Lloyds Avios credit cards

Old Dec 11, 11, 4:45 am
  #106  
 
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I've had a message through this morning. This issue will be raised with the techincal team on Monday...so fingers crossed!
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Old Dec 11, 11, 4:49 am
  #107  
 
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Also rejected despite a perfect credit history and no need for actual credit from Lloyds. Also can't be bothered to appeal. Also can't be bothered to move any of my savings/investment products to Lloyds next time I shuffle them!
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Old Dec 11, 11, 5:14 am
  #108  
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I think this is general of all the companies at the moment. They seem to have realy got tighter with their lending and who they open accounts for. I am not sure why Lloyds even bother advertising if they dont want to open accounts for people.
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Old Dec 11, 11, 9:01 am
  #109  
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Originally Posted by PaulN View Post
I have the same issue on IE and firefox. This line of code appears to be the offender.

<div class="cta icon-button" href="#"><a class="icon30 external split_url_prem" target="_blank" href="">Apply now</a></div>

So with the "#" it is just referring to itself not to a new page.
Normally HTML like that tends to be paired with some JavaScript which intercepts an onclick event. The script might be broken.
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Old Dec 11, 11, 9:03 am
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Banks don't make much (if any) money from people who pay down their balance in full each month. So if they can discern from your credit record that you do this, you might not get offered a card. They much prefer people who transfer in a balance (at a fat fee) and then roll over purchases from month to month.
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Old Dec 11, 11, 10:12 am
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Originally Posted by stifle View Post
Banks don't make much (if any) money from people who pay down their balance in full each month. So if they can discern from your credit record that you do this, you might not get offered a card. They much prefer people who transfer in a balance (at a fat fee) and then roll over purchases from month to month.
They'll make money every time you spend from the transaction fees charged to the merchant, especially when you use the amex and spend a lot.

I seriously doubt if they would use the fact that someone paid in full as a reason to refuse a card, especially if they would be besmirching a perfect credit record by doing so. Is that even legal?

Aristoph, I'd get a credit check done just incase something has popped up you weren't aware of, or there is an error somewhere needing to be corrected.
Or maybe you have hit a limit of too many mastercards or amexes ?
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Old Dec 11, 11, 10:57 am
  #112  
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Originally Posted by PanGalactic View Post
They'll make money every time you spend from the transaction fees charged to the merchant, especially when you use the amex and spend a lot.

I seriously doubt if they would use the fact that someone paid in full as a reason to refuse a card, especially if they would be besmirching a perfect credit record by doing so. Is that even legal?

Aristoph, I'd get a credit check done just incase something has popped up you weren't aware of, or there is an error somewhere needing to be corrected.
Or maybe you have hit a limit of too many mastercards or amexes ?
Unfortunately you are wrong. Some card issuers do only want those who run a balance. There aren't huge profits just from the merchant fees, especially when paying out for your reward points and giving you 4 to 8 weeks free credit. The issuer also has tohold reserve capital against your entire credit limit.

However ..... In general, frequent fliers are a wealthy lot and charge a lot to their cards (we probably do 50k a year even if you ignore my tax payments via credit card) and merchant fees at that level are attractive. Cards like the BA Amex target high spenders and so you get accepted if you are well off.

The Avios card seems to be targetted at the non frequent flier market. You may be surprised to know that the average household ony charges 3,800 to credit cards each year, and runs a balance. I think this is the profile that Lloyds is looking for. They are clearly losing money offering 12.5 Avios per 1 and do not want heavy spenders who clear their balance. If they give one to me, I will probably try to squeeze 10,000+ through it for 125,000 Avios (costing Lloyds around 650) and will then cancel. If they have sense they will reject me.
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Old Dec 11, 11, 11:00 am
  #113  
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Originally Posted by PanGalactic View Post
They'll make money every time you spend from the transaction fees charged to the merchant, especially when you use the amex and spend a lot.
True, but the cost of liquidity will eat that up. (UK banks are legally obliged to maintain very liquid assets, essentially cash, deposits at the central bank, or government bonds equal to the amount of money which they might have to pay out in the next eight days, and this includes available credit on credit cards. Because the interest rate paid on these liquid assets is tiny, this liquidity requirement costs the banks money.)
Originally Posted by PanGalactic View Post
I seriously doubt if they would use the fact that someone paid in full as a reason to refuse a card, especially if they would be besmirching a perfect credit record by doing so. Is that even legal?
Yes it is; banks can choose whom they do and don't wish to do business with. The outcome of a credit application does not show on your credit record in the UK in any case.
Originally Posted by PanGalactic View Post
Aristoph, I'd get a credit check done just incase something has popped up you weren't aware of, or there is an error somewhere needing to be corrected.
Or maybe you have hit a limit of too many mastercards or amexes ?
I don't think there is such a limit. American Express-issued cards do sometimes have a limit, but this card is issued by Lloyds.
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Old Dec 11, 11, 11:28 am
  #114  
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Originally Posted by Raffles View Post
Unfortunately you are wrong. Some card issuers do only want those who run a balance. There aren't huge profits just from the merchant fees, especially when paying out for your reward points and giving you 4 to 8 weeks free credit. The issuer also has tohold reserve capital against your entire credit limit.
Fair enough.

Originally Posted by Raffles View Post
However ..... In general, frequent fliers are a wealthy lot and charge a lot to their cards (we probably do 50k a year even if you ignore my tax payments via credit card) and merchant fees at that level are attractive. Cards like the BA Amex target high spenders and so you get accepted if you are well off.
You can pay UK Taxes on an AMEX ????????? @:-)@:-)@:-)

Originally Posted by Raffles View Post
The Avios card seems to be targetted at the non frequent flier market. You may be surprised to know that the average household ony charges 3,800 to credit cards each year, and runs a balance. I think this is the profile that Lloyds is looking for. They are clearly losing money offering 12.5 Avios per 1 and do not want heavy spenders who clear their balance. If they give one to me, I will probably try to squeeze 10,000+ through it for 125,000 Avios (costing Lloyds around 650) and will then cancel. If they have sense they will reject me.
I would have love to do that too but unfortunately I rushed in and signed up for the Avios card via the Lloyds route before Avios launched their offer, so I'm only getting the 10K bonus points after spending 1500.

Still, I figured this card would be a keeper, since it does pay double avios for overseas spending, plus I needed a "sorry we dont take Amex" backup other than my debit card. (I get that a LOT in France, where I travel regularly)

I want to get a Tesco card but I'm waiting until new year when their current "win the cost of christmas" offer ends and they offer something more exciting.
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Old Dec 11, 11, 11:32 am
  #115  
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Originally Posted by PanGalactic View Post
You can pay UK Taxes on an AMEX ????????? @:-)@:-)@:-)
No, but you can on a MasterCard.
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Old Dec 11, 11, 11:43 am
  #116  
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Originally Posted by stifle View Post
True, but the cost of liquidity will eat that up. (UK banks are legally obliged to maintain very liquid assets, essentially cash, deposits at the central bank, or government bonds equal to the amount of money which they might have to pay out in the next eight days, and this includes available credit on credit cards. Because the interest rate paid on these liquid assets is tiny, this liquidity requirement costs the banks money.)
I bet its still more than the interest they pay me on my savings

Should I be expecting a lowering of credit limit soon if I'm only likely to use 5% of what they gave me?

Originally Posted by stifle View Post
Yes it is; banks can choose whom they do and don't wish to do business with. The outcome of a credit application does not show on your credit record in the UK in any case.
I would have thought it would be kept for fraud detection.

Originally Posted by stifle View Post
I don't think there is such a limit. American Express-issued cards do sometimes have a limit, but this card is issued by Lloyds.
There is definitely a limit for Amex.
I know because I have a Corporate Plat and a personal BA Amex.
I asked if I could get a personal Plat too and they said, no max 2 per customer.

Lloyds will only let you have 1 credit card, I know this because Mrs P has a useless Lloyds non avios mastercard at the moment (got letter to say it was cancelled 24/11) but still shows on her online account and blocks her from getting a bonus offer on Lloyds avios card. It lets her choose to switch to it, but clearly states no bonus of any kind. Not like she would be going the Lloyds direct route anyway.

I read somewhere you have to wait 3 months to reapply, can anyone confirm please?
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Old Dec 11, 11, 11:47 am
  #117  
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Originally Posted by stifle View Post
No, but you can on a MasterCard.
I owe you a beer!

Maybe a bottle of champagne, hell I owe you a magnum
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Old Dec 11, 11, 12:13 pm
  #118  
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Originally Posted by PanGalactic View Post
I bet its still more than the interest they pay me on my savings

Should I be expecting a lowering of credit limit soon if I'm only likely to use 5% of what they gave me?
It's quite likely. You could always buy a few flexible tickets to use up the limit and get them refunded within one statement cycle, if you're afraid of it.
Originally Posted by PanGalactic View Post
I would have thought it would be kept for fraud detection.
Might be kept by the individual bank but it is not on your credit file.
Originally Posted by PanGalactic View Post
There is definitely a limit for Amex.
I know because I have a Corporate Plat and a personal BA Amex.
I asked if I could get a personal Plat too and they said, no max 2 per customer.
Well, I have three Amex cards, so I wonder whether you just got a bad phone agent.
Originally Posted by PanGalactic View Post
Lloyds will only let you have 1 credit card, I know this because Mrs P has a useless Lloyds non avios mastercard at the moment (got letter to say it was cancelled 24/11) but still shows on her online account and blocks her from getting a bonus offer on Lloyds avios card. It lets her choose to switch to it, but clearly states no bonus of any kind. Not like she would be going the Lloyds direct route anyway.

I read somewhere you have to wait 3 months to reapply, can anyone confirm please?
These are acquisition offers, which I suppose is why Lloyds doesn't offer them to existing customers. I believe (but am not sure) that you can reapply straight away but you will only get a bonus if the card has been fully closed for three clear months before you reapply.
Originally Posted by PanGalactic View Post
I owe you a beer!

Maybe a bottle of champagne, hell I owe you a magnum
Don't get overexcited, there's a surcharge
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Old Dec 11, 11, 4:32 pm
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[
Originally Posted by PanGalactic View Post

There is definitely a limit for Amex.
I know because I have a Corporate Plat and a personal BA Amex.
I asked if I could get a personal Plat too and they said, no max 2 per customer.
Up until the start of the month I had 4. Green Charge Card, Platinum Credit Card, BA Amex PP Card and MBNA Amex AAdvantage card. I cancelled the Green and Platinum as I could see there was no point in keeping them in light of the fee increase on the PP card.

Llyods would have approved me while the other cards were still active so that would have made 5 for a week or so!
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Old Dec 12, 11, 3:04 am
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Originally Posted by dddc View Post
[

Up until the start of the month I had 4. Green Charge Card, Platinum Credit Card, BA Amex PP Card and MBNA Amex AAdvantage card. I cancelled the Green and Platinum as I could see there was no point in keeping them in light of the fee increase on the PP card.

Llyods would have approved me while the other cards were still active so that would have made 5 for a week or so!
Amex has a limit - 2 charge and 2 credit? In your case, you have 1 charge and 2 credit. The MBNA card is immaterial as it is MBNA's money at risk, not Amex's.
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