Clear existing card debt faster with Lloyds Bank’s longest 0% balance transfer deal, available exclusively online.
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%.
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 3 months.
This card is 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.
|Balance transfers||0% for 28 months reverting to 19.94%|
|Balance transfer fee||3%|
|Purchases||0% for 3 months reverting to 19.94%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£0|
|Max credit limit||Not specified|
|Additional cards available||1|
|Balance transfer fee||3%|
|Foreign usage charge (EU)||2.95%|
|Foreign usage charge (rest of world)||2.95%|
|Cash advance fee||3% (min. £3)|
|Late payment fee||£12|
|Duplicate statement fee||£0|
|Exceeding limit fee||£12|
|Additional card fee||£0|
|Replacement card fee||£0|
|Availability||Available to new customers|
How does this card compare with other similar cards on the market?
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 Online Platinum 28 Month Balance Transfer Mastercard
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.