Partner firms of its Create Services division have received a letter from the bank stating that its credit card strategy is under review and it will not allow more spending on marketing, the Mail on Sunday reported.

One partner company reacted by describing this as “the kiss of death for our relationship” according to the newspaper.

The bank has promised to finish the review by the end of March, when it may have to pay compensation in order to end contracts before time.

Of Lloyd’s seven million credit card customers, 200,000 use co-brand cards.

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