You’ll need about 5 minutes to apply.
Before you start, make sure you’ve got these things to hand:
Successful applicants will get:
Your credit limit will vary based on your individual circumstances
The information contained in this table summarises key product features and is not intended to replace any terms and conditions.
|SUMMARY BOX – Lloyds Bank CREDIT CARD|
|APR||Representative 19.9% APR (variable).|
|Interest rates||Introductory promotional rates||Standard monthly rate (variable) simple %||Standard annual effective rate (variable) %|
|Purchases||0% p.a. fixed for the first 12 months from either your account opening or the date of your account transfer.||1.527%||19.94%|
|Cash transactions||Not available.||1.527%||19.94%|
||0% p.a. on balance transfers you make in the first 90 days fixed for 24 months from either your account opening or the date of your account transfer, on the transferred amount and the promotional fee.||1.527%||19.94%|
|Default charges - the simple annual rate is 18.324%
We will charge you £12 if you do not make at least your minimum payment to us by the payment due date requested on your statement. You will lose your promotional offers if this happens and the standard interest rates for the applicable transactions will apply.
|Interest free period||- Maximum 56 days for purchases.
- No interest-free period on cash transactions.
- There is no interest free period for balance transfers or money transfers (if available) where these are outside promotional offers.
|Interest charging information||We calculate interest daily based on the total amount you owe. We add together all the daily interest amounts in each statement period and add the total to your balance on your statement date.
There are three exceptions to this rule:
- Annual fees: We do not charge interest on annual fees.
- Purchases: We do not charge interest on purchases made during your latest statement period if you pay off your full balance (including any balance transfers and money transfers) by the payment due date and you also paid your previous month's balance in full by the due date.
- Default charges: We do not charge interest on default charges for the first 28 days after the day we give you notice (usually in your statement) that these charges are payable. After that we charge simple interest, so we will not charge interest on interest.
|Allocation of payments||We use your payments to clear any overdue amounts before we apply them to your latest minimum payment.
We will reduce the amount you owe in the following order:
- any overdue amounts from previous statements; then
- the remaining balance on your statement; then
- any recent transactions not yet shown on your statement.
We use your payments to pay off balances charged at the highest interest rate first and so on down to balances with the lowest interest rates. This means the more expensive balances are always paid off first.
If there is more than one type of balance at the same interest rate, they are paid off in the following order: cash transactions, purchases, balance transfers and money transfers, and then default charges (plus any interest or charges incurred as a result of those balances). For each type of balance, your payments will pay off the oldest balance (and related fees, charges or insurance) first.
|Minimum payment||The minimum payment we ask for is charged on a monthly basis and will be the higher of £5 or the total of:
- any interest charged; plus
- any default charges payable; plus
- 1% of the total balance you owe (including interest and charges), as shown in your statement. If you owe less than £5, you must pay the full amount you owe.
|Credit limit||Minimum credit limit||Subject to status.|
|Maximum credit limit||Subject to status.|
|Your credit limit is the total amount you can borrow under the credit card agreement. We set this limit and tell you what it is in writing soon after opening your account. Please see your credit card agreement for any limitations that apply to certain transactions.|
|Annual fee||No annual fee.|
|Fees||Cash transactions (any currency)||3% or minimum £3.|
|Introductory balance transfer fee
||Initially we charge 3% for each balance you transfer in the first 90 days but we'll give you back 1.5% so overall you’ll only pay a 1.5% fee|
|Introductory money transfer fee
|Non-introductory balance transfer fee
||3% of transfer (min £3).|
|Non-introductory money transfer fee
||3% of transfer (min £3).|
|Non-sterling transactions (foreign usage)||Payment Scheme Exchange Rate||Indicative rates can be found at www.mastercard.com/global/currencyconversion/index.html|
|One or more of the following may apply:|
|Non-Sterling transaction fee||2.95% of the amount of the sterling transaction value.|
|Cash transaction fee||3% or minimum £3.|
|Default charges||Late Payment charge||£12.|
|These details are correct as of July 2018.|
Credit cards are designed to be a flexible form of borrowing. Paying the minimum amount every so often can help you manage your money more effectively, although we would not recommend that you make minimum payments for a long period of time once your promotional offers have ended. Once your account is open, you can set up a Direct Debit for any fixed amount over the minimum payment by calling 0345 606 2172. Lines are open 7am-11pm, 7 days a week.
For longer term borrowing it may be more appropriate to choose a loan from us. If you would like to find out more about this you can call Lloyds Bank Personal Loans on 0800 092 6290, or visit lloydsbank.com/loans or call into a Lloyds Bank branch, where our staff will be happy to help.
The following example highlights the difference between only paying the minimum and paying a fixed amount:
|Monthly payment||If you pay the minimum payment each month||If you pay £50 each month|
|How much interest will you be charged in the first year?||£175.30||£150.87|
|How much interest will you be charged in the second year?||£155.17||£61.71|
|How long would it take to clear the balance?||18 years 5 months||2 years 2 months|
The above example assumes the following:
Lloyds Bank is a responsible lender and we only want you to borrow what you can afford and in a way that is best for you. If you’d like to talk to us about the choices you’ve made or you would like further information, please contact us. We will also be able to help you if you’re experiencing financial difficulties.
A full set of Terms and Conditions specific to you will be issued once you’ve been accepted for the Credit Card.
Lloyds Bank is a responsible lender, and we only want you to borrow what you can afford, in a way that is best for you. The outcome of your credit card application depends on our assessment of your circumstances.
If you’d like to talk to us about the choices you’ve made we will be happy to refer you to a member of staff that will be able to help you. They will also be able to talk to you about your options if you’re experiencing financial difficulties.
You won’t have to pay us for any unauthorised postal, telephone or internet transactions made by someone other than you or an additional cardholder. However, you and additional cardholders must take all reasonable measures to protect your cards and PINs. You should never disclose your PIN, not even to Lloyds Bank staff or the police. You can give suppliers your card details (but not PINs) and won’t be liable if they misuse them. However, if you’ve given someone else your card details you are liable for all transactions unless you have told us first they are not authorised.
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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.