Lloyds Trustcard customers only have weeks to spend their points ahead of reward shake-up - MSE News

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  • delboyo
    delboyo Posts: 20 Forumite
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    Hi Aurora12 and all other about to be ripped off customers.

    I was hoping to use my points to put £600 towards a new camera or camera lens but not to have to pay Lloyds £5,400 before being able to do so.
    If it helps, I have had two long conversations with a "Customer Services" lady who has assured me this Rip Off is being considered by the Lloyds management, although how high up the food chain is not known.
    Whatever the outcome, Lloyds should be totally embarrassed and will no doubt lose thousands of customers as a result.
    Also no doubt, the management of Currys PC World, Argos, WH Smith and the other retailers in the scheme will not be happy about missing out on potentially millions of pounds of Sales - and just before Xmas !!
  • Aurora12
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    Well said, Delboyo!
  • jonesMUFCforever
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    This is such an old card that I honestly do not know a single person (apart from posters on here) that have collected or used these points.
    As for losing 'thousands of customers' and shops losing millions in sales as a result - Pleeeaaasssssee!
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    edited 24 November 2019 at 9:48PM
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    I must clearly be telling lies then?:!
    Well not lies exactly. But first you calimed to have been a Lloyds credit card customer for over 40 years then when it was pointed out that you would not have opened the account as a Trustcard account you said you had been a TSB customer prior to 1999 so it must have been a Trustcard then you advised that it had been swapped to a different type of card without your knowledge or consent meaning that when one day you received a Platinum Mastercard or whatever product you now have instead of the Visa Trustcard you didn;t notice and didn't read any correspondence and never noticed that your statements never made any reference to your points any more and never once in all that time wondered what had happened to your points or thought even once about redeeming them....
    Puffer wrote: »
    It is by no means unusual for one credit card to be replaced by another at the issuer's instigation (and without consultation)
    So if you had say a BA Amex to collect Avious and at renewal you received an Amex Nectar card to collect Nectar points without notice or consulatation, you would consider that acceptable, not even notice it and just carry on using it then several yars later complain about it and ask where your Avios were?

    To Jakiieb, Delboya and Aurora12 etc. You have had years and years to redeem these points. Now, after I don't know how many years of saving them up for whatever you were saving them up for, it is suddenly so important for you to redeem them. Why did you save them up for so long … you must have been aware of the redemption process and the fact that the points were redeemed for discount vouchers which would actually involve you spending money at the same time. You should have redeemed them for vouchers bit by bit over the years like everybody else and not accumulated so many..
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    Returning to the original MSN article, it states that the Trustcard reward scheme is changing so that Trustcard holders will be receiving 0.5% cashback in place of the rewards.
    This poses the interesting question of whether Lloyds are introducing this cashback simply for the benefit of the few remaining Trustcard holders or if perhaps Lloyds have a plan to introduce a new cashback credit card product at some point, bearing in mind that the current credit card offerings from Lloyds are pretty poor and unattractive now that the Amex duo cards are no more.
  • delboyo
    delboyo Posts: 20 Forumite
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    edited 24 November 2019 at 10:09PM
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    ben8282
    As I said earlier what I do with my points is my business. What part of wanting to spend my £600 on camera equipment don't you understand ? As far as I am concerned Lloyds have never informed me of how I had to spend my points.
    Yet again you miss the issue. Give me one good reason why I should have to give Lloyds £5,400 of my savings in order to get £6,000 of vouchers, especially when they insist the points "have no financial value" ???
    You can bet your life Lloyds will have negotiated a much bigger discount than the 10% they are offering us punters. So anything over 10% - let us say 20%, effectively gives them 10% of MY MONEY IN THEIR COFFERS not the retailers !!!
    It's a rip off tantamount (I love that word) to theft.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    delboyo wrote: »
    ben8282
    As I said earlier what I do with my points is my business. What part of wanting to spend my £600 on camera equipment don't you understand ? As far as I am concerned Lloyds have never informed me of how I had to spend my points.
    Yet again you miss the issue. Give me one good reason why I should have to give Lloyds £5,400 of my savings in order to get £6,000 of vouchers, especially when they insist the points "have no financial value" ???
    You can bet your life Lloyds will have negotiated a much bigger discount than the 10% they are offering us punters. So anything over 10% - let us say 20%, effectively gives them 10% of MY MONEY IN THEIR COFFERS not the retailers !!!
    It's a rip off tantamount (I love that word) to theft.
    No. You have missed the issue. What part of the expression 'DISCOUNT VOUCHERS' don't you understand. You need to spend money in order to get a % discount. 0 spend = 0 discount.
  • delboyo
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    As for jonesMUFCforever

    kcpvwill wrote he had been told by LLoyds (customer services?) that they have between 200,000 and 300,000 Trustcard holders.
    Do you think that might be enough customers to generate millions in Sales ?? Or do you spend less than £10 each time you cash in ??
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    delboyo wrote: »
    As for jonesMUFCforever

    kcpvwill wrote he had been told by LLoyds (customer services?) that they have between 200,000 and 300,000 Trustcard holders.

    But that doesn't make it true. I could write that they had told me they have 10 million!
  • Puffer
    Puffer Posts: 27 Forumite
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    Ben8282 wrote: »
    ...

    So if you had say a BA Amex to collect Avious and at renewal you received an Amex Nectar card to collect Nectar points without notice or consulatation, you would consider that acceptable, not even notice it and just carry on using it then several yars later complain about it and ask where your Avios were?

    ...

    You are commenting on what I said about card exchanges but it is not clear whether you are challenging me or challenging the card issuers! For the avoidance of doubt, I was merely pointing out (based on my relevant experiences over 30+ years) that card swaps are by no means unknown. I don't approve of unsolicited or unwanted exchanges without consultation but they may or may not matter in terms of having different benefits. I certainly agree that the card holder who fails to notice or react to a disadvantageous change deserves little sympathy. The time to react (and quite possibly jump ship) is when the change arises, not years later.

    I still fail to see why anyone would intentionally hoard a vast number of accrued points over many years and then bleat because the window for exchanging them is about to be slammed shut.
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