Lloyds bank moving credit cards from Mastercard to Visa.

[ChubbyPuffling]

Had an email message this morning and to paraphrase - we are moving you from mastercard to visa (small print - "if you’re eligible")
Tough if you don't want to. Tough if it inconveniences you with online payments set up or apps/shops/suscriptions/annual payments which have your cc details linked - which you have a whole 6 weeks to change.

Why?

I know I'm being self absorbed and dramatic, but the current system works for many, why change it, causing inconvenience?

Not quite sure why it would inconvenience you that they have changed their merchant? Obviously it’s to do with their own operational costs - that’s the why.

At most they’re going to issue you with a new card, if not they will keep your details the same until you’re due to renew your card.

Not sure where the panic sits.

the whole group is doing this I think, Halifax did it earlier this year.

I have an MBNA credit card that is changing from Mastercard to Visa.
I've had to add the new card number for things I use it for online but AFAIK any regular payments I make using the old credit card will automatically change to the new one.

As part of the process they change the card number, nothing of mine worked after the change, and I am still coming across issues. It is a pain!

Same as @RaraRachael, my MBNA credit card is moving from Mastercard to Visa. I know both are accepted in most places but I already have a Visa credit card with another bank & quite liked having the option of both merchants. I’ve had to change the details on a few online accounts to the new card which is mildly irritating. No regular payments on that card thankfully as IME the automatic transfer is never smooth! (Hope it is for you Rachel!)

edit: spag

I hear you @ChubbyPuffling

I'm with Halifax bank and the whole lot is switching to Lloyds 😭

I know logically that it hopefully won't make a jot of difference - but still - NOOO

I'm Taurean - don't do well with change 😄

Santander went the other way; Visa to Mastercard.

No massive issue. If I needed to update sites with continuous charge authority or with saved details just did it one by one over time.

It is worth having cards on both networks though just in case one or the other goes down.

It’s cheaper for them, will be better for fraud prevention and new products and services will be available to customers apparently. It’s a bit of a pain to change cards on everything but it’s not a big deal really.

nationwide did similar a couple of years ago and it made zero practical diference. You just have to register the new card and it picks up the relevant mc/visa connections, exactly the same as when you get a new card when an old one had been stolen or expired. You are making a fuss about nothing.

Firstly, do not know if i will qualify, and will not know that until my new card arrives, or not - in a couple of months. (Now retired)
Secondly, I do all my transactions online with my card (when financially advantageous to do so).

They have said that we need to change card details with all those services - around 40 of them... I pay pretty much everything on credit card, then pay off from current account.

It used to be bad enough when cards expired, but that seems to have relaxed a bit.

Have to check up on a couple of holidays too... deposits paid, rest to be taken from card in a couple of months (guess when change happens). And a concert where you show your credit card that you bought the ticket with, as well as the electronic ticket to prove you bought the ticket from them, not from a tout.

I do feel a tad inconvenienced as I have to do stuff that I would not have to do had the status quo been maintained.

Unless you have a business account they are providing you with a free service and so they are going to cut their costs however they can.

If you don’t want your card to ever change randomly then you can pay for an AMEX

They've already sent me a new card. I think the old one dies at some point in September. They did send an email with the date. So I can check. I have to look through my old statements to see what I pay regularly with the CC. Some things the bank automatically transfer over, subscriptions, I don't think so.
Annoyingly, I've had a Lloyds CC since some time in 80s. It was definitely a Visa card then. So they've changed it twice and back to where it used to be.

People switch credit card providers all the time to get better conditions and rewards. it's really not a big deal.

I worked for a different bank many years ago who did this (and back again a few years later), they tender they accounts out every few years and go with who ever offers them the best deal.

You would have had to update all your details when the card expired anyway so you are just doing it early and with regardless to whether you are eligible. They can review / close / reduce your account anytime anyway, changing card providers won’t change this.

All you have to do is update your card details when prompted. Your direct debits are unaffected because your account number won’t be changing. You don’t need to update 40 websites with your new card number, you can just do this as and when you check out and then it’s done. The deposit stuff - a company will email you to say your payment method needs to be updated so you give them the new details then. Your concert ticket, just bring your old card with you?

I can’t see the problem.

Thanks @LemonGrapefruit. I already have a Visa debit card so don't really want 2 although there's not a lot I can do about it.