Lloyds Banking Group

Lloyds Banking Group is the largest retail bank in the UK with over 30 million people banking with them or having at least one of their financial products.

The Group was formed when Lloyds TSB acquired Halifax Bank of Scotland – HBOS (Halifax credit cards (and HBOS) are listed separately).

Lloyds has a robust customer service ethic and consistently rates well in customer satisfaction surveys, this in turn leads to a loyal customer base. Lloyd’s credit cards typically offer competitive interest rates and APR’s; they’re particularly strong on anti-fraud measures and have a strong commitment to the customer not being affected by fraud.

Here’s our selection of the best Lloyds credit card deals

Lloyds TSB Platinum MasterCard Credit Card

0% on balance transfers for 15 months & 0% on purchases for 3 mths

3%

17.9% APR

Key points View card rates

0% for 15 months balance transfer offer
Secure online shopping with Clicksafe ®
Internet fraud protection
Competitive APR

No transfers from Lloyds Banking Group cards

Key Selling Point

Good all round package with competitive APR

Balance Transfer Limit £

Subject to Status

ATM £ Cash Charge

3% min. £2.50

Surcharge on Overseas Transactions

2.95%

ATM £ Cash Charge Abroad

3% min £2.50

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

18

Recommended Minimum Income

N/A

Annual Fee

No

Annual interest rate on purchases

17.95%

Annual rate on balance transfers

17.95%

Annual interest rate on cash advances

27.95%

Credit rating needed

Good

Representative example: 17.9% p.a. (variable) on card purchases. Equivalent to 15.9% APR representative (variable) based on a credit limit of £1,200.

Lloyds TSB Advance Credit Card

0% on purchases for 6 months, 4.9% balance transfers for 12 months (min £100 spend)

3%

11.9% APR

Key points View card rates

Great all round deal
0% for 6 months on new purchases
Low interest rate on balance transfers
Low overall APR

Minimum balance transfer £100
Cash advance limit of half credit limit

Key Selling Point

Good quality card because it offers low interest rates all round plus a 6 months 0% on new purchases deal

Balance Transfer Limit £

Subject to Status

Cash Advances

Yes

ATM £ Cash Charge

3% handling fee, min £3

Surcharge on Overseas Transactions

2.95%

ATM £ Cash Charge Abroad

3% min £3

Maximum Credit Limit

Subject to Status

Recommended Minimum Age

18

Recommended Minimum Income

No

Annual Fee

No

Annual interest rate on purchases

11.95%

Annual rate on balance transfers

11.95%

Annual interest rate on cash advances

27.95% p.a.

Credit rating needed

Good

Representative example: 11.9% p.a. (variable) on card purchases. Equivalent to 11.9% APR representative (variable) based on credit limit of £1,200.

Lloyds Credit Card Guide

Threats to your private information from internet fraudsters are evolving all the time, and Lloyds works hard to give you the tools to stay safe when using your credit card to shop online. Standard features on all Lloyds credit cards are:-

1. Lloyds TSB ClickSafe® (also known as Verified by Visa and MasterCard® SecureCode), a free service that gives you an extra layer of security when you’re using your Lloyds credit card to buy or order online
2. If you’re accessing your credit card account information via the Lloyds online portal, it will automatically log you off if you don’t use it for 10 minutes in case you forget to log off or accidentally leave your computer online to your personal data
3. Lloyds uses real-time online fraud detection systems that scan for unusual spending patterns on your Lloyds credit card or bank account
4. Lloyds systems will temporarily disable your online account login if there’s a number of incorrect log in attempts in case fraudsters are trying to guess your account details

Lloyds guarantee to refund your money in the unlikely event you experience a fraud with their Internet Banking or with your Lloyds credit card providing you’ve taken reasonable steps to keep your security information, passwords and PIN safe.

Lloyds credit cards can offer you 56 days interest free credit providing you pay your monthly account off in full on the appointed day. Many credit cards in the market only offer 50 days.

Lloyds Corporate data

What was Lloyds TSB and is now called Lloyds Banking Group plc is a major British financial institution, formed after the (some say ill-advised) acquisition by Lloyds of Halifax Bank of Scotland (HBOS) on the 19th of January 2009.

Lloyds TSB was originally created in 1995, when the Lloyds Bank and the Trustee Savings Bank (TSB) agreed to merge.

Now the acquisition is complete, it’s understood that the Bank of Scotland brand will continue to be used within Scotland and the Halifax and Lloyds Bank brands will continue in England and Wales.

The scale of HBOS’s losses weren’t fully transparent to Lloyds when they agreed to buy the bank, and this was partly responsible for Lloyds having to turn to the Government for help during the banking crisis. As a result of this as at February 2010, HM Treasury held a 41% shareholding in Lloyds Banking Group through its UK Financial Investments Limited arm. Even though clearly a substantial part of Lloyds is now owned by the British Tax payer, it already had the biggest private shareholder base in the country.

Lloyd’s revenues in 2010 were a chunky £23,641 million, down from £23,964 million in 2009. The group returned to profit in 2010 with earnings of £2,212 million after posting a £6,300 million loss in 2009.

With over 21 million savings customers the group currently holds over £200 billion in retail savings deposits and employs over 104,000 people.

Lloyds Banking Group’s activities are organised into four business divisions:-

• Retail Banking including mortgages loans and Lloyds Credit Cards
• Wealth & International
• Life, Pensions & Insurance
• Wholesale Banking

Lloyds does have extensive operations spanning the globe including the in the Middle East and Asia, in the United States and across Europe.