Lloyds Bank Platinum Longest 0% Balance Transfer Mastercard review August 2020
Only available online, this card has the longest 0% balance transfer deal currently available from Lloyds.
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|
However, if you think you might need to add to your debt soon after account opening (or if you’d simply like the option), you can also take advantage of this card’s 6-month introductory interest-free period on purchases.
Don’t overlook the card’s balance transfer fee of 3% for 3 months reverting to 5%, and remember that if you don’t clear your balance in full within the 28 months, any outstanding balance will start to accrue interest at the card’s standard rate. It’s also important to note that if you miss a repayment, or go over your agreed credit limit, you’ll lose your promotional rate.
It’s quick and easy to check your eligibility for this product on the Lloyds Bank site. If you don’t qualify, Lloyds may offer you its Classic credit card (which has a higher rate) as an alternative.
As this card is on the Mastercard network, 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?
How to apply for the Lloyds Bank Platinum Longest 0% Balance Transfer Mastercard
If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, use the eligibility checker tool on the Lloyds Bank website 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. In most cases you will get an instant response.