The recent collapse of Icesave resulted in me pondering the future of my bank accounts.
Posts about Money
They say a week is a long time in politics. Maybe they should add a new one - a week is a long time in banking during a credit crunch.
I had hoped that my exposure to the whole credit crunch/banking crisis would be limited at watching my HBOS shares slide and slide before being effectively forced into agreeing to a takeover by Lloyds TSB. Shares I'd got for free - bar the fact that I'd decided things couldn't really get any worse, so why not take up the rights issue and grab a few more, cos in the long term...
Who would have thought that an angry, ranting post about GE Money, would result in so much feedback? And not all of a good kind...
After all the hassle recently with GE Money, my gut reaction was to close my credit card with them straight away. In the end I decided to give their complaints department the benefit of the doubt and see what happened before taking a final decision. As it happens, they've decided to ditch me before I ditch them.
I came back from holiday to find my July credit card bill from GE Money. Not an amazing occurrence - such things happen all the time. This time was different for it featured a "Late Payment Charge" and a wad of interest. Which rather annoyed me, because I'd just set up a direct debit for the account so that every month, the full balance would be paid off. When it comes to credit cards, I'm the annoying person that the banks hate because I always - and I mean always - pay off my bill.
There's an article on BBC News Online about the decision by Lloyds TSB to impose a £35 annual charge on credit cards account holders who don't use their cards.
Well it's been over a year since my last rant about the Alliance and Leicester's incompetence, and you may be glad that this will be the last one ever. For today the last accounts were closed.
Step 1: go to cash machine, and insert cash card.
I recently got an Egg Money card thanks to Mint stopping its Cashback, and Lloyds TSB deciding to ditch Accucard (again, losing cashback in the process).