Raleigh Finance

Dec 31 2017

Lloyds Bank – UK Credit Cards – 40 Month Balance Transfer

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LLOYDS BANK PLATINUM CREDIT CARD Our Longest 0% Balance Transfer

How much does this card cost?

This credit card has an annual fee of 0.

Interest rates

Outside of introductory promotional periods, the interest you pay on transferred balances, cash transactions, and purchases is 19.94% (variable) if you qualify for the lowest rate and either 21.94% (variable) or 27.95% (variable) if you do not.

Outside of introductory promotional periods, the interest free period on purchases is up to 56 days if the full balance is paid off by the due date on both your previous and latest statement.

Fees and charges

Outside of the 90-day introductory offer period, the fee for balance transfers is 3%.
The fee for cash transactions is 3% or 3, whichever is the biggest.
The fee for foreign currency transactions is 2.95%.

What will be paid off first?

Your monthly payments will pay off balances with the highest interest rate first, in this 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).

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 0845 606 2172. Lines are open 24 hours a day, 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:

For a purchase of 1,000 on your Lloyds Bank Platinum Balance Transfer Credit Card.

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?

How much interest will you be charged in the second year?

How long would it take to clear the balance?

18 years 5 months

2 years 2 months

The above example assumes the following:

  • Any promotional offers are excluded.
  • The transaction takes place on 1st January and you make no further transactions.
  • You always make the payment each month on the 15th.
  • Your statement is produced on the 1st of each month.
  • You are on the best rate available for this card.

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.

Our responsibilities – and yours

Responsible lending

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.

A note on fraud

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.

You can apply for this credit card if:
  • you re aged 18 or older
  • you re a resident in the UK
  • you have a regular income
  • you re free from any County Court Judgements, you aren t currently bankrupt, and you re not subject to an Individual Voluntary Agreement.

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. We also subscribe to the lending code. Details can be obtained from www.lendingstandardsboard.org.uk. Visit the Lending Standards Board website

Lloyds Bank plc registered office:
25 Gresham Street,
London EC2V 7HN.
Registered in England and Wales No. 2065.

We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.

How much we lend and the issue of a credit card depends on an assessment of your circumstances. You must be 18 or over and a UK resident to apply.

Terms and conditions apply to all Lloyds Bank credit cards benefits. Full details will be sent with your card. After each introductory period ends you will be charged at the appropriate standard rate.

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