Beware LloydsTSB trying it on?

1310bojangles

Hi, thought you might wish to note this.
Following the info on this site, back in Feb 05 I obtained a LTSB CC at 0% APR for Balance Transfers for 12months. Low and behold, I noticed last month, on my statement that LTSB were now saying the special introductory rate applying to my Bal Trans was due to expire in August 2005!! meaning it was only for a 6 month period, not 12. Several phone calls later to the LTSB Customer services helpline and they have admitted they "must have made a mistake". Oh really? Pure coincidence, am I the only one??

So the message is just to be aware that this could be happening to others, so check the wording on your statements otherwise you'll miss it and end up being charged for their "mistake".

Nick

matrix999

Out of interest was this the Advance Credit Card?

If it was then I can confirm that it was advertised at 12 months and then it was changed to 6 months!

ctm_2

Thanks for the heads up. I've got one of them, will carefully check my statements for the exact wording. I've got it set up by direct debit, so usually just a cursory glance over the statement.

1310bojangles

to be honest i cant exactly remember if its an advance or advantage card, as i chopped it up as soon as i transfered the balance!

1310bojangles

I thinks its worthwhile updating you on this episode, becasue it aint over!. A couple of weeks ago i go my monthly card statement (which i dont normaly read btw - but will do from now on tho!!). I noticed, strangely, that they hadnt taken a payment in August or September, and also noticed they had an interest charge of 5.9% lodged against the oustanding balance (despite this being a 0% BT deal). So i rang the bank and queried all this with them, and was staggered to learn this. They claim to have written to me (they hadnt!) to ask whether i wanted to keep the fixed 0% apr for the 12mth BT deal, or change to a 5.9% lifetime (until balance paid off), in the absence of a supposed reply from me, they actually reverted my account to an interest bearing account, without any authorisation from me, and making matters worse, hadnt taken 2 payments, meaning the oustanding balance at the time of reverting to 5.9% would have been higher. This is outrageous, and maybe illiegal? i dont know. But (fortunately) i got them to sort if out and revert back to the original deal of 0% until Jan 2006, when i sure as hell will be changing card supplier. I cannot believe that this is just an isolated case, so this must have happened to countless others. LLoyds TSB you are a disgrace!

YorkshireBoy

1310bojangles wrote:

I noticed, strangely, that they hadnt taken a payment in August or September...But (fortunately) i got them to sort if out and revert back to the original deal of 0% until Jan 2006

I fear this may not be the end of your troubles. You may need to send for your credit history reports to see what damage has been done.

serpico

Here we go folks their bad debts are rising, they gotta maintain their profits somehow, so they will screw anyone any which way they can, better watch your backsides.

Chris357

I think the whole Lloyds group have been directed to try it on. I applied for a More Than card but after a while a letter arrived saying they wanted to discuss my application further. I have never been asked to do this before as my credit rating is very good. Smelling a rat, I decided to pull out. I got the feeling they were delaying the process so that my balance transfer request would not go through within the six week deadline. After reading the above, I'm glad I did. It seems to me that they are determined to crack down on stoozers by any means, fair or foul.

I'm now going to pay off some debt (I wasn't foolish enough to spend it), cancel a couple of cards, and see what the situation is in about 3 months time. To be fair to LLoyds, they are not the only ones trying it on. Just look at the way MBNA are behaving. There is no way that I would pay an annual fee or a balance transfer fee.