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February 22, 2007

Lloyds starts credit card fees

Customers at Lloyds TSB will be charged if they are not using their credit cards enough, it has emerged.

The bank, which is expected to report £3.7bn in annual profits on Friday, up seven per cent on last year, has written to customers who do not use their cards very much explaining that they will have to pay an annual fee of £35.

The move comes days after the new chief executive of the Nationwide Building Society predicted the end of free banking, saying that a system of annual fees on bank accounts was the best way forward.

Read more at: Lloyds starts credit card fees

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