Friday, Feb 23, 2007
Things are changing in the personal banking world
BBC News: Lloyds introduces credit card fee
Lloyds TSB is to impose a £35 annual charge on credit card account holders who do not use their cards. The annual charge will apply to "low-usage" customers; including people who use do not use their cards at all.
Posted by webmaster @ 10:35 AM (172 views) Add Comment
4 Comments
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1. paul said...
In other news today, bank charge complaints "soar".
No, really.
And this is no surprise. The wheels are wobbling on the property bandwagon and it's a long and costly way down.
2. Albertini Albertino said...
Cancel your cards. Give them a bloody nose.
Lazy greedy banker tossers.
3. japanese uncle said...
What lies ahead is most probably the severest credit crunch that this economy has ever seen. Banks will make every effort to retreave their loans from individual as well as corporate borrowers, to reinforce their financial standing (otherwise they are likely to face their own demise as actually experienced by a few banks in Japan). Literally banks will be stripping their borrowers naked in a cold rainstorm (they are quite happy to offer umbrella in a perfectly sunny day, though). Its as if the universe reaches the ultimately inflated stage, starting to reverse its gear in the process back to the Big Bang.
Not a few of their corporate borrowers will be running short of working capital, and go bust, making a spiral of the situation. Well informed economists in this country may not wish to predict what is likely to happen in this 'hollow' economy with few real elements that genuinely drive it, but just the emotional/atmopheric/wishful elements. Cultural capitals of Europe, heh!. What is really going on is just a few theatrical plays, cut-open sheep soaked in formalin called high arts and the same old drinking spree.
Anyway it is most welcome that this farce will be coming to an end. I am fed up with a sort of de ja vu. Gourmet TV programmes (those who used to be happily gobbling down fryups and beans, are now happy to talk about nouvelle cuisine, etc, etc.,), champaign popping up everywhere, coins left forsaken on the pavements, kids wearing designer dresses, clerks driving Mercedez, everybody buying a house or two, thanks to 'Easygoing Housing Loans' and 'Two-generation Housing Loans' (equivalent to interests only mortgage and 50 year repayment mortgage here, respectively). The same old story, yes perfectly, literally the same.! You don't have to raise an inductive reasoning.
4. monty said...
Strewth JU, and all that because Lloyds TSB want to charge customers for keeping an account they never use? If a card doesn't get used, they don't make any money. It's unsurprising that they would want to charge for a dormant account. It's got sweet nothing to do with a credit squeeze.