Compare balance transfer, rewards, cashback cards and more from Lloyds bank and find the right card for you.
Whether you want to transfer existing debts onto a card to pay at a lower rate, or get a card for day to day spending to build up rewards, Lloyds has several options that may suit you, including low rate cards, suitable for large purchases.
As a large bank, Lloyds also has the security, customer service and global reach to give customers support when it’s needed. There is a reward scheme that helps you turn everyday spending into flights, upgrades and holidays.
Compare Lloyds Bank credit cards
Types of credit cards available from Lloyds
Lloyds has a number of cards to suit a range of financial needs, although fees and rates vary from person to person on application.
Balance transfer
Everyday spending
Rewards
-
Large purchases
Lloyds also recommends certain cards for making large purchases such as buying a car. These cards typically charge a low or 0% interest rate, low charges and low balance transfer fee. Rates offered are obviously susceptible to changes however, and they may vary from person to person.
Lloyds Bank offer several different balance transfer cards which are designed for you to transfer debts or loans that you are paying at an expensive rate elsewhere to a lower rate with Lloyds. They each have different rates and fees as well as various benefits like cash-back available. The rates on transfer cards typically have a very low or zero interest rate for an initial promotional period but there can be a balance transfer fee which varies from card to card.
Lloyds’ everyday spending cards can also double up as balance transfer cards. They typically offer a promotional period of up to 29 months, although this may vary, during which they charge 0% interest rate although there can often be a balance transfer fee. With these cards you can also earn rewards in exchange for purchasing a range of good and services.
These cards are tailored specifically for those that want to get all the reward benefits from a LLoyds credit card. At the moment Lloyds offers a reward scheme with Avios which enables you to convert everyday spending into rewards points. These can then be converted to travel rewards like flights, upgrades, hotels, car hire and other days out. Lloyds suggest that customers spend at least £300 a month to make the card worthwhile, these cards also charge an annual fee.
The benefits of a credit card with Lloyds
If you get a credit card with Lloyds you can enjoy a range of benefits outlined below:
-
Rewards and cashback
Certain cards allow you to earn points on everyday purchases which can be exchanged for travel rewards or cash-back. Rewards include flights, hotels, car hire and upgrades along with days out. Cards with the rewards feature do, however often, come with annual fees so it is worth checking that before applying. They may also require a certain level of spending a month to make the card worthwhile.
-
Mobile payment technology
You can link your Lloyds credit card with Apple Pay or Android Pay to purchase items quickly and easy with your phone, wherever these payment options are available.
-
Online and mobile banking
Lloyds has a modern online management system so you can see your credit card balance, transactions and any other activity associated with your account from any device with internet. It also has mobile banking so you can manage your account from your phone or tablet, bank in branch and get text alerts.
-
Global usage
As Lloyds Banks’ credit cards are all with Mastercard, it should be accepted for purchases in countries across the world.
-
Fraud protection
The bank offers a free service called ClickSafe, which is designed to ensure you are the only person using your card. It can help you feel safer when shopping online because you are protected from fraud.
How to apply for a Lloyds Bank credit card
You can apply for a card online, over the phone or in branch but they recommend doing it online as you receive a decision more quickly. Some card offers are also only available online.
The bank also suggests that when applying you should keep important details to hand such as address, annual income, current bank account details and other credit or store cards you may hold that are not with Lloyds.
Eligibility requirements
Before you apply you should be aware of the basic eligibility requirements. If you don’t match them you will likely not be successful. You can do a quick check of your eligibility for a card, it’s free and will not affect your credit score.
- You must be at least 18 years old or over.
- You must have a regular income.
- You must be a resident of the United Kingdom.
- You are not currently declared bankrupt, have any county court judgements or subject to an individual voluntary agreement.
- You haven’t already applied for a card and been declined in the last 30 days.
If you are not approved, Lloyds Bank suggest going to the three credit rating agencies and asking for a copy of your credit report, although this may require a fee.
Why might you not be approved?
One reason you might not be approved because you do not meet the bank’s specific criteria for a certain card. However you are also less likely to be approved if you have no credit history, or a history of not being able to pay off debt in time, and have missed payments on credit in the past like a mortgage, car or personal loan. You may also be rejected due to other information gathered from your bank account and general finances.
Frequently asked questions
*Disclaimer: The offers compared on this page are chosen from a range of products whose details Finder has access to track; they don't represent all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The terms "best", "top", "cheap" (and variations) are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.
