The lowest and longest lasting introductory interest rates are usually offered on one primary transaction type, so think about the main reason you need a second credit card.
Card purchases – if you’re planning a larger purchase and need to spread the cost over a number of months, a second credit card could offer that flexibility.
Or, if you’ve got a balance on your existing credit card that you’re focussed on paying off, a second credit card could help you to manage your everyday spending separately.
Just bear in mind, unless a 0% p.a. promotional rate for purchases applies, to avoid paying interest on purchases you need to pay off your monthly statement balance in full every month.
Balance transfers – with a second credit card, you could consolidate credit card balances you hold elsewhere, making your outgoings easier to keep track of. Transfer fees may apply.
At Lloyds Bank, you can transfer balances from most credit cards and store cards which display the Mastercard®, American Express®, or Visa® logos, but not from loan companies, bank accounts or other Lloyds Bank credit cards.
More about balance transfers
Money transfers – with selected credit cards you can transfer funds to your UK current account, helping you to manage cash-only purchases and unexpected expenses. Transfer fees may apply. Just bear in mind, if you make a purchase using money transferred from your credit card to your current account, the purchase will not be protected under Section 75 of the Consumer Credit Act 1974 – unlike some credit card purchases.
More about money transfers