Lloyd’s Bank credit cards provide solutions for a wide variety of clients. We’ve decided to look into the Lloyds Bank Large Purchase Credit Card because it is one that could be handy for many people. This card will help you make a large purchase without having to pay for it all at once.
This is actually a pretty common problem when it comes to large purchases. Maybe you need to have that roof replaced right now, but you need time to pay for that roof. With a large purchase credit card you can pay in increments.
This Lloyds Bank credit card is available exclusively online, and its main attraction is that it has a very low interest rate compared to other cards in the market. This is in regards to cash transactions, transfer balances and other purchases. Although when it comes to cash advances, you will be charged a small fee.
Features and Benefits of the Card
Do Everything Online
Isn’t it so nice that nowadays you rarely have to visit a branch in order to take care of your banking needs? Well, with this credit card, you have access to all the information you ever needed right on your smartphone or laptop.
Keep track of your statements and purchases, plus your credit score by using the online portal for all your banking needs.
It’s important to note that you will not be liable for any transactions that took place on your account due to a security breach. So you can rest easy knowing that if any fraudsters try to hack into your card, you won’t be on the hook.
You can make easy payments whichever way you wish to make them using the card. There are direct debits to your account, from any location.
Fees and Charges
The Lloyds Bank Credit card will attract the following charges.
- Annual fees – there are no annual fees on the card
- Balance transfer rate – this is charged at 9.94%
- Balance transfer fee – charged at 5%
- Purchases – at the rate of 9.94%
- Interest free period – up to 56 days from getting the card.
- Cash advances – charged at 9.94%.
- Minimum payment per month – either 2.5% of the amount used, or a flat rate of £5 whichever one is higher. This is the default fee and the charges plus an additional 1%.
- Foreign usage charge – This is charged at 2.95%
- Late payment fee – you will be charged £12 if you delay with your payments.
How to Apply for the Card
You will be required to log in to the company website, and provide your personal information such as your name, address, income information, among other details that will be required of you. However, ensure that you meet the following criteria even before you start the application process.
- You must be a UK citizen.
- You must have a current UK address, and if you have moved in the last 3 years, you should provide the previous address.
- You should provide your Lloyd Bank’s account number.
- You must be above 18 years.
- Must prove that you receive a regular income.
- You must not have declared bankruptcy directly, and should not have any country court judgement.
- You shouldn’t have applied for a credit card and been declined in the last month.
Log in to the company website to fill out your application form and receive more information about the Lloyd Bank Credit Cards.
- Telephone contact – 0800 096 9779 or +44 170 227 8270 if you are calling outside the UK.
- Mailing address
- Group’s headquarters
- 25 Gresham Street
If you have been thinking of applying for a Lloyd bank credit card, we hope that the information we have provided above will help you make an informed decision on whether or not it is right for you. And remember to research other cards before you make your final choice.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.