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Airmiles Duo credit card replaces the Classic CC


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Hello,

 

Lloyds TSB has recently decided to replace the Classic credit card (CC) with the new Airmailes Duo credit card (AD). They have started to transfer the balance (without my consent or advance notice!) of my CC to the AD, as well as new payments I did on the CC (shown as adjustments), and have now closed the CC account (actually the available credit is now Nil).

 

Meanwhile, I received a statement for my CC, showing a balance of 400£ with a payment due on the 16 May. Do I need to make this payment on the new AD account (I always do a full repayment) ? The Internet banking system says the next statement for the AD (which will be the first statement for this card) is the 20th of May. The person from the call centre was not sure (there was no explanation from Lloyds TSB), asked her manager, then gave me this very cryptic answer: everything is unchanged. If the balance on the CC is 0, why should I pay on the AD this month. I did not ask the balance to be transferred to the new card, and the contract is completely new.

 

What should I do? I do not want them to jeopardize my credit rating because of their errors.

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Hi, very interesting.

 

I'm in the process of persuing Lloyds on the issue of CCA on a credit card, took ages to come through.... luckily illegible.

 

But something that may be of interest to you, or others considerring the change of card and account number.

 

I've just found the sheet of paper that the new Mastercard arrived on (replacing the Visa Trustcard) , and a BIG surprise that I didnt notice at the time, the text is a NEW AGREEMENT!!!!!!!

 

I haven't activated or used the card, in fact cut it up as didnt want to continue using it.

 

The most important thing here, is Lloyds were obviously issuing new agreements for a reason. This has no space for a signature, and obviously they won't have a copy of it signed by myself.

Advice offered by ENRON is without prejudice and is for your judgement as to whether to take it. You should seek the assistance or hire of a solicitor or other paid professional if in doubt.

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I've just found the sheet of paper that the new Mastercard arrived on (replacing the Visa Trustcard) , and a BIG surprise that I didnt notice at the time, the text is a NEW AGREEMENT!!!!!!!

 

Indeed, and one of the main point in this new agreement (for my usage) is that if I do my repayments each month in full, they have the right to change the repayments date. This is exactly what I am doing: I repay in full each month, 0% interest thanks to the 56-day interest free period. But this is just another tactic they would use to screw up their customers, changing the repayment date arbitrarily to force you either to pay interests or worse by making you miss a payment.

 

By the way, on the phone they say I would have to pay this month, as if the new cards replaced the older one. However as you pointed out, this is a new contract, an entirely new card with a balance transfer. I should take advantage of the 6-month interest free period for balance transfers, but they won't tell you that.

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They practically forced me into signing the agreemant at my branch to switch the classic MC to the DUO. I was at the counter, then a member of staff came behined me when i finished led me into a room and said I would get a better interest rate if i signed! :)

 

I had the same issue where I recieved a bill for the Classic MC although it had been closed and balance transfered! I made a payment over the phone to the DUO account.

 

Now i have just realised that althought their website shows an APR of 15ish% on the DUO card I am on 20% this they say is because i am not a NEW customer off the web. Although it is slightly lower than the 26% on the classic card!

 

Re the balance transfer, us OLD customers are not eligible to it on the transfered balance, however they do you a deal on NEW balances. This is the case as i just got my first DUO statement and i have been charged interest!

 

I will write a letter of complaint, but have decided to just pay it off in the next month!! RANT OVER!

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