Are you on the hunt for a low fee credit card? How about one you can transfer your current balance to? Or a credit card that’s easy to manage and accepted worldwide? Well, if that is the case, we know a card that may fit your needs The Lloyds Bank Low Fee Balance Transfer Credit Card offers all of that and more.
There are so many credit cards to choose from today; the choice can often be overwhelming. However, you can be sure you are getting an excellent card with the Low Fee Balance Transfer Credit Card. Backed by Mastercard®, this card comes with more than just the perks offered by Lloyds Bank.
The Low Fee Balance Transfer Credit Card is here to give you lower fees than you’re currently paying and a smooth balance transfer process. Let’s dig in and find out about the benefits that come with this credit card. In case you want to sign up for this card, we will also tell you how you can apply today.
Features of the Lloyds Bank Low Fee Balance Transfer Credit Card
Once you receive your Lloyds Bank Low Fee Balance Transfer Credit Card, the bank assures you’ll get the lowest offers all the way through your credit card journey. If you’re tired of paying high fees on your other credit cards, then this is the perfect card for you.
So what exactly does “low fee” mean? Well, to start, you can forget about annual membership costs. With this card, there is no annual fee. Second, you’ll pay zero interest for 24 months on balance transfers made within the first 90 days after you have opened and activated your credit card. During that same period, the balance transfer fee is a mere 1.5%.
Furthermore, this credit card is accepted wherever you see a Mastercard® sign, which roughly 43 million locations worldwide.
It is important to note that you could lose these introductory benefits should you go over your credit limit during the offer period. Most accepted applicants are given an initial credit limit of £1,200.
Once the 90-day introductory period is over or revoked, the balance transfer fee goes up to 3%. Further, there is a £100 minimum on balance transfers and they cannot be made from other Lloyds Bank credit cards. The only cards that are eligible to have their balances transferred are those with the Mastercard®, Amex® or Visa® logos. This is important to note if you have a balance on another card.
Lastly, there is a 2.95% foreign currency transaction fee with this card. Therefore, if you travel often, you may want to choose another card to accompany you. Though 2.95% won’t add up to much during a quick weekend getaway, longer holidays may become extra costly with this fee.
How You Can Get the Low Fee Balance Transfer Card
If you are eligible, it is pretty straightforward and easy to apply for this credit card. To be eligible you must be at least 18 years old at the time of application and a UK citizen with a regular income. You must also be free from any County Court Judgements or bankruptcy, and not subject to an Individual Voluntary Agreement.
If you tick these boxes, then you can get started right away online. Simply visit the Lloyds Bank website and fill out the online credit card application form with your personal details and employment information. If your application is successful, the bank will determine your credit limit based on your credit rating and gross income.
It is good to note that if you don’t qualify for the Low Fee Balance Transfer Credit Card, you may still be eligible for the Classic credit card.
Fees and Charges at a Glance
- 0% introductory APR on balance transfers (for the first fifteen months)
- 1.527% or 19.94% variable APR based on your creditworthiness
- £12 late payment penalty fee
- £10 or 5% cash advance fee, whichever is higher
- fee for foreign currency transactions is 2.95%.
- £3 or 3% transaction fee
- £12 over-limit charge
- £0 annual fee
If you are looking for a reliable credit card that offers low fees and interest on balance transfers, the Lloyds Bank Low Fee Balance Transfer Credit Card is a great choice. Visit the Lloyds Bank website and apply today to begin saving money on your credit card balance. However, if you are not convinced that this card is for you, check out other Lloyds Bank credit cards.
Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.