Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • MSE Naomi
    • By MSE Naomi 31st Oct 19, 12:04 PM
    • 349Posts
    • 77Thanks
    MSE Naomi
    Lloyds Trustcard customers only have weeks to spend their points ahead of reward shake-up - MSE News
    • #1
    • 31st Oct 19, 12:04 PM
    Lloyds Trustcard customers only have weeks to spend their points ahead of reward shake-up - MSE News 31st Oct 19 at 12:04 PM
    Lloyds is revamping its legacy Trustcard credit card reward scheme, meaning customers will earn cashback rather than points - but some will have just weeks to redeem hundreds of pounds of points to avoid losing them...
    Read the full story:
    'Lloyds Trustcard customers only have weeks to spend their points ahead of reward shake-up'

    Click reply below to discuss. If you havenít already, join the forum to reply.
Page 2
    • Aurora12
    • By Aurora12 23rd Nov 19, 9:32 PM
    • 16 Posts
    • 0 Thanks
    Aurora12
    .... so much for having 48 months in which to use the points (earned from years of LOYAL custom) before they expire! Lloyds have suddenly now decided to give customers between 7 weeks and a MAX. of just 3 months (notice) in which to USE them or LOSE them! Completely unacceptable!
    i.e.they DIDN'T even give customers their own stated minimum 2 months notice (per THEIR T&C's) of their intended changes.
    Lloyds should be ashamed of themselves if this goes ahead! Like the PPI mis-selling debacle, not only will it cost (their CUSTOMERS ultimately!) in money and time spent processing all the complaints regarding this, they will also lose lots of loyal, long term customers.
    They could sort this out very easily and quickly by allowing their customers' points to be converted to, and redeemed under, their NEW cashback scheme BUT at the equivalent of the EXISTING 1% benefit, rather than the reduced 0.5%. It just feels like outright THEFT by Lloyds Banking Group!
    Lloyds claim they DON'T KNOW and can't even informl customers how many of their points were earned pre-Sept.' 15.[so that they could choose to use them by 1/12/19]. No doubt the "computer" would know how many to drop from the system come 1/12/19!
    For those former TSB customers who were "switched" to Lloyds years ago, Lloyds, then, NEVER NOTIFIED their customers AT ALL when they REMOVED the original Cashback facility (on purchase of other Lloyds products) at the point they changed to the current scheme.
    When I eventually found out, the 3 agents I spoke to had NO KNOWLEDGE of - and couldn't be bothered to find out for me, when that change had taken place!
    Not only have Lloyds not learnerd from their previous bad press, it seems their sole aim is GREED, whatever the cost - very shortsighted!
    • delboyo
    • By delboyo 24th Nov 19, 5:23 PM
    • 11 Posts
    • 2 Thanks
    delboyo
    Trustcard rip off
    Hi Aurora12 and all other about to be ripped off customers.

    I was hoping to use my points to put £600 towards a new camera or camera lens but not to have to pay Lloyds £5,400 before being able to do so.
    If it helps, I have had two long conversations with a "Customer Services" lady who has assured me this Rip Off is being considered by the Lloyds management, although how high up the food chain is not known.
    Whatever the outcome, Lloyds should be totally embarrassed and will no doubt lose thousands of customers as a result.
    Also no doubt, the management of Currys PC World, Argos, WH Smith and the other retailers in the scheme will not be happy about missing out on potentially millions of pounds of Sales - and just before Xmas !!
    • Aurora12
    • By Aurora12 24th Nov 19, 6:01 PM
    • 16 Posts
    • 0 Thanks
    Aurora12
    Well said, Delboyo!
    • jonesMUFCforever
    • By jonesMUFCforever 24th Nov 19, 7:36 PM
    • 26,338 Posts
    • 13,512 Thanks
    jonesMUFCforever
    This is such an old card that I honestly do not know a single person (apart from posters on here) that have collected or used these points.
    As for losing 'thousands of customers' and shops losing millions in sales as a result - Pleeeaaasssssee!
    What goes around - comes around
    give lots and you will always receive lots
    • Ben8282
    • By Ben8282 24th Nov 19, 8:09 PM
    • 4,718 Posts
    • 2,615 Thanks
    Ben8282
    I must clearly be telling lies then?:!
    Originally posted by happyandcontented
    Well not lies exactly. But first you calimed to have been a Lloyds credit card customer for over 40 years then when it was pointed out that you would not have opened the account as a Trustcard account you said you had been a TSB customer prior to 1999 so it must have been a Trustcard then you advised that it had been swapped to a different type of card without your knowledge or consent meaning that when one day you received a Platinum Mastercard or whatever product you now have instead of the Visa Trustcard you didn;t notice and didn't read any correspondence and never noticed that your statements never made any reference to your points any more and never once in all that time wondered what had happened to your points or thought even once about redeeming them....
    It is by no means unusual for one credit card to be replaced by another at the issuer's instigation (and without consultation)
    Originally posted by Puffer
    So if you had say a BA Amex to collect Avious and at renewal you received an Amex Nectar card to collect Nectar points without notice or consulatation, you would consider that acceptable, not even notice it and just carry on using it then several yars later complain about it and ask where your Avios were?

    To Jakiieb, Delboya and Aurora12 etc. You have had years and years to redeem these points. Now, after I don't know how many years of saving them up for whatever you were saving them up for, it is suddenly so important for you to redeem them. Why did you save them up for so long Ö you must have been aware of the redemption process and the fact that the points were redeemed for discount vouchers which would actually involve you spending money at the same time. You should have redeemed them for vouchers bit by bit over the years like everybody else and not accumulated so many..
    Last edited by Ben8282; 24-11-2019 at 8:48 PM.
    • Ben8282
    • By Ben8282 24th Nov 19, 8:57 PM
    • 4,718 Posts
    • 2,615 Thanks
    Ben8282
    Returning to the original MSN article, it states that the Trustcard reward scheme is changing so that Trustcard holders will be receiving 0.5% cashback in place of the rewards.
    This poses the interesting question of whether Lloyds are introducing this cashback simply for the benefit of the few remaining Trustcard holders or if perhaps Lloyds have a plan to introduce a new cashback credit card product at some point, bearing in mind that the current credit card offerings from Lloyds are pretty poor and unattractive now that the Amex duo cards are no more.
    • delboyo
    • By delboyo 24th Nov 19, 9:08 PM
    • 11 Posts
    • 2 Thanks
    delboyo
    Trustcard rip off
    ben8282
    As I said earlier what I do with my points is my business. What part of wanting to spend my £600 on camera equipment don't you understand ? As far as I am concerned Lloyds have never informed me of how I had to spend my points.
    Yet again you miss the issue. Give me one good reason why I should have to give Lloyds £5,400 of my savings in order to get £6,000 of vouchers, especially when they insist the points "have no financial value" ???
    You can bet your life Lloyds will have negotiated a much bigger discount than the 10% they are offering us punters. So anything over 10% - let us say 20%, effectively gives them 10% of MY MONEY IN THEIR COFFERS not the retailers !!!
    It's a rip off tantamount (I love that word) to theft.
    Last edited by delboyo; 24-11-2019 at 9:09 PM. Reason: Omitted a word
    • Ben8282
    • By Ben8282 24th Nov 19, 9:10 PM
    • 4,718 Posts
    • 2,615 Thanks
    Ben8282
    ben8282
    As I said earlier what I do with my points is my business. What part of wanting to spend my £600 on camera equipment don't you understand ? As far as I am concerned Lloyds have never informed me of how I had to spend my points.
    Yet again you miss the issue. Give me one good reason why I should have to give Lloyds £5,400 of my savings in order to get £6,000 of vouchers, especially when they insist the points "have no financial value" ???
    You can bet your life Lloyds will have negotiated a much bigger discount than the 10% they are offering us punters. So anything over 10% - let us say 20%, effectively gives them 10% of MY MONEY IN THEIR COFFERS not the retailers !!!
    It's a rip off tantamount (I love that word) to theft.
    Originally posted by delboyo
    No. You have missed the issue. What part of the expression 'DISCOUNT VOUCHERS' don't you understand. You need to spend money in order to get a % discount. 0 spend = 0 discount.
    • delboyo
    • By delboyo 24th Nov 19, 9:18 PM
    • 11 Posts
    • 2 Thanks
    delboyo
    Trustcard rip off
    As for jonesMUFCforever

    kcpvwill wrote he had been told by LLoyds (customer services?) that they have between 200,000 and 300,000 Trustcard holders.
    Do you think that might be enough customers to generate millions in Sales ?? Or do you spend less than £10 each time you cash in ??
    • Ben8282
    • By Ben8282 24th Nov 19, 9:26 PM
    • 4,718 Posts
    • 2,615 Thanks
    Ben8282
    As for jonesMUFCforever

    kcpvwill wrote he had been told by LLoyds (customer services?) that they have between 200,000 and 300,000 Trustcard holders.
    Originally posted by delboyo
    But that doesn't make it true. I could write that they had told me they have 10 million!
    • Puffer
    • By Puffer 24th Nov 19, 10:58 PM
    • 17 Posts
    • 11 Thanks
    Puffer
    ...

    So if you had say a BA Amex to collect Avious and at renewal you received an Amex Nectar card to collect Nectar points without notice or consulatation, you would consider that acceptable, not even notice it and just carry on using it then several yars later complain about it and ask where your Avios were?

    ...
    Originally posted by Ben8282
    You are commenting on what I said about card exchanges but it is not clear whether you are challenging me or challenging the card issuers! For the avoidance of doubt, I was merely pointing out (based on my relevant experiences over 30+ years) that card swaps are by no means unknown. I don't approve of unsolicited or unwanted exchanges without consultation but they may or may not matter in terms of having different benefits. I certainly agree that the card holder who fails to notice or react to a disadvantageous change deserves little sympathy. The time to react (and quite possibly jump ship) is when the change arises, not years later.

    I still fail to see why anyone would intentionally hoard a vast number of accrued points over many years and then bleat because the window for exchanging them is about to be slammed shut.
    • jonesMUFCforever
    • By jonesMUFCforever 24th Nov 19, 11:51 PM
    • 26,338 Posts
    • 13,512 Thanks
    jonesMUFCforever
    Just found this old closed thread about the Trustcard thread from 2006 - seems to me the points system is the same ie a discount.

    https://forums.moneysavingexpert.com/showthread.php?t=235618
    What goes around - comes around
    give lots and you will always receive lots
    • Ben8282
    • By Ben8282 25th Nov 19, 1:30 AM
    • 4,718 Posts
    • 2,615 Thanks
    Ben8282
    Just found this old closed thread about the Trustcard thread from 2006 - seems to me the points system is the same ie a discount.

    https://forums.moneysavingexpert.com/showthread.php?t=235618
    Originally posted by jonesMUFCforever
    Yes it is and the basis for complaint appears to be that those who have hoarded points for decades now have to spend money in order to receive the discount. They cannot understand that 10% discount on 0 spend = 0. They appear to fail to comprehend this obvious fact and accuse Lloyds of forcing them to spend the money and for unfathomable reasons seem to believe that Lloyds will in some way profit from this because they refer to having to pay this money to Lloyds when obviouslty it will be paid to the retailer.
    • delboyo
    • By delboyo 25th Nov 19, 1:30 PM
    • 11 Posts
    • 2 Thanks
    delboyo
    Ben8282

    " ……. they refer to having to pay this money to Lloyds when obviously it will be paid to the retailer."

    How many more times before it penetrates.

    If you are correct then why are Lloyds are asking people to PAY 90% of any transaction TO THEM and NOT the retailers??
    Last edited by delboyo; 25-11-2019 at 1:31 PM. Reason: Spelling
    • Ben8282
    • By Ben8282 25th Nov 19, 4:12 PM
    • 4,718 Posts
    • 2,615 Thanks
    Ben8282
    It would therefore appear that Lloyds are offering you the opportunity to buy vouchers at a 10% discount rather than providing a voucher which offers a 10% discount. Same thing really. Either way, you would still have to pay the additional 90% at some point.
    Last edited by Ben8282; 25-11-2019 at 4:18 PM.
    • delboyo
    • By delboyo 25th Nov 19, 7:51 PM
    • 11 Posts
    • 2 Thanks
    delboyo
    Trustcard rip off
    FFS.

    What planet are you on ? I would happily pay the retailer directly if I had my 10% discount from Lloyds as well.

    That's the problem - the money HAS to be paid to Lloyds first who will then take up to two weeks to send any vouchers. Multiply that by several thousand people and it mounts up to a lot of money earning interest IN LLOYDS own coffers, put on overnight deposit on the FX no doubt.
    • Puffer
    • By Puffer 25th Nov 19, 10:38 PM
    • 17 Posts
    • 11 Thanks
    Puffer
    FFS.

    What planet are you on ? I would happily pay the retailer directly if I had my 10% discount from Lloyds as well.

    That's the problem - the money HAS to be paid to Lloyds first who will then take up to two weeks to send any vouchers. Multiply that by several thousand people and it mounts up to a lot of money earning interest IN LLOYDS own coffers, put on overnight deposit on the FX no doubt.
    Originally posted by delboyo
    Lloyds has bought the vouchers from the retailers in bulk at a discounted price, most (or maybe all) of which is passed on to its grateful cardholders. In practice, a phone order for the vouchers produces them in the post within 3 - 4 days - as I know from many purchases over the years.

    Whatever price or credit Lloyds gets when buying the vouchers, it quite likely holds most of them as paid-for stock until re-sold to its cardholders, at which point it charges their credit cards. So, cardholders get the benefit of whatever credit period is on their account (up to almost 2 months) before having to part with cash. And, if bought and used sensibly, the vouchers are likely to have been spent in buying goods before any cash goes out.

    I can't see what is objectionable about the scheme, and I don't grudge Lloyds a small profit on the vouchers if it buys them in for less than the 90% of face value I pay.
    • happyandcontented
    • By happyandcontented 29th Nov 19, 1:24 PM
    • 2,314 Posts
    • 4,898 Thanks
    happyandcontented
    Well not lies exactly. But first you calimed to have been a Lloyds credit card customer for over 40 years then when it was pointed out that you would not have opened the account as a Trustcard account you said you had been a TSB customer prior to 1999 so it must have been a Trustcard then you advised that it had been swapped to a different type of card without your knowledge or consent meaning that when one day you received a Platinum Mastercard or whatever product you now have instead of the Visa Trustcard you didn;t notice and didn't read any correspondence and never noticed that your statements never made any reference to your points any more and never once in all that time wondered what had happened to your points or thought even once about redeeming them....

    So if you had say a BA Amex to collect Avious and at renewal you received an Amex Nectar card to collect Nectar points without notice or consulatation, you would consider that acceptable, not even notice it and just carry on using it then several yars later complain about it and ask where your Avios were?
    Originally posted by Ben8282
    Yes, because I don't use points full stop. I have a Nectar card with probably loads of points on it but I have never used them.

    My credit card from Lloyds changed its name but I never gave it a second thought. Banks changed names and cards changed accordingly. I can only say that I had a Trustcard for years, and years and I never asked for the change to my current Platinum card or formally agreed to it, except by the default of not querying it.

    You are an argumentative little soul aren't you?
    Last edited by happyandcontented; 29-11-2019 at 2:49 PM.
    • delboyo
    • By delboyo 13th Dec 19, 3:50 PM
    • 11 Posts
    • 2 Thanks
    delboyo
    I have just been informed by one of Lloyds (lack of) Customer Service team that they are now offering a 12% discount instead of 10%. Also they should have given people 6 months notice of the change to the scheme! Nothing else mind you. Not even to convert my points to the new scheme at half the previous value. Oh and I have lost all the points accumulated to September 2015.
    Again, no explanation as to why I would have to hand over to Lloyds, in cash, 90% (or now 88%) of the value of any purchase I may have wished to make. "That's how the scheme works". Still tantamount to theft in my book.
    • PriceyUK
    • By PriceyUK 6th Jan 20, 6:55 PM
    • 15 Posts
    • 21 Thanks
    PriceyUK
    After reading an article on MSE suggesting that it might be worth making a complaint about this points issue if unhappy, I did just that, by clicking through to an online form on the Lloyds website. The reason I complained as it felt very unfair to make such a big change with so little notice. This was in the first week of December.

    I've had two letters since, one saying my complaint is being investigated, then another this week, apologising for the amount of time it's taking to get back to me.

    Today I had a call from the bank about the complaint. After the security check, I was asked to summarise my concerns, which I did (unfair...seems short notice... loyal customer since the 80s, card since 1991, etc). The man sympathised, said he understood my frustrations, confirmed that others had complained too, started explaining that the scheme cannot be extended due to agreements with retailers coming to an end and so on, also mentioning that the scheme has terms and conditions, once of which is that Lloyds reserve the right to cancel the scheme.

    Starting to think I was about to be told "tough!", I got ready for the call to come to an end. However, what happened next surprised me...

    "There are terms and conditions, you see. And one of the terms is that if we wish to end the scheme, we need to give you six months' notice. Which we haven't done." A series of grovelling apologies started, with the man saying I had been "let down" and that it "isn't good enough" and that "we really need to do better"..."the letters only went out in October, which was too late".

    I was listening again. He went on to stress that nothing can be done about the scheme ending... as "the wheels have been set in motion". He confirmed that I'd alread lost thousands of points and that the few hundred I had remaining would go too on Jan 25th if they're not used before then. But...

    ...he said that any purchases made between 25/1 and 25/4 would earn 12.5% cashback.

    Me? I shall be putting everything I spend... everything...on the Trustcard for those three months. And I've got an expensive few months. Result.

    You? Tell them you're not happy!

    Good luck.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

78Posts Today

2,599Users online

Martin's Twitter