lloyds bank taking the micky with credit card

dave0069

Has with a lloyds credit card , had them take the micky with intrest rates and nearly double it for no reson.  

 Iv had one of there platinum cars at 10.8 apr and aways pay off in full.   as soon as i made a large purchase, they tryed a rug pull and nearly doubled the apr to 18percent.   little did they know i was still intending to settle in full at end of the mounth.

i mostly used that card as a back up when some where dint take amereican express

be very careful with them if you intend to spread a large purchase. and its not on a ballance transfer

thing is my credit is excilent and  im pre aproved for for most lloyds cards on credit checking sites

and an amex gold card holder so it could only have been a bait and switch scam from em

it gos with out saying a rang em and told where they could put there card and bank

JGB1955

If you pay/intend to pay your bill in full every month the interest rate doesn't matter... does it?  (18% is still very low...)

dave0069

JGB1955 said:

If you pay/intend to pay your bill in full every month the interest rate doesn't matter... does it?  (18% is still very low...)

no but its taking the !!!!!! aint it what if it had been some that could not pay it off instanly  iv never come acroos a credit card company that tryed to pull that one

Phoenix72

dave0069 said:

JGB1955 said:

If you pay/intend to pay your bill in full every month the interest rate doesn't matter... does it?  (18% is still very low...)

no but its taking the !!!!!! aint it what if it had been some that could not pay it off instanly  iv never come acroos a credit card company that tryed to pull that one

You do know you can reject the increase but no further spending on the card so you keep the 'old' rate on the existing balance

dave0069

Phoenix72 said:

dave0069 said:

JGB1955 said:

If you pay/intend to pay your bill in full every month the interest rate doesn't matter... does it?  (18% is still very low...)

no but its taking the !!!!!! aint it what if it had been some that could not pay it off instanly  iv never come acroos a credit card company that tryed to pull that one

You do know you can reject the increase but no further spending on the card so you keep the 'old' rate on the existing balance

yes i do ?I was trying to warn others what lloyds are up to but in future i wont bother  me personly it dont harm me it just iritated me  as i have 13 other cards

eskbanker

dave0069 said:
it just iritated me  as i have 13 other cards

Perhaps Lloyds took the view that your aggregate available credit represents a higher risk than they'd originally allowed for and they adjusted your APR accordingly?

dave0069 said:

Iv had one of there platinum cars at 10.8 apr and aways pay off in full.   as soon as i made a large purchase, they tryed a rug pull and nearly doubled the apr to 18percent.   little did they know i was still intending to settle in full at end of the mounth.

Sounds like they'd have had enough info to take an educated guess....

dave0069

eskbanker said:

dave0069 said:
it just iritated me  as i have 13 other cards

Perhaps Lloyds took the view that your aggregate available credit represents a higher risk than they'd originally allowed for and they adjusted your APR accordingly?

dave0069 said:

Iv had one of there platinum cars at 10.8 apr and aways pay off in full.   as soon as i made a large purchase, they tryed a rug pull and nearly doubled the apr to 18percent.   little did they know i was still intending to settle in full at end of the mounth.

Sounds like they'd have had enough info to take an educated guess....

i doubt it iv had the card for 3 years  and run a few grand on it every mounth  and had more cards in that time iv canceld  if i ap[pyed for a new one computer would say yes on a auto check. I genuinly belive there trying deliberate rug pulls for profit id used a high amount on it for part payment for a audi A8 for the section 75 protection and while i moved some capital as dearler dint take amex  and i think thery thourt they get a !!!!!! load of intrest with a shady rug pull

as I said i was just warning others    I never borrow on cards and always pay in full unless Its on a zeropercent deal and im earning more in intrest that the zeropercent fee  and i have enoutgh free capital to clear all my cards if they were all maxed

CouldntResist

dave0069 said:

Phoenix72 said:

dave0069 said:

JGB1955 said:

If you pay/intend to pay your bill in full every month the interest rate doesn't matter... does it?  (18% is still very low...)

no but its taking the !!!!!! aint it what if it had been some that could not pay it off instanly  iv never come acroos a credit card company that tryed to pull that one

You do know you can reject the increase but no further spending on the card so you keep the 'old' rate on the existing balance

yes i do ?I was trying to warn others what lloyds are up to but in future i wont bother  me personly it dont harm me it just iritated me  as i have 13 other cards

If they thought this was a surefire way of making more money someone should tell The Dept of Shady Rug Pulls that people can decline to pay higher interest rates if they stop using the card and their dastardly ploy is bound to fail.

Perhaps the Dept of We Have To Keep Lending People Money At An Interest Rate They Like could talk to them

eskbanker

dave0069 said:
as I said i was just warning others

Yes, not questioning your motives, but ultimately it's pointless to do so, when card companies adjust limits all the time, and such actions will depend on an individual's circumstances, so the fact that Lloyds chose to do so for you doesn't signify that they're particularly likely to do so for anyone else, or that they're any more or less likely to do so than any of their competitors.

P.S. The legibility of your posts would be greatly increased if you used a spell-checker!

Emmia

If you're paying in full every month, why do you care what the rate is?

If the card is ALWAYS paid in full it doesn't matter if the rate is 0% 20% 100% 5,000% or 1,000,000% as a debt is never carried from one month to the next.

Nasqueron

dave0069 said:

JGB1955 said:

If you pay/intend to pay your bill in full every month the interest rate doesn't matter... does it?  (18% is still very low...)

no but its taking the !!!!!! aint it what if it had been some that could not pay it off instanly  iv never come acroos a credit card company that tryed to pull that one

There are multiple threads on here and indeed in the MSE newsletter about multiple banks doing this, it's not Lloyds targeting you