. However, Misterholic got a letter off the bank regarding his existing Lloyds TSB platinum card, and they've said they charge 2% (min £40) BT fee for 6 months at 0%.

spendaholic

Bargain_Rzl wrote:

Anybody with "existing customer" experience of LTSB care to comment?

They've been ace with me ... but when you see my sig, they probably saw me coming!

However, it seems you get these good offers when they chase you for business rather than the other way around. I did have a Lloyds CC before, and cancelled it over a year ago, so that hasn't altered them offering me the 0% for 6 months now.

Lloyds was the only bank that would give me a chance over 10 years ago, when I had CCJs still outstanding or on my record, and they've been brill ever since. The good thing is, if you get a personal account manager they'll look after everything rather than you having to go to the loan dept for loan info or the CC dept for CC info, and so on.

EDIT: I've just checked and they are waiving the 2% BT charge for the first 6 weeks of the new account, but the 0% is only for 6 months.

Plasticman

spendaholic wrote:

EDIT: I've just checked and they are waiving the 2% BT charge for the first 6 weeks of the new account, but the 0% is only for 6 months.

The standard offer is only for 6 months at 0% but the leaflet that they sent me is offering 9 months. Thanks everybody for the info. I think that this will be my next stoozing card

spendaholic

Wish I could stooze. *SIGH* Maybe one day ...

Walshy

LTSB regularly send me an invitation to apply for their Platinum card, so when I finally decide to accept, I get turned down!

I have an excellent credit rating, but I suppose the recent £5000 stoozing from both Egg and Virgin didn't help.

I didn't bother appealing against their decision, so applied for Halifax's Cancer Research Card instead (0% for 9 months plus donation to Cancer Research). Been accepted, but they've only given me a £2000 limit.

mountainofdebt

He's had one of these letters through the post as well and I wondered what people's thoughts on his chances of success were.

I've closed down his Capital One, Natwest and MBNA Card (about £21K worth of credit) and now he only has his RBS card (£9K limit but balance £0), an egg card (£8.5K limit, balance £300) and a cahoot loan (£5K balance £4.2K)

He has recently been approved for a Texaco card (with a £2.5K) which we (or should that be I ???) was going to transfer some of the Cahoot loan as that's 8.9%. He's also applied for a M&S card again to trasnfer some of his balance to as that's 0% for 9 months.

Is it worth him applying now or would it be worth waiting a while (and if so how long?) so that the fact he's closed some accounts (and hence reduced his credit availability) is registered?

Chris2000

Bargain_Rzl wrote:

I have banked with LTSB for 15 years (since I was 12) and have had their standard credit card since I was 18 (it started life as a student CC and evolved when I graduated). I've paid it off in full every month for the last 4 years or so, and I have a £3200 limit on it but don't really use it any more - it currently has a nil balance.

I'm considering cancelling the CC to maximise my stoozing potential elsewhere - do you think LTSB would then start offering me platinum cards with high limits? I currently have 4 other CCs, 3 for direct stoozing and 1 for 0% on purchases while stoozing, if you see what I mean. Highest limit is £5000 and I'm going to need a new home for this when my Egg card introductory period ends on 1st September, at which point it would also be handy to clear the balance on my purchases card (which by then is likely to be about £2500 of a £3500 limit, and I'd like to be able to continue using the card till the rate expires next March!)

Anybody with "existing customer" experience of LTSB care to comment?

Phone up LTSB and ask for a higher limit!

I've also banked with them since I opened my student account in 1989, and my limit was stuck at £4000 for years as I wasn't really using it. About 3 years ago I asked for an increase to £7k which they gave me instantly, since then they have increased it twice without me asking and it's now £13k.

You can also upgrade to a platinum card and get 0% on balance transfers for 6 months, for all transfers made within the first 6 weeks. They will cancel your current card and transfer any balance to the new one, so make sure it has a nil balance first.