Lloyds Bank raises 0% balance transfer term | Product News | moneyfacts.co.uk

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Lloyds Bank raises 0% balance transfer term

Lloyds Bank raises 0% balance transfer term

Category: Credit cards
Date: 30/10/2017

Lloyds Bank has increased the introductory 0% balance transfer term on its Online Platinum MasterCard and at the same time has cut the balance transfer fee, which is more than enough to earn it a high Moneyfacts rating.

The basics…

The Online Platinum 33 Month Balance Transfer MasterCard now boasts an introductory interest-free term of 33 months on balance transfers, and has reduced the respective fee to just 0.57% following a partial refund.

The finer details…

A balance transfer must be made within the first 90 days in order to qualify for the 0% deal, but if this is made by 27.11.17, borrowers can benefit from an additional incentive of £20 cashback. After the introductory offer has come to an end, balance transfers will be charged at a standard rate of 18.94% per annum.

The card also offers a slightly reduced 0% purchase term of three months, after which standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years old and should apply online. Applicants should remember that rates are representative and dependent on credit ratings.

Why we like it…

The boost to the interest-free deal for balance transfers ensures that this card holds its own in its sector, and the addition of a highly competitive balance transfer fee only adds to the appeal, comfortably earning it a high Moneyfacts rating.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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