Lloyds denied card swap to cashback

vikkiew

I have used Lloyd's "eligibility checker" to swap my Lloyds Bank Platinum MasterCard to the new cashback card and it failed. I was not expecting this. Is it normal? What could be the reason?

The message said

Sorry you're not eligible for a credit card this time

We can't offer a swap for your current credit card right now

We've done some checks on your account and we're unable to swap your existing card. This is because of the type of card you hold. You can still continue to use your current card and your credit rating hasn't been affected.

I am in full time employment. Income is over 55k. Same address over 10 years. Always pay in full. No debts. Card limit is over 10k but I rarely use more than 500 a month. Very reliable and boring customer.

Due to holiday refunds because of Covid and not using this card often I have credit going above my limit. Could this be a reason?

I got a Barclays cashback card a few months before Lloyds came out with theirs. It was accepted but the limit is only 2k but I think low limits are normal with Barclays. Could this be a reason?

Is it because Lloyds don't earn any money from me because I pay in full?

The message says it is because of the type of card I hold. I don't know if that is the reason they give everyone or is accurate. There isn't anything special about the card I hold is there? It's just a standard card without any features. It's not a balance card or anything like that.

dr_adidas01

vikkiew said:

I have used Lloyd's "eligibility checker" to swap my Lloyds Bank Platinum MasterCard to the new cashback card and it failed. I was not expecting this. Is it normal? What could be the reason?

The message said

Sorry you're not eligible for a credit card this time

We can't offer a swap for your current credit card right now

We've done some checks on your account and we're unable to swap your existing card. This is because of the type of card you hold. You can still continue to use your current card and your credit rating hasn't been affected.

I am in full time employment. Income is over 55k. Same address over 10 years. Always pay in full. No debts. Card limit is over 10k but I rarely use more than 500 a month. Very reliable and boring customer.

Due to holiday refunds because of Covid and not using this card often I have credit going above my limit. Could this be a reason?

I got a Barclays cashback card a few months before Lloyds came out with theirs. It was accepted but the limit is only 2k but I think low limits are normal with Barclays. Could this be a reason?

Is it because Lloyds don't earn any money from me because I pay in full?

The message says it is because of the type of card I hold. I don't know if that is the reason they give everyone or is accurate. There isn't anything special about the card I hold is there? It's just a standard card without any features. It's not a balance card or anything like that.

If you had checked the thread that’s called (Lloyds Bank Cashback credit card). You would have seen that it’s not possible to change your platinum card to the new Cashback card.

You have to apply for the cashback card as a new credit card, which when you do the eligibility check it will tell you if you are eligible and what your expected credit limit will be. 

WillPS

...and then if you wish you can ask them to move 90% of the limit over, before closing your old account

janeskips2

Lloyds IT need to get their act together. Requiring a new application is ridiculous. It is additional work for the bank and the customer. It benefits nobody and can harm the customer because it is a needless credit mark.

Until Lloyds IT fixes the website the Barclays cashback is same on lower spend. It is also better when travelling. American Express beats them both for cashback.

Thrugelmir

janeskips2 said:

Lloyds IT need to get their act together. Requiring a new application is ridiculous. It is additional work for the bank and the customer. It benefits nobody and can harm the customer because it is a needless credit mark.

Customers need to set reasonable expectations not be pampered and every aspect spoon fed to them. 

WillPS

janeskips2 said:

Lloyds IT need to get their act together. Requiring a new application is ridiculous. It is additional work for the bank and the customer. It benefits nobody and can harm the customer because it is a needless credit mark.

Until Lloyds IT fixes the website the Barclays cashback is same on lower spend. It is also better when travelling. American Express beats them both for cashback.

Amex also doesn't allow you to change between products with a different reward scheme, FYI.

Virgin Money also don't allow you to change from their mainstream products to the Virgin Atlantic card without a fresh application.

It's not at all uncommon and perfectly understandable IMO.

born_again

janeskips2 said:

Lloyds IT need to get their act together. Requiring a new application is ridiculous. It is additional work for the bank and the customer. It benefits nobody and can harm the customer because it is a needless credit mark.

Until Lloyds IT fixes the website the Barclays cashback is same on lower spend. It is also better when travelling. American Express beats them both for cashback.

Why?

You are applying for a totally different & new product.

What's in it for them to swop you over?

dr_adidas01

born_again said:

janeskips2 said:

Lloyds IT need to get their act together. Requiring a new application is ridiculous. It is additional work for the bank and the customer. It benefits nobody and can harm the customer because it is a needless credit mark.

Until Lloyds IT fixes the website the Barclays cashback is same on lower spend. It is also better when travelling. American Express beats them both for cashback.

Why?

You are applying for a totally different & new product.

What's in it for them to swop you over?

I guess you could ask this of Barclaycard who do let existing customers swap to different products if they are eligible.

CRISPIANNE3

Personally speaking I have never had an issue when swapping cards within the Lloyds Banking Group. I have just swapped one I originally got 6 months ago from Halifax and they allowed me to swap it for 17 month on zero percent on purchase and balance transfers. Then again my internal score is 1.