For all members who bank with Lloyds TSB:
[link= http://www.credittoday.co.uk/news/news-item.htm?news=175 ]http://www.credittoday.co.uk/news/news-item.htm?news=175[/link]
Patsy.
RE: Lloyds Bank Card
Thank you Patsy for this info!
i am in the states - and dont have a lloyds card - but i read the bit there about MNBA - and i DO have an MNBA card...
i recently recieved a letter stating that they were going to increase my APR from the now 6.9% to 26.9%.....and in small letters said that if you wanted to dispute this you had to mail a written response to an address that i found on a different page ofthe letter! you better believe i wrote the response - but the stipulation was that i can no longer use the card or they back date the charges for the new APR to March 1st, which is when the new APR was supposed to take place.
rediculouse - how am i supposed to pay these bleep-holes off if they increase thier APR's like that? i know - just dont get a card...but i have one, and i had to use it...so i hope it doesnt take me 5 years to get it paid off! I have already cut this card up!
Thanks
Ada
RE: Lloyds Bank Card
Hello Ada,
Yes, these banks are cashing in. We cannot avoid carrying credit cards these days - they are a normal way of life. The way to beat these banks at their own game is to pay off the bill each month, or as much as one can afford. They make money on interest charges. Don't let them get away with it.
Always keep a track of what you spend. Set up a personal spreadsheet for credit card expenditure (remembering to bring forward the o/s balance) and you can work it out each week. At the end of the month you'll be able to reckon up exactly what you owe and what you can afford to pay off. Unless you are very rich (:D:D) use the card only when you have to. Cash is a much better instrument.
American common law is based on the English model, and so I would like to give some excellent advice to you and to others - NEVER EVER be tempted to take out a loan that's secured on your house in order to pay off credit cards, overdrafts or any other unsecured debt. Swapping unsecured for secured debt can lead to disaster. If you ever find yourself in a position whereby you cannot keep up repayments on a credit card, unsecured loan, overdraft, etc - get in touch with your creditors and explain the situation. Work out a repayment plan with them. Even if it takes longer to repay, at least your home and livelihood will not be put at threat.
Don't let the wotsits get away with it.
Love,
Patsy.
[:-]
RE: Lloyds Bank Card
I was talking to the guys at work about this as i had also read this.
Most people said they only use there credit card at the end of the month
when they have ran out of money then pay it straight off so they don't get
charged interest, guess the banks know this & this is why they are bringing
things out like charges for things like this.
Like alot of people i learned the hard way....i would neverhave a credit card again
RE: Lloyds Bank Card
I too am one of those who learned the hard way,concerning credit/bank cards......And i will never entertain one again..EVER!!!!
after nearly losing my home,and inevitably a bankrupt......I have learned so many lessons
D