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Credit card rates, fees and charges

If you're unsure about any of the terms that we use to refer to interest rates, fees and charges on your Lloyds Bank credit card, you can find further details here.

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Credit card interest rates explained

There are three main types of interest rates that apply to your Lloyds Bank credit card:

  • Promotional rates on balance transfers, money transfers and purchases
    This can include interest free periods or a low interest rate for the life of a balance on your credit card. Fees may apply on balance transfers and money transfers. To keep any promotional rate, you'll need to make the minimum payment on time each month and stay within your limit
  • Up to 56 days interest free on purchases if you make your payment in full by your payment due date
    If you don't make your payment in full then standard interest rates apply from the date of the purchase until the balance is paid in full
  • Standard interest rates for balance transfers, money transfers, cash advances and purchases
    Standard interest rates apply on balance transfers, money transfers, cash advances and purchases once a promotional period has ended. If you're unsure what interest rate you're being charged please refer to your credit card terms and conditions.
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Credit card fees

There are additional credit card fees that can apply to you Lloyds Bank credit card in addition to any promotional offer you may have on your account. If you are unsure about what fees apply, you can find details of these in your credit card terms and conditions.

These are the most common types of credit card fee:

  • Balance transfer fee
    Transferring an existing balance from one credit card or store card to your Lloyds Bank credit card
  • Card processing fee
    Some companies may charge a fee for using your credit card, for instance gambling transactions, buying postal orders or prize competition entry fees
  • Cash advance fee
    Withdrawing cash from a cash machine can apply fees to your credit card
  • Money transfer fee
    Transferring money from your credit card to one of your existing UK current accounts
  • Using your card abroad
    You may be charged additional fees and interest for making non-sterling transactions or buying non-sterling currency.
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Credit card default charges

A default charge of £12 may be applied to your credit card account. You will be notified of any charges due to be applied to your credit card account on your monthly statement.

These are the most common types of default charge types:

  • Credit limit fee
    If you go over your credit limit at any point during your statement period
  • Late payment fee
    If you do not make at least the minimum payment to us by the due date requested on your statement or miss a payment
  • Returned payment fee
    If you make a payment to us that we are unable to process, this includes a rejected direct debit, cheque with insufficient funds or any other returned payment.

Making sure you get a fair deal

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.

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Money worries?

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:

  • Your personal circumstances have changed, for instance if you've been made redundant or you're dealing with a long term illness
  • You're behind with payments or struggling to pay bills
  • You're using your overdraft up to the limit on frequent basis.