Lloyds TSB has announced that it will no longer provide affinity credit cards for a number of key charities, including Cancer Research UK, the NSPCC and the Scottish SPCA.
The partnerships, inherited from Halifax Bank of Scotland, are no longer seen as cost effective although they have generated considerable revenue for the charities - in the case of Cancer Research UK, this is estimated at £15 million during the life of the programme.
The bank has offered to look at new providers for the charities, but options may be limited with MBNA and Co-operatve banks as the major players left in the charity card market. Given the length of time it can take to create a partnership programme it is hoped that that these discussions are already far advanced.
No comments:
Post a Comment