About Lloyds Credit Card

Lloyds Bank is a major retail bank in the UK, offering a wide range of financial products and services, including credit cards.

About Lloyds Bank

Lloyds Bank began as Taylors & Lloyds in Birmingham way back in 1765. For its first hundred years, it operated from a single office, but in the 1860s Lloyds began to expand rapidly. By the mid-1990s, Lloyds had absorbed over 200 banks.

Today, Lloyds Bank is part of the Lloyds Banking Group whose main subsidiaries include Halifax and Bank of Scotland. Lloyds Bank offers a comprehensive selection of financial products and services, including a range of credit cards.

Lloyds Bank Credit Cards

Lloyds Bank offer a choice of 6 credit cards. They are the not-very-catchily-named:

  • 28 Month Longest 0% Balance Transfer
  • 24 Month Low Fee 0% Balance Transfer
  • 20 Month No Fee 0% Balance Transfer
  • 20 Month 0% Purchase and Balance Transfer
  • Low Rate
  • Classic

 

Each of these cards has different features and benefits and it is important, when selecting a credit card, that you consider what you will be using it for.

The Classic Credit Card may be offered to you as an alternative if you’re not eligible for the others. The other five cards all have benefits if you’re looking to transfer a balance. If you’re looking to make a large purchase, or for everyday spending, consider the 20 Month 0% Purchase and Balance Transfer or the Low Rate credit card.

Lloyds Bank’s selection of credit cards includes balance transfer credit cards, cards for day-to-day spending as well as balance transfers, a low rate card and the Classic card (which may be offered if you don’t qualify for one of the other five Platinum cards).

All the Lloyds Bank credit cards are Mastercard, accepted at over 43 million locations worldwide.

At a glance

  28 Month Longest 0% balance transfer 24 Month Low Fee 0% balance transfer 20 Month 0% purchase and balance transfer 20 Month No Fee

0% balance transfer

Low Rate Classic
APR representative (variable) 19.9% 19.9% 19.9% 19.9% 6.4% or 14.9% 27.9%
Purchase rate p.a. (variable) 0% for the first 3 months (then 19.94%) 0% for the first 12 months (then 19.94%) 0% for the first 20 months (then 19.94%) 0% for the first 6 months (then 19.94%) 6.45% or 14.94% 0% for the first 9 months (then 27.95%)
Annual fee £0 £0 £0 £0 £0 £0
Interest on balance transfers 0% for up to 28 months on balance transfers made in the first 90 days

(then 19.94%)

0% for up to 24 months on balance transfers made in the first 90 days (then 19.94%) 0% for up to 20 months on balance transfers made in the first 90 days (then 19.94%) 0% for up to 20 months on balance transfers made in the first 90 days (then 19.94%) 6.45% or 14.94% 0% for up to 18 months on balance transfers made in the first 90 days (then 27.95%)
Balance transfer fee 3% (minimum £3) 1.5% effective fee on balance transfers made in the first 90 days* (then 3%, minimum £3) 3% (minimum £3) 0% on balance transfers made in the first 90 days (then 3%, minimum£3) 0% on balance transfers made in the first 90 days (then 3%, minimum£3) 3% (minimum £3)

 

*You will pay 3% initially on each balance transfer you make in the first 90 days, but Lloyds will refund you 1.5% back within 90 days of completing the balance transfer.

28 Month Longest 0% Balance Transfer

  • Representative example
  • Representative 19.9% APR (variable)
  • Purchase rate 19.94%
  • Based on borrowing £1,200
  • Annual fee £0

 

Key Features

  • 9% APR representative
  • No annual fee
  • Purchase rate introductory offer 0% for the first 3 months after account opening, then 19.94%
  • Pay 0% interest for up to 28 monthson balance transfers made within 90 days of opening your account, then 19.94%
  • 3% balance transfer fee

 

24 Month Low Fee 0% Balance Transfer

  • Representative example
  • Representative 19.9% APR (variable)
  • Purchase rate 19.94%
  • Based on borrowing £1,200
  • Annual fee £0

 

Key Features

  • 9% APR representative
  • No annual fee
  • Purchase rate introductory offer 0% for the first 12 months after account opening, then 19.94%
  • 5% effective balance transfer fee on balance transfers made within 90 days of account opening (3% initially charged, 1.5% refunded)
  • Pay 0% interest for up to 24 monthson balance transfers made within 90 days of opening your account, then 19.94%
  • Balance transfer fees of 3% after 90-day introductory offer period

 

20 Month 0% Purchase and Balance Transfer

  • Representative example
  • Representative 19.9% APR (variable)
  • Purchase rate 19.94%
  • Based on borrowing £1,200
  • Annual fee £0

 

Key features

  • 9% APR representative
  • No annual fee
  • 0% interest for up to 20 months on balance transfers made in the first 90 days of opening your account, then 19.94%
  • 3% balance transfer fee
  • 0% interest on purchases for the first 20 months after account opening, then 19.94%

 

20 Month No Fee 0% Balance Transfer

  • Representative example
  • Representative 19.9% APR (variable)
  • Purchase rate 19.94%
  • Based on borrowing £1,200
  • Annual fee £0

 

Key features

  • 9% APR representative
  • No annual fee
  • Purchase rate 0% for the first 6 months after account opening (19.94% thereafter)
  • Pay 0% interest for up to 20 monthson balance transfers made within 90 days of opening your account
  • No balance transfer fees on balance transfers made in the first 90 days (then 3%, minimum £3)

 

Low Rate Credit Card

  • Representative example
  • Representative 6.4% APR (variable)
  • Purchase rate 6.45%
  • Based on borrowing £1,200
  • Annual fee £0

 

Key Features

  • 4% APR representative
  • No annual fee
  • Purchase rate as low as 6.45%
  • Interest on balance transfers from 6.45%
  • No balance transfer fees on balance transfers made in the first 90 days after account opening, then goes up to 3%

 

Classic Credit Card

  • Representative example
  • Representative 27.9% APR (variable)
  • Purchase rate 27.95%
  • Based on borrowing £1,200
  • Annual fee £0

 

Key Features

  • 9% APR representative
  • No annual fee
  • 0% interest on purchases for the first 9 months after opening your account, then 27.95%
  • 0% interest for up to 18 months on balance transfers made in the first 90 days after account opening, then 27.95%
  • 3% balance transfer fee

 

Lloyds Bank Credit Cards Summary

All the Lloyds Bank credit cards are Mastercard, widely accepted across the globe.

There is a 2.95% foreign transaction fee and a 3% cash transaction fee (any currency) on all the aforementioned credit cards.

None of these Lloyds Bank credit cards have an annual fee.

Eligibility

You can apply for a Lloyds Bank credit card if you meet the following criteria:

  • you’re aged 18 or older
  • you’re a resident in the UK
  • you have a regular income
  • you’re free from any County Court Judgements, you aren’t currently bankrupt, and you’re not subject to an Individual Voluntary Agreement
  • you haven’t had an application for a Lloyds Bank credit declined in the last 30 days

 

Check Before You Apply

You can check the likelihood of you being accepted for a Lloyds Bank credit card using the handy Credit Card Eligibility Checker on the Lloyds Bank website. You provide a few details and Lloyds Bank will tell you how likely you are to be accepted.

This is a ‘soft search’ which means it won’t harm your credit score – you will be able to see the search if you look at your credit file, but lenders won’t. It only takes around 5 minutes.

Ready To Apply?

If you’re ready to apply, you’ll need the following information to hand:

  • your bank account details
  • your addresses for the last 3 years, including post codes
  • your email address and phone number
  • your annual income
  • any non-Lloyds Bank credit or store cards that you want to transfer a balance from (although this can be done later online or by phone)

 

You can apply online for all but the Classic Credit Card (which may be offered if your application is unsuccessful for the others). The online application process only takes around 10 minutes to complete.

What Happens Next?

You should receive a decision on your application within 5 minutes.

If your application is successful: your new card will arrive in 7 days

If your application is declined: you may be offered the Classic Credit Card as an alternative.

 

What Are Credit Cards?

A credit card allows you to buy now and pay later – it’s a way of borrowing money to buy things, up to an agreed limit, then you pay for them later either in one go or bit-by-bit.

You use a credit card in a shop on online the same way as you would a debit card, but, unlike a debit card (where you’re spending the money that’s actually in your bank account) with a credit card you’re borrowing the money from your credit card provider.

You pay back the amount you’ve spent on your credit card plus any interest and fees.

APR explained

APR stands for Annual Percentage Rate. APR is a way for lenders to show the annual cost of borrowing money. It includes the interest rate and other charges you have to pay (for example any arrangement fee). All lenders have to calculate the APR of their products in a standardised way and must tell you how much the APR is before you sign an agreement. APR can, therefore, be a useful tool when comparing credit products.

One thing to bear in mind is the advertised APR is a representative APR.

Representative APR means over half the people who have taken that credit card have been given that rate. This means 51% of people have been given the advertised rate, but 49% of people could be paying more.

Purchase Rate

The purchase rate of a credit card is the rate of interest you will be charged when you purchase most goods or services using that card. If you pay the credit card balance off in full every month, you will not be charged interest.

What is a Balance Transfer?

A balance transfer is when you move a credit card balance from one credit card provider to another, usually with a lower rate of interest. This can help reduce your monthly credit card payments and/or help you to clear your debt quicker.

FAQs

How can I manage my Lloyds Bank credit card?

All Lloyds Bank credit cards can be managed online, with the mobile banking app, by telephone banking and free text alerts. You also have the option to manage your credit card in-branch.

What happens if I miss a payment?

If you miss a payment you will be charged a £12 fee.

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Company Details
  • Company Name: LLOYDS BANK PLC
  • Registration Number: 00002065
  • Incorporation Date: 1865-04-20
  • Status: Active
Loan Details
  • APR 18.9%
  • Loan Amount £1200
  • Repayment Duration: See Website
Contact Lloyds Credit Card
  • via Phone: 0345 606 2172 Call
  • via Post: 25 Gresham Street, London, EC2V 7HN