Lloyds Bank Credit Cards: What You Need to Know Before Applying

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With many companies offering different payment methods for the services they provide, it is important to make sure that you have options. LLoyds Bank credit cards are here to provide just that.

In a world where the most common methods of payment include cash and credit card, you need to get a credit card for your financial needs, which can be found at Lloyds Bank. These trusty little pieces of plastic not only allow you to conveniently pay for your expenses but also give you a little leeway. Moreover, you can also enjoy a whole lot of perks and rewards.

However, keep in mind that the quality of the perks and rewards you will be getting will depend on the specific card you choose to work with. If you are looking for a variety of cards to choose from, check out what Lloyds Bank has to offer in that department.

Benefits & Features of a Lloyds Bank Credit Card

Lloyds Bank offers a wide variety of options for you to check out. One of the best things about the bank’s offers is that it offers the best rates for its customers. The 0% Purchase and Balance Transfer Credit Cards does not charge interest for 20 months. This applies for balance transfers made within a 90-day period after the account opening.

Meanwhile, the Low Fee 0% Balance Transfer Credit Card does not charge for interest on balance transfers for up to 24 months for transactions made within 90 days after the card issuance. You will also enjoy half the normal rate on balance transfer fees for those made within the same period.

The Longest 0% Balance Transfer Credit Card allows you to pay 0% for up to 28 months for transactions made within the first 90 days of the account activation. Moreover, the No Fee 0% Balance Transfer allows you to enjoy zero-rate transactions for 20 months for those made within the same period without a fee. Lastly, the Low Rate Credit Card comes with a low-interest rate and no balance transfer fees.

The Classic Credit Card with a higher APR is offered for individuals ineligible for Platinum Credit Card options. You can use these Mastercard options at more than 43 million locations across the globe. In addition, you can also apply for a supplementary card.

Lloyds Bank Credit Card Cons

Before you avail any of these offers, you need to know whether your option will have drawbacks that you are not willing to face. Lloyds Bank reminds its clients that they may lose their promotional offers if they go over the credit card limit. The promos will also become invalid if cardholders fail to pay their dues on time. Moreover, the bank only allows balance transfers to Lloyds Bank accounts from cards with Mastercard, Amex, or Visa logos.

Lloyds Bank Credit Card Offers

Should you decide to get a Lloyds Bank Platinum Credit Card, you have a few options to choose from.

These include the 0% Purchase and Balance Transfer Credit Card, Low Fee 0% Balance Credit Card, Longest 0% Balance Transfer Credit Card, No Fee 0% Balance Transfer Credit Card, and Low Rate Credit Card. The bank also offers the Classic Credit Card.

Lloyds Bank Credit Card & Balance Transfers

Most of the Lloyds Bank Credit Cards are focused on offering the best introductory deals for balance transfers. It offers 0% interest for a specific number of months for transactions made within the promotional period. Moreover, the bank gives 0% fees for some cards during the promotional period.

Lloyds Bank Credit Card Eligibility

You can check your eligibility using the bank’s eligibility checker. This requires you to enter your full legal name, contact details, date of birth, marital status, and nationality. You also have to disclose information regarding your residency status, income, employment, spending and expenses, as well as your existing Lloyds account.

To avail of this card, you must be 18 years old or older and a UK resident. You must also not have any county court judgments, bankruptcies, or any individual voluntary agreements. Individuals who have been declined a Lloyds Bank Credit Card in the past 30 months are not eligible to apply.

Lloyds Bank Credit Card Application

Interested in getting this card? You only need to head over to the Lloyds Bank website then choose the best credit card for you and click on the ‘Apply now’ button. To make the process a lot easier, make sure that you have proofs of identity, residence, and employment with you. You might also need your latest bank statements or salary slips.

The application process can take around 10 minutes. Don’t worry, your information will be kept safe by the bank. You can expect a decision from the bank in just 5 minutes.

Lloyds Bank Credit Card Activation

If successful, you can have your new credit card within 7 days. After you receive the card, you can activate it on the bank’s website. You may need to set up your credit card by entering your card number, date of birth, and expiry date. For those who have already set up their Internet banking, you can simply log in to your account and activate the card from there.

You can also activate your card by visiting a branch near you, using the bank’s mobile app, or by using their Telephone Banking service. Any of these methods are good and reliable. For direct communication, read on to find the bank’s contact details.

Lloyds Bank Credit Card Limit

The credit limits for Lloyds Bank credit cards vary depending on your creditworthiness. Keep in mind that your creditworthiness can be based on your financial, credit, and employment status. The bank may also consider your expenses and spending.

Lloyds Bank Credit Card APR & Charges

  • Annual Fee – All credit cards have an annual fee of £0
  • Annual Percentage Rate – For the 0% Purchase and Balance Transfer, Low Fee 0% Balance Transfer, Longest 0% Balance Transfer and No Fee 0% Balance Transfer Credit Cards have 19.94% APR; the Low Rate Credit Card has 9.9% APR for balance transfers, cash transactions, and purchases for qualified individuals while unqualified people get 16.94%; the Classic Credit Card has an APR of 27.9%.
  • Late Payment Fee – £12 for all cards
  • Balance Transfers – All credit cards have a 3% balance transfer fee except for the No Fee 0% Balance Transfer Credit Card.

Lloyds Bank Credit Card App & Online Banking

The bank allows for easy account management using online and mobile banking. Just make sure that you have an Internet banking account. Then, simply login to the website or the app.

Already a Lloyds Bank Customer?

Below is some additional information on how you can better manage your Lloyds Bank Credit Card.

Lloyds Bank Address & Contact Details

You can get in touch with the bank through a phone or branch visit. Find the nearest branch using their Branch and Cashpoint Locator. Call PhoneBank at 0345 602 1997 to talk with a representative.

Lloyds Bank Online Login

To easily manage your account, simply register for the Internet Banking service. Head over to the login page to access your account. From there, you can view your balances and set up your account.

Lloyds Bank Credit Card Payment Options

You have the option to pay in full, make minimum payments, or make a fixed amount or percentage. The bank recommends that users set up a DirectDebit. This enables customers to automate their payments.

The minimum monthly payment is at least £5 or interest charged, default charges, and 1% of your total owed balance.

How to Cancel a Lloyds Bank Credit Card

For lost or stolen cards, you can use the website to report the incident. You can also call 0800 096 9779 or drop by a branch near you to cancel your card. This also applies if you simply want to cancel the card.

Conclusion

Lloyds Bank has a lot of valuable offers you can avail of. If you are looking for the best deals, then their cards should be on your list. To apply, simply visit their website or drop by the nearest branch.

Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.