If you're struggling to make repayments on your credit card account or you would like more information on how you can manage your credit card, we can help. Here are our top tips on how to manager your credit card and get back in control of your finances.
When applying for a Lloyds Bank credit card you are making a commitment that you can repay the amount of credit borrowed, including any interest charged and stay within your credit limit. You may be tempted to apply for a credit card with a large credit limit but we would recommend that you only apply for a credit limit that you can afford to repay.
Your credit card limit is the maximum amount of money that you are allowed to owe on your Lloyds Bank credit card account. It's important to know what your credit card limit is and ensure that you stay within it to avoid additional fees and charges. If you would like to change your credit limit, this can be reviewed and you can opt to either increase or reduce your credit limit to suit your needs.
To keep control of your credit card payments you must pay at least the minimum payment each month, on time as shown on your statement. You could also set yourself a target of when you want to pay off your balance and then change your payments to fit. If you want to repay the amount you owe on your credit card faster, we recommend that you make more than the minimum payment.
Direct Debits one of the most convenient ways of making payments to your Lloyds Banking credit card. Payments will automatically be taken each month, which will mean you will ensure that you don't miss payments and avoid late fees on your account.
Keep track of the purchases you make on your credit card by keeping hold of your receipts. You will be able to use them later to check against your credit card statement to make sure that the transactions are correct. If you see any transactions you think maybe incorrect or any duplicate transactions on your statement, we may be able to help you raise a payment dispute on your account.
There are a number of interest rates, fees and charges that apply to credit cards. Understanding how these apply to your credit card could help you avoid additional fees and charges being applied to account. You can find out more in our handy guide.
We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.
To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.
Keeping on top of your money can be tough, we're here to help you manage your finances and help you get back in control.
You can get help and support from us if:
Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065 Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Visit the Lending Standards Board website
Lloyds Bank plc registered office:
25 Gresham Street,
London EC2V 7HN.
Registered in England and Wales No. 2065.
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