LTSB new way of handling your account

[Bookworm]

Received amendment on daughter's thankfully dormant account:

Buffer zone of £10 - gone.

Charges of maximum 3 a day.

Repayment of 1 charge if only one in 12 months period - gone.

We shall scrape our profits in any which way possible to punish all you bad people out there who have the audacity to reclaim your charges. (ok, it doens't say that, but can all read between the lines, can't we....)

[GaryH]

Yep, theres definately a pattern emerging. MBNA have just informed me that my interest rate is going up by over 5%APR.

No reason given, but as you say its not to difficult to read between the lines.

[ukaviator]

Was in Lloyds tsb today. New Mortgage being offered is ERC free. It's called an Easy Living Mortgage.


They know what's coming.

Ukaviator

[Glenn UK]

It would be nice, naive maybe, but nice to think that banks would withdraw these charges with good grace now they have been forced to accept they are unlawful without imposing higher rates on everyone else.

Sadly what will happen is that the increases will impact on everyone and the banks will make more money because the pool is larger than the pool of those paying bank charges.

JMHO

GLenn

[Overdrawn]

Indeed I have had one of these LTSB letters too, and like Bookworm's daughter it's a dormant account so not a problem for me.

It's pushed me to closing it and severing all ties with them but I won't be closing it without at least having my say.

Letter now being composed

[Boobaby]

Originally Posted by Overdrawn

Indeed I have had one of these LTSB letters too, and like Bookworm's daughter it's a dormant account so not a problem for me.

It's pushed me to closing it and severing all ties with them but I won't be closing it without at least having my say.

Letter now being composed

Same here regarding Capital One - never use this card but they always manage to put some charges on it every month!!!!!

[Number6]

Originally Posted by Bookworm

Received amendment on daughter's thankfully dormant account:

Buffer zone of £10 - gone.

Charges of maximum 3 a day.

Repayment of 1 charge if only one in 12 months period - gone.

We shall scrape our profits in any which way possible to punish all you bad people out there who have the audacity to reclaim your charges. (ok, it doens't say that, but can all read between the lines, can't we....)

I also received this amendment today.

Cute eh!!

Pete

[reload]

Got a letter through from Capital One yesterday myself too - interest rates going up a bit

[ianh]

No no no no no!

Don't close the account if you can help it - even though I agree (as a LloydsTSB customer) that these changes are to replace the profit they're having to repay us.

Keeping an account open costs the bank money, and these costs are not reduced with a small balance. So leave it open with the minimum (usually £1) and they will have to pay to send you statements, letters explaining changes, etc etc etc. Isn't it worth a pound for the cost to them?

Ian

[Tobes]

If you wanted to close the account anyway, you could have some fun with them first. Write back, quoting any reference on the letter indicating new contract terms saying that you do not agree to the new terms. You are perfectly entitled to do this, though of course the end result would probably be that you have to close your account because you can't come to some agreement. It would be fun though if 1 they tried to argue that you're not entitled or 2. as often happens, they ignore your letter. However, if they then tried to do anything in relation to those new terms you could give them a right ticking orf

[GaryH]

Originally Posted by ianh

No no no no no!

Don't close the account if you can help it - even though I agree (as a Lloyds TSB customer) that these changes are to replace the profit they're having to repay us.

Keeping an account open costs the bank money, and these costs are not reduced with a small balance. So leave it open with the minimum (usually £1) and they will have to pay to send you statements, letters explaining changes, etc etc etc. Isn't it worth a pound for the cost to them?

Ian

Leaving accounts open but dorment will actually have a negative effect on your credit rating.

[jkop]

how so?

if you leave it open your good repayment history will stay on file where as if you close it dissapears after a few years does it not? thats the way I understood it anyway.

Originally Posted by GaryH

Leaving accounts open but dorment will actually have a negative effect on your credit rating.

[GaryH]

If you keep an account open, its credit that is availible to you, even if you're not using it. Theres only so much availible credit you will be allowed access to, so if you keep too many old accounts open you'll find your access to any further credit is very limited. For this reason its important to make sure that any, say, old credit card accounts, are actually closed after you pay off the final balance.