Lloyds TSB card - credit available limit is more than £11,000 - why?

beaujolais-nouveau

Since paying off the whole balance last year I have not used this card - I have left a credit of 10p on it - but have always wondered why the spending limit is so huge (I never asked for the limit to be raised). Now, after reading some threads on MSF, it occurs to me that Lloyds TSB do this to try to prevent other card-issuers taking me on. Ie "too much" available credit. Is that likely? (If so, it hasn't worked: I have three other credit cards and a store card.)

Afterthought: should I ask for the limit to be reduced - how will that look on my credit rating record?

Thanks.

jonesMUFCforever

You can always ask them to reduce your limit.

I don't really think what you have said is the case.

Keeping you on board is one thing but the reason why you have a large limit is because they think you are a credit worthy customer.

YorkshireBoy

beaujolais-nouveau wrote: »

I have three other credit cards...

If one of them is Egg Money you could make over £230 with the Egg Money Card Trick stooz.

Just ring LTSB and see if there's a 6 months 0% fee-free BT offer on your account.

beaujolais-nouveau

YorkshireBoy wrote: »

If one of them is Egg Money you could make over £230 with the Egg Money Card Trick stooz.

Just ring LTSB and see if there's a 6 months 0% fee-free BT offer on your account.

I have an Egg credit card but not yet an Egg Money card, although I do like the sound of it. I am self-employed and took on a new mortgage last autumn, so I must stay in control of the budget. I'm in the process of moving all my personal banking to Nationwide.

Thank you.

CannyJock

beaujolais-nouveau wrote: »

I have an Egg credit card but not yet an Egg Money card, although I do like the sound of it. I am self-employed and took on a new mortgage last autumn, so I must stay in control of the budget. I'm in the process of moving all my personal banking to Nationwide.

Thank you.

Think YB was saying you could make money from your 11K limit seeing as it's not doing anything for you just now

mrmajika

YorkshireBoy wrote: »

If one of them is Egg Money you could make over £230 with the Egg Money Card Trick stooz.

Just ring LTSB and see if there's a 6 months 0% fee-free BT offer on your account.

LTSB will charge interest on any balance transfer fee over any interest free period, which is well worth bearing in mind when doing any stoozing calculations.

beaujolais-nouveau

CannyJock wrote: »

Think YB was saying you could make money from your 11K limit seeing as it's not doing anything for you just now

OIC. :lipsrseal

Um, I am so traumatised by Lloyds TSB "customer relationship management" in the last two years (eg taking the equivalent of a week's salary in charges for bouncing DDs that were all due on the same day despite there being less than 24 hours left to clear a cheque from one of my parents that would have covered all the DDs), not answering correspondence, keeping me waiting in a room at my local branch for four hours in the hope that I would agree to remortgaging with them, that I am not interested in having more to do with them. I have never earned more than 20,000 UKP/year, and I might have had my Light Bulb Moment much earlier than last May if I hadn't had so much credit available to help keep my head buried in the sand. (The credit available on that card was 13,000 UKP until they suddenly reduced it to the then current balance outstanding.)

MABLE

beaujolais-nouveau wrote: »

OIC. :lipsrseal

Um, I am so traumatised by Lloyds TSB "customer relationship management" in the last two years (eg taking the equivalent of a week's salary in charges for bouncing DDs that were all due on the same day despite there being less than 24 hours left to clear a cheque from one of my parents that would have covered all the DDs), not answering correspondence, keeping me waiting in a room at my local branch for four hours in the hope that I would agree to remortgaging with them, that I am not interested in having more to do with them. I have never earned more than 20,000 UKP/year, and I might have had my Light Bulb Moment much earlier than last May if I hadn't had so much credit available to help keep my head buried in the sand. (The credit available on that card was 13,000 UKP until they suddenly reduced it to the then current balance outstanding.)

My experience with Lloyds has already been a good one. Whether to do with my regular bank account or with my Lloyds credit card.

You mention about DD's being bounced and go on to say there was an uncleared cheque that would have covered these amounts. However how did Lloyds know the cheque would be honoured. My feeling is you have not kept within the terms and conditions and as such you blame the bank.

Also you mention that you were kept in a branch for 4 hours hoping you would remortgage with them. All you had to say was NO and walk away.

With the greatest respect I can't help feeling some of the problems highlighted are of your own making.

beaujolais-nouveau

MABLE wrote: »

My experience with Lloyds has already been a good one. Whether to do with my regular bank account or with my Lloyds credit card.

You mention about DD's being bounced and go on to say there was an uncleared cheque that would have covered these amounts. However how did Lloyds know the cheque would be honoured. My feeling is you have not kept within the terms and conditions and as such you blame the bank.

Also you mention that you were kept in a branch for 4 hours hoping you would remortgage with them. All you had to say was NO and walk away.

With the greatest respect I can't help feeling some of the problems highlighted are of your own making.

Thank you for your not-at-all-valuable opinion based on hardly any information at all. You are a manager at Lloyds TSB, I take it?

Whatever. I am so not bothered about earning your "respect". I am not going to give any more details. I know why I couldn't walk away then (but can now). I didn't come down to earth yesterday and I believe that they behaved badly towards a customer who had been with them for about 20 years.

MABLE

beaujolais-nouveau wrote: »

Thank you for your not-at-all-valuable opinion based on hardly any information at all. You are a manager at Lloyds TSB, I take it?

Whatever. I am so not bothered about earning your "respect". I am not going to give any more details. I know why I couldn't walk away then (but can now). I didn't come down to earth yesterday and I believe that they behaved badly towards a customer who had been with them for about 20 years.

Are we now feeling better after throwing our toys out of the pram.