Lloyds Bank Credit Card
Funk You
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Every time I go to top up my bank I always get the hard sell about a Lloyds credit card, thing is I have barely anything in the bank as it is plus I seem to go over drawn (something usually comes out sending me in the red) so why am I still being offered this? I don't want to get further into debt.
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The cashier may well have noticed your issue and worked out that you'll save on overdraft fees if you balance your financial porftolio with a credit card.
Is this really the case? all I keep hearing from the cashier is that I can get my money back faster when I have ordered on the internet on credit card instead of my usual debit card.
I always knew there was a good reason to make deposits using the hole-in-the-wall!
Oh yes, the fun and games I had setting up a direct debit to pay off the credit card statements!
The cashiers have to spout on to customers, because the bosses say so, so it's not the fault of the poor sap who's serving you. He or she probably thinks it's as annoying as you do.
It was no problem at all with my Santander current account and credit card.
It can be...
Have you done the calculations yourself?
You need to complete the correct details on the mandate and ensure there is sufficient funds in the account to settle the DD when it is collected.
Why are you asking yourself a question?
http://www.thisismoney.co.uk/money/saving/article-2616969/Lloyds-Bank-branch-sales-targets-continue-increase.html
With the new 7 day switching service rules , it's as easy as baking a cake
Blimey. Is this how they're selling credit cards these days?
It's not even true really, so I wouldn't worry. The few times my debit card has been fraudulently used I've always had the money back nice and quickly - that's what charge-backs are for
Nobody should have a credit card unless they need one for some specific reason in my opinion. It just seems odd that people would expect to be able to just buy anything anytime and pay for it later. Save up and wait. Less hassle.
ETA: Barclays actually signed me up for a credit card last year without me even knowing, which I thought was amusing at the time. Shows their desperation I guess. As others have said they are just a bunch of vultures.
There are differences however; well explained here
I just want a setting that says "look, you're my current account provider, if I ever do find myself needing a loan you'll be one of the first ones I will price up when that time comes, until then just nack off and leave me alone." and "oh, by the way my credit card gives me nectar points, yours doesn't"
Although it's true that credit cards have a big advantage if you are the victim of fraud. For one thing you don't actually have to 'get your money back' because it's not your money that's been spent. You just tell the bank you won't be paying those items on your bill.
It was the convincing them that, yes, I really did want to settle in full each month that was the problem. They did "warn" me of my possible "mistake" and offer me the chance to "correct" it, though.
How much money is there to be made from their former customers, though?
The rate of people actually switching bank accounts is so low that they are possibly statistically insignificant and are not a major worry to the banks at the present time.
That's not true at all. Switching is at record levels.
Yes, it is at record levels and still rising, but it is still only about 1 percent of everybody who has a bank account who is switching every year. My point was that the banks are probably very happy at a customer retention rate of 99% and therefore are not putting effort into customer retention activities.
http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/10970696/Only-1pc-move-with-new-current-account-switching-service.html
Is what I was trying to say.