Type of Lloyds Bank credit card and how to activate it

Last Updated on February 15, 2024 by admin

When it comes to choosing a credit card, Lloyds Bank offers a range of options to suit different needs and financial situations. Whether you’re looking for a basic card for everyday purchases, a card with enticing rewards, or a card specifically tailored for students or businesses, Lloyds Bank has you covered

Lloyds Bank has a rich history, dating all the way back to the 17th century. They have been providing financial services to individuals and businesses for over 250 years. Established in Birmingham, England, Lloyds Bank has since grown to become one of the largest and most trusted banks in the United Kingdom.

With a reputation for excellence, Lloyds Bank has extended its services to include various credit card options for its customers.

At Lloyds Bank you’ll find a range of credit cards to suit most borrowing needs.  there are questions that demand for answer such as  type of credit card i can apply with the bank? , and what things should you consider? This article should help answer all of those important questions.

Read: How to apply for lloyds bank credit card

Types of credit cards offered by Lloyds Bank, including:

1.Balance transfer credit cards
2. Large purchase credit cards
3. Everyday spending credit cards
4. Cashback credit cards

 

1.Balance transfer credit cards

This card is designed for customers looking to transfer their existing credit card balances to a new card with a low interest rate for a certain period of time. Moving multiple credit card balances onto a single card can make life easier, with one balance to keep track of and one payment to make each month. A balance transfer can help you do this.

You can request a balance transfer from most credit cards and some store cards which display the Mastercard®, American Express® or Visa® logos, but not from loan companies, bank accounts or other Lloyds Bank credit cards.

The minimum transfer amount is £100. There’s no limit to how many transfers you can make, but you must stay within the credit limit of your new credit card. You’ll also need to account for any other transactions and transfer fees yet to be added to the card balance.

What’s the difference between a balance transfer and a money transfer?

Balance transfers are about moving credit or store card balances to a different credit card with another provider. With a money transfer, you can move money from your credit card to your UK-based current account.

 

2.. Large purchase credit cards

A large purchase credit card could help you spread the cost of a more expensive item. This card offers a low introductory interest rate on purchases for a certain period of time, making it suitable for customers who plan to make large purchases and want to spread the cost. Section 75 protection on most purchases of over £100 but not more than £30,000

 

3. Everyday spending credit cards

 

An everyday spending credit card could be a useful way of staying in control of your finances.

  • Usually come with a low interest rate on purchases.
  • Can help you manage your essential expenses and regular bills.
  • Section 75 protection on most purchases of over £100 but not more than £30,000.

lso read: How to register for Lloyds online banking and mobile app

 

4. Cashback credit cards

With cashback credit card you will Earn cashback on purchases with a cashback credit card. The Cashback is normally earned as a percentage of every pound spent on eligible purchases.

You could earn cashback on everyday and larger, one-off purchases. and The total cashback amount is usually credited to your credit card account to reduce the balance.

Here are the benefits you could receive with the Lloyds Bank Cashback credit card:

  • 0.25% cashback on card purchases.
  • No monthly account fee.
  • Representative 22.9% APR variable.

    Credit limits and interest rates may vary and are subject to an assessment of your personal circumstances.

 

5. Lloyds Bank World Elite Mastercard®

Lloyds Bank World Elite Mastercard® is a rewards card that comes with cashback on your everyday purchases, whether you’re at home or away, and a world of travel benefits.

  • 0.5% cashback on purchases totalling up to and including £15,000 in each anniversary year from account opening.
  • 1% cashback on purchases totalling over £15,000 in each anniversary year from account opening.
  • Travel benefits including Priority Pass and Airport Security Fast Track.

£15 monthly account fee.

Credit is available subject to status, to UK residents aged 18 and over.

 

How to apply for a Lloyds Bank credit card

Before you apply, you’ll need to check your eligibility with One Check. One Check will show the cards you can apply for and what credit limit and interest rate you could get. Once you’ve checked your eligibility and found the card you want to apply for, follow the instructions and fill out the rest of the application form.

How to Activate Lloyds Bank credit card

  • You can activate your credit card quickly and securely in mobile app.
  • The main cardholder must activate any additional cards, they can do this online.
  • Once your card is activated you can use it straight away.

For security reasons, you will need to make a Chip and PIN transaction with your new card before you can start using contactless.

 

  1. Select Credit cards, followed by the option Activate credit card.
  2. Check the card details match your new credit card and then select Activate.
  3. All done – your card is now activated and ready to use

How to activate Lloyds Bank credit card with Online Banking

  1. Open our secure online form.
  2. Enter the credit card number, your date of birth and the credit card expiry date and then select Activate.
  3. All done – your card is now activated and ready to use.
Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

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About admin

Ogbeide Frank loves writing and research about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies For Advertisement, Content marketing and sponsored post: contact : kokobest04@gmail.com
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