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MBNA Switch from Mastercard to Visa
I have an email from Lloyds telling me my MBNA card will be switched from Mastercard to Visa in the coming months. One of my reasons for having the MBNA card was the fact it is Mastercard, where all my other cards are visa. Having all eggs in one basket can be a risk, even if small. Also this used to be an affinity card, which seems to have been quietly dropped. Time to switch to another provider ? Possibly one with low foreign currency charges.
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All Lloyds banking group credit cards are moving over to Visa. As someone with just every LBG group card (BOS, Halifax, MBNA and Lloyds) I'm not particularly concerned. Apart from the change from Mastercard to Visa the Halifax Clarity card remains the same in terms of nil foreign currency charges for card payments.
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Visa are getting their own back after Mastercard bribed banks to switch to their cards a few years ago. So now Visa are bribing banks.
That is paying banks a nice amount & offsetting training costs as well.
Life in the slow lane1 -
Oh, bother!
I also have an MBNA card, and only applied for it 'cos I wanted a Mastercard. If mine's switched to Visa, there's little point in keeping it. I guess that I'll want to go looking for another.
I think that MBNA stopped doing affinity cards when Lloyds took them over. But I might be mistaken.
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My Halifax credit card was originally Visa, in the late 1980s, then it was switched to MasterCard, and now it's back to Visa. In a few years' time it might change to MasterCard again.
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My MBNA card has always been Visa going back to at least 2009.
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I'm the same and when I read this post title I initially thought great, as my Halifax Clarity is about to change and I thought this would give me an overseas fees free one in each camp again, but unfortunately not.
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A couple of times in Feb my visa card failed to work when buying the weeks groceries. Tried several times, but did not even ask for a PIN. But Mastercard worked fine. Also visa card worked fine in other shops using PIN. So feel ought to have at least one Mastercard. Seems there might be a technical failure somewhere that can affect visa but not Mastercard.
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More likely the card was at fault, not a massive fault with a global card issuer
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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This has been on the cards for a while:
https://www.lloydsbankinggroup.com/media/press-releases/2024/lloyds-banking-group-2024/lloyds-expands-partnership-with-visa.html
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They finished up under previous MBNA UK owner, Bank of America.
BOA exited the UK market once the credit/debit card interchange caps came into force.
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