Although not available to new customers, the Avios Rewards Mastercard will replace the current Duo Avios American Express and Mastercard for existing customers in early 2019.
Long-time Avios Duo customers were able to collect Avios currency through purchases on their Mastercard and American Express credit cards. Despite using two different cards, purchases were charged to the same account so customers only received one bill and one Avios statement. Avios points could then be exchanged for flights, hotels, car hire, experiences and upgrades.
What’s changing with Avios Duo credit cards?
The American Express and Avios changes in recent months will have a big impact on Lloyds Avios Duo customers’ rewards and the new Avios Rewards Mastercard will give fewer rewards points.
Instead of two credit cards, Avios Duo customers will be issued just one Mastercard
New PIN for your new Avios Rewards Mastercard
No credit card issued on the American Express network
Earn rate is less than the American Express card, but better than the Mastercard
What’s the Avios earn rate on the new Avios Rewards Mastercard?
Lloyds Avios Rewards customers will earn significantly fewer Avios points than with their Avios Duo American Express card. For example, an Avios Duo customer could have earned 100 Avios if they spent £100 on their American Express card or 20 Avios if they spent £100 on their Mastercard. If they spend £100 on their new Avios Rewards Mastercard, they will receive 40 Avios.
By using the Avios Rewards Mastercard instead of the old Avios Duo American Express card, they are losing out on 60 Avios per £100 spent.
On the flip side, Avios Duo customers who regularly used their Mastercard rather than their American Express will find their earn rate doubled.
Duo Avios Mastercard earn rate
Duo Avios American Express earn rate
New Avios Rewards Mastercard earn rate
Avios on spending
1 Avios for every £5 spent
5 Avios for every £5 spent
2 Avios for every £5 spent
Avios on foreign spending
2 Avios for every £5 spent
10 Avios for every £5 spent
4 Avios for every £5 spent
Avios on balance transfers
1,500 Avios for every £1,000 transferred
1,500 Avios for every £1,000 transferred
2 Avios for every £5 transferred (You’ll get 400 Avios for £1,000)
What’s staying the same?
While Avios Duo customers will be getting a new card, there are some elements of their account which will stay the same.
Interest rate
No annual fee
Credit card terms and conditions
Foreign transaction fees
Your existing Avios Duo credit card balance will be transferred to the new card
Extra Avios for Club Lloyds customers
If you have had a Club Lloyds bank account for six months or more, you will earn extra Avios for balance transfers and eligible spending.
1 additional Avios for every £10 spent
2 additional Avios for every £10 spent in a foreign currency
1 additional Avios for every £10 balance transferred
What happens to my Avios account and points?
Avios closed its Avios Travel Rewards Programme in 2018, although Avios as a currency still exists. Old Avios accounts have been moved over to the British Airways Executive Club.
In future, any Avios customers earn through their credit cards or frequent flyer memberships will be added to their British Airways Executive Club account.
Avios points can be redeemed through the British Airways website, rather than the Avios.com website.
Why is American Express no longer offered with Lloyds credit cards?
The American Express card network has ended its licensing agreement that allows banks in the EEA to issue their cards. In future, you can only open American Express cards in the UK directly through American Express.
Pros and cons of new Avios Rewards Mastercard
Pros
More Avios earned on Mastercard purchases and foreign transactions
Only one card to carry instead of two
No annual fee
Cons
Fewer Avios earned than American Express purchases and foreign transactions
Fewer Avios earned on balance transfers
Need to change existing credit card direct debits to new card number
Foreign transaction fees
Can I earn more Avios elsewhere?
These changes to the Lloyds Avios credit card may make many customers decide to change their credit card to a more lucrative rewards program.
The British Airways American Express credit card has an earn rate of 1 Avios per £1 spent, compared to the Avios Rewards rate of 1 Avios per £2.50 spent. Alternatively, you could earn 0.75 Virgin Atlantic Flying Club miles for every £1 spent on a Virgin Atlantic credit card.
Keep using your Avios Duo credit cards until you receive your new Avios Rewards Mastercard and PIN in the post. Once you have your new Mastercard, destroy your old Avios Duo cards.
No. However, Lloyds may change its mind in future about offering the Avios Rewards Mastercard to new customers.
By logging in to the British Airways website.
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Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
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