Lloyds cuts balance transfer card fee | Product News - Moneyfacts

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Lloyds cuts balance transfer card fee

Lloyds cuts balance transfer card fee

Category: Credit cards
Date: 28/11/2016

Lloyds Bank has reduced the introductory balance transfer fee on its leading balance transfer card. This has secured its place in the Best Buy chart for its sector and once again earned it the highest Moneyfacts rating.

The basics…

The Lloyds Bank Online Platinum 40 Month Balance Transfer MasterCard now has an introductory balance transfer fee of 1.94%, while its introductory balance transfer term remains highly competitive at 40 months from date of issue, and it also still comes with a six-month 0% interest term for purchases.

The finer details…

After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.94% with a 3% fee. Standard purchases will be charged at 18.9% APR.

The card must be opened online, after which it can be managed online, in branch, via smartphone app and over the phone. Borrowers must be at least 18 years old, and should remember that rates are representative and dependent on credit ratings.

Why we like it…

The reduced fee makes this card even more attractive, ensuring its place in the Best Buys and allowing it to retain the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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