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.
Lloyds Bank Platinum 28 Month Balance Transfer Credit Card review
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: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on balance transfers
0% interest on purchases
|Balance transfers||0% for 28 months reverting to 19.94%|
|Balance transfer fee||3% for 3 months reverting to 5%|
|Purchases||0% for 6 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|
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.
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?
Compare Lloyds Bank credit cards
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.