If you miss a payment, in addition to fees and charges, you could lose any promotional rates which apply to your account. If that happens, your standard account interest rates and fees will apply. Missing a payment could also affect your credit score and your ability to borrow in future, so it’s important to keep track and manage your account well.
It’s important that you make at least the minimum payment shown on your statement each month, and that it reaches your account by the due date.
If you’re experiencing difficulties making your credit card payments, please let us know so we can help. You’ll find information and support at our money worries page, or you can call us on 0345 606 2172. Speak to an adviser 8am – 8pm, seven days a week. Not all Telephone Banking services are available 24 hours a day, seven days a week.
You can change your payment due date to better suit your needs, for example, if you usually receive your salary later than your due date falls.
Just be aware, your change may apply to a future payment, rather than the next one, depending when you make your request.
You may be aware that different rates of interest apply to portions of your balance, varying based on transaction type, and whether the standard or a promotional rate applies. To check the rates that apply to your account, refer to your latest credit card statement.
To help you to keep your interest costs to a minimum, payments you make will be allocated to balances with the highest interest rates first, and to those which appear on your monthly statement, before those which will feature on future statements.
If you have a balance at a promotional rate, it’s useful to remember that payments will apply to any standard rate balances first, even if the promotional period is nearly over.
If you have more than one balance with the same interest rate, payments will be allocated in this order:
- Cash transactions.
- Card purchases.
- Balance and money transfers.
- Default fees, including interest and other charges added.
Transactions and related fees or charges will be repaid in date order, starting with the oldest first.
When setting up a Direct Debit, you can choose to make; the minimum payment, clear the full balance or set a fixed amount.
You can make additional payments at any time to reduce your balance and any interest costs, but it’s important to understand how interest is charged and when it applies, especially if you’re planning to pay off your balance in full.
Because interest is calculated daily and charged to your credit card statement when it’s produced each month, you may need to pay an amount of ‘residual interest’. It’s a little complicated, so we’ve created a short guide to explain paying your credit card balance in full.
Mobile Banking: We don’t charge you for Internet Banking but your mobile operator may charge for some services, please check with them. Services may be affected by phone signal and functionality. You must be registered for Internet Banking.
Mobile Banking app: Our Mobile Banking app is available to Internet Banking customers with a UK personal account and valid registered phone number. Our app is available to iPhone and Android users only and minimum operating systems apply, so check the App Store or Google Play for details. Our app does not work on jailbroken or rooted devices. Device registration required.
Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google Play is a trademark of Google LLC. Terms and conditions apply.
Important legal information
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.