Lloyds Bank Classic Mastercard review September 2019
Discover whether this all-round credit card is suitable for you.
0% interest on balance transfers
0% interest on purchases
|Balance transfers||0% for 18 months reverting to 27.95%|
|Balance transfer fee||3% (min. £3)|
|Purchases||0% for 9 months reverting to 27.95%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£500|
|Max credit limit||Not specified|
|Additional cards available||1|
This Lloyds Bank credit card offers introductory 0% deals on both purchases and balance transfers – handy if you’re planning a significant expenditure and want to spread the cost, or if you’re looking to cut the interest on existing credit card debt.
There are longer 0% deals on the market however (provided you can get approved), and with a high standard rate after the 0% introductory periods have expired, this card may not be suitable for those who need a little longer to clear card debt or who anticipate carrying a card balance from month to month.
On the plus side, cardholders don’t have to pay an annual fee and are entitled to access the Mastercard Priceless Cities programme.
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 (Branch) Classic Mastercard
If you’ve compared cards and want to apply, you’ll need to head to a branch, as this card is not available online. Check that you meet the eligibility requirements and have photo and address ID with you to make the process as straightforward as possible.