Lloyds Bank Online Platinum 20 Month Purchase and Balance Transfer Mastercard Review September 2019

Take a breather from interest with a long 0% purchase and balance transfer periods.

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).

20 months

0% interest on balance transfers

20 months

0% interest on purchases

19.9%

Representative APR

£0

Account fee

Details

IssuerLloyds Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 20 months reverting to 19.94%
Balance transfer fee3% (min. £3)
Purchases0% for 20 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

If you’re looking at a significant upcoming expense while trying to clear an existing debt, a multi-purpose card like this could be a smart choice, buying you time to focus on clearing the debt.

As well as a long interest free period from both purchases and balance transfers, there’s no annual fee to worry about, and because it’s on the Mastercard network, you can also enjoy access to Priceless Cities experiences.

Just remember that once the 0% period expires, any outstanding balance will start to accrue interest at the card’s standard rate (see table below).

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

Table: sorted by representative APR, promoted deals first
Updated September 21st, 2019
Name Product Purchases Balance transfers Annual/monthly fees Rep. APR Incentive Representative example
0% for 20 months reverting to 19.9%
0% for 20 months reverting to 19.9%
£0
19.9% p.a. (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).
0% for 18 months reverting to 22.9%
N/A
£0
22.9% p.a. (variable)
Earn 1 Membership Rewards® point for every £1 spent.
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).
0% for 25 months reverting to 20.95%
0% for 25 months reverting to 20.95%
£0
20.9% p.a. (variable)
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 20 months reverting to 19.95%
0% for 20 months reverting to 19.95%
£0
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 3 months reverting to 19.95%
0% for 28 months reverting to 19.95%
£0
19.9% p.a. (variable)
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 3 months reverting to 20.95%
0% for 20 months reverting to 20.95%
£0
20.9% p.a. (variable)
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 22 months reverting to 20.95%
0% for 3 months reverting to 20.95%
£0
20.9% p.a. (variable)
Earn 750 bonus Nectar points each time £35 or more spent on Sainsbury's shopping, up to ten times in your first 2 months, up to a total of 7,500 points, offer available for new customers. Earn 2 Nectar points per £1 spent on Sainsbury's shopping and fuel. Earn 1 Nectar point for every £5 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).

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 Online Platinum 20 Month Purchase and Balance Transfer Mastercard

If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When you make major financial decisions, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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5 Comments

  1. Default Gravatar
    Steven
    February 7, 2019

    Can I have a replacement card, please?

    • AvatarStaff
      Jhez
      February 11, 2019

      Hello Steven,

      Thank you for your comment.

      If your credit card is lost or stolen, you can report this and request a replacement through Internet Banking, or on the move using your Lloyds Bank Mobile Banking app. Simply log on and fill in our short form. Alternatively, you can call Lloyds bank or visit your nearest branch.

      Regards,
      Jhezelyn

  2. Default Gravatar
    Vivien
    January 21, 2019

    Why do you want my bank account details? Do you propose to take money from it for any reason?

  3. Default Gravatar
    Vivien
    December 16, 2018

    how many days do I get interest free on purchases?

    • AvatarStaff
      Joshua
      December 18, 2018

      Hi Vivien,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      The interest-free period of this card is 56 days.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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