Lloyds Bank Platinum 28 Month Balance Transfer Credit Card review

Last updated:  

This card is no longer available, but you can use this page to compare alternatives.

As of April 2019, this card has been discontinued and is no longer available. However, this information has been kept for historical purposes. You can use this page to browse the range of credit cards currently available from Lloyds Bank and to compare similar cards from other issuers.You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).

19.9%

Representative APR

28 months

0% interest on balance transfers

£0

Account fee

6 months

0% interest on purchases

Details

IssuerLloyds Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 28 months reverting to 19.94%
Balance transfer fee3% for 3 months reverting to 5%
Purchases0% for 6 months reverting to 19.94%
Purchases interest-free periodUp to 56 days
Cash advances19.94%
Min credit limit£0
Max credit limitNot specified
Additional cards available1

Expert review

Chris Lilly

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

If you have outstanding credit card debt, this promotion could offer a lengthy break from paying interest on it. You’ll need to transfer the balance(s) within the first 90 days (during the application you’ll be able to specify details of any balances you’d like to transfer) to secure that 0% rate, and each transfer will incur a fee of 3% for 3 months reverting to 5%.

Don’t forget that if you haven’t cleared your balance by the end of the 28-month period, any outstanding debt will start to accrue interest at the card’s standard rate.

As an added bonus, the card comes with an introductory 0% period on your purchases too, so if you’re anticipating a large upcoming expenditure, you’ll be able to spread the cost over 6 months.

The length of the card’s 0% period and the rate it reverts to afterwards are “subject to status”, meaning that you may be offered a shorter 0% and/or a higher rate, depending on Lloyds’ assessment of your circumstances. In some cases applicants may find they are offered the bank’s Classic Card instead.

The card is issued on the Mastercard network, so it’s accepted in more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.

How does this card compare with other similar cards on the market?

Table: sorted by representative APR, promoted deals first
Data indicated here is updated daily
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Link
The NatWest Balance Transfer Credit Card (eligibility criteria apply)
0% for 18 months reverting to 19.9%
0.49%
Transfers must be made within 3 months of account opening
0% for 3 months reverting to 19.9% p.a. (variable)
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable), your representative rate is 19.9% APR (variable).
Go to site
More Info
M&S Bank Transfer Plus Mastercard
0% for 25 months reverting to 19.9%
2.85% (min. £5)
0% for 3 months reverting to 19.9%
£0
19.9% (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Check eligibility
More Info
The Royal Bank Balance Transfer Credit Card (eligibility criteria apply)
0% for 18 months reverting to 19.9%
0.49%
Transfers must be made within 3 months of account opening
0% for 3 months reverting to 19.9% p.a. (variable)
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable), your representative rate is 19.9% APR (variable).
Go to site
More Info
M&S Bank Shopping Plus Mastercard
0% for 16 months reverting to 19.9%
2.9% (min. £5)
0% for 18 months reverting to 19.9%
£0
19.9% (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Check eligibility
More Info
HSBC Balance Transfer Credit Card
0% for 25 months reverting to 21.9%
1.5% (min. £5)
0% for 3 months reverting to 21.9%
£0
21.9% (variable)
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Check eligibility
More Info
HSBC Purchase Plus Credit Card Visa
0% for 18 months reverting to 22.9%
2.9% (min. £5) for transfers in first 60 days
0% for 18 months reverting to 22.9%
£0
22.9% (variable)
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
Check eligibility
More Info
first direct Credit Card
0% for 27 months reverting to 18.9%
2.29% (min. £5) for 3 months reverting to 2.9% (min. £5)
18.9%
£0
18.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
More Info
HSBC Premier Credit Card
0% for 18 months reverting to 18.9%
1.4% (min. £5)
0% for 9 months reverting to 18.9%
£0
18.9% (variable)
A selection of rewards from a range of partners. Earn 1 point for every £1 spent within the UK and earn 2 points for every £1 spent outside the UK. Points can be redeemed for shopping vouchers and frequent flyer miles.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
More Info
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Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Compare Lloyds Bank credit cards

Table: sorted by representative APR, promoted deals first
Data indicated here is updated daily
Name Product Purchases Balance transfers Annual/monthly fees Rep. APR Incentive Link
Lloyds Bank Platinum Low Rate Mastercard
9.94%
9.94%
(5% fee)
£0
9.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.94% (variable) p.a., your representative rate is 9.9% APR (variable).
More Info
Lloyds Bank Platinum 0% Purchase and Balance Transfer Mastercard
0% for 17 months reverting to 19.94%
0% for 17 months
(2.99% fee)
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
More Info
Lloyds Bank Platinum Low Fee 0% Balance Transfer Mastercard
0% for 9 months reverting to 19.94%
0% for 22 months
(1.99% fee)
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
More Info
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Compare up to 4 providers

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0345 606 2191), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply for the Lloyds Bank credit card

If you have compared cards and want to apply, completing the secure online application form takes about 10-15 minutes. Before you apply, use the “Check your eligibility” tool on the Lloyds Bank site to check that you have a decent likelihood of getting approved, without affecting your credit score. You will need to provide your address details for the last three years. Lloyds states that you should get a response within five minutes.

If your application for this card is not approved, you may find that Lloyds offers you its Classic Card instead.

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