0% on credit card balance transfers for 24 months with low 1.5% fee @ Lloyds TSB
774°Expired

0% on credit card balance transfers for 24 months with low 1.5% fee @ Lloyds TSB

108
Found 7th Aug 2013
A long interest free period for a small fee compared to other cards.

0% interest for up to the first 24 months on balances transferred within the first 90 days (3% fee)

Balance Transfer fee refund - refunds part of a 3% fee so overall a 1.5% fee is payable.

0% interest on purchases for the first 3 months.

This compares well to the leading Barclaycard offer as only 4 months less (28 months for Barclaycard compared to 24 months for Lloyds) but fee is only 1.5% compared to 3.5%.

The Barclaycard offer with a 1.5% fee is only for 16 months.

(Source: MSE)

Now with possible £25 cashback from MoneyExpert.com, follow link (below) and scroll down until you see the 24 month 0% Lloyds Platinum Credit Card and NOT the 18 month:
moneyexpert.com/cre…34A
- Amerviv

108 Comments

***The standard balance transfer fee of 3% will be applied when a balance transfer is processed. For example, if a customer transfers £1,500 a BT fee of £45 will be applied. We'll refund 50% of that, i.e. £22.50 into the customer's credit card account within 60 days of the qualifying balance transfer completion date. Minimum balance transfer amount is £100.

Dont understand this if its 3% or 1.5%

900000:Unfortunately there has been a technical problem. This transaction has not been completed.

Unable to apply at the moment.

Original Poster

jack0010

900000:Unfortunately there has been a technical problem. This transaction … 900000:Unfortunately there has been a technical problem. This transaction has not been completed.Unable to apply at the moment.



Sorry, I got the link slightly wrong. It should be lloydstsb.com/cre…asp - I've asked a mod to update it.

Cyrus

***The standard balance transfer fee of 3% will be applied when a balance … ***The standard balance transfer fee of 3% will be applied when a balance transfer is processed. For example, if a customer transfers £1,500 a BT fee of £45 will be applied. We'll refund 50% of that, i.e. £22.50 into the customer's credit card account within 60 days of the qualifying balance transfer completion date. Minimum balance transfer amount is £100.Dont understand this if its 3% or 1.5%



Seems simple enough....They take 3% then refund 1.5%. But seeing as you are not paying any interest it won't effect you.

I was wondering if anyone could help?

I recently tried to transfer from my virgin card to a barclaycard and virgin repayment are very low (min is £49 a month) but when I went to barclays card, they take a higher rate and wanted over £110 a month.

Does this lloyds card the same as barclays or virgin for repayments?

Go through comparethemarket for a free meerkat, also a BoS card with the same rates

It's not hard to understand really.

They charge you 3% then refund you half of that. Half of 3 being 1.5

whats the charge for a money transfer?

That's a very good rate - 24 months and 1.5% charge. Heat!

new customers only i assume? They never do deals like this for their existing customers

I've got 6k on an rbs balance transfer deal. This runs out in December.

Should I jump ship or wait for deals closer to December?

HOT DEAL!

ceanth

I've got 6k on an rbs balance transfer deal. This runs out in … I've got 6k on an rbs balance transfer deal. This runs out in December.Should I jump ship or wait for deals closer to December?



To be honest I think you'd be best jumping over right now.

The market could go either way come December as people get more desperate with credit cards for presents etc.

You're still technically getting 21 months 0% interest, even though you'll be paying a 1.5 % fee on the 3 months-worth of minimum payments you would have paid off in this current term it still works out really good.

Can you put overdrafts onto this?

Can you put overdrafts onto this?


No, only credit card balance transfers, afaik.

greenmachine12

Can you put overdrafts onto this?



You really need something called a Money Transfer Card, this allows credit card money to be transfer to a current account.

Another way to do this would be transfer the amount you need onto another credit card via balance transfer option placing this other credit card with a surplus amount on it, you could then take out the money from the credit card in a bank via CASH and obviously a small fee but can then pay off your overdraft with the cash.

Hope I explained it well enough.

other way to clear an overdraft is to do similar to above on another card, so you have positive balance, then use that card for things you usually use debit card for until overdraft is cleared. May take a while, but avoids fees. Even better if you have 0% on purchases (like recent tesco card) then you can just do it all on the one card

greenmachine12

Can you put overdrafts onto this?


You could look into buying travellers cheques with it, then using them to pay off the overdraft.
Check how much it'll cost though.

Credit card application successful!
When your new credit card arrives, please sign it and follow the simple steps to activate it as soon as possible. Once activated, you’ll be able to start using your new card immediately.

ooooooohhhh "£4200.00 credit limit"

Mine was successful with £4800 credit limit but they changed the balance transfer period to 18 months only and 3% fees. Not happy and reject the offer.

ShayKaPow

"£4200.00 credit limit"



Is that it?

only 18 months interest free now

lisamack

new customers only i assume? They never do deals like this for their … new customers only i assume? They never do deals like this for their existing customers


You can close your existing credit card when the 0% offer ends (pay in full or transfer the balance to another card first), then after 6 months you will become a new customer and will qualify for any offers for (new customers only).
I do this all the time and have applied and closed 4 credit cards for Lloyds TSB alone.
If you can't afford to pay in full to close your account with Lloyds then you can jump to the second best deal in my opinion and try to apply for NatWest Platinum Credit Card 0% for 15 month for Purchases or Balance Transfer fees is only 0.9% (which is equal to 0.72% a year):
natwest.com/per…shx
While Lloyds TSB 0% for 24 month at fee of 1.5% (after refund 50% within 60 days) is equal to 0.75% a year.

**WARNING** a couple of posts refer to transferring balances to other cards to create a surplus and then withdraw it to a bank account, a number of card providers have got wise to this loop hole and have adjusted their terms & conditions to say any surplus will be returned to where it came from. Just saying as a financial advisor be careful for this change.

ceanth

I've got 6k on an rbs balance transfer deal. This runs out in … I've got 6k on an rbs balance transfer deal. This runs out in December.Should I jump ship or wait for deals closer to December?


I'd wait until the last month as the 0% offers are becoming more competitive and much cheaper by time, and there are always fantastic offers on the market, I was feeling like you a few month ago when I was about to transfer my balance from Nationwide to Lloyds TSB 0% BT for 21 months at 1.5% fee and I'm glad I waited as my current 0% offer from Nationwide ends in September so will sign up for this card within the last 10 working days to this Lloyds Card or the NatWest Platinum shorter 15 months 0% but cheaper for only 0.9% fee
I'm pretty sure Barclays will have a good offer on BT by December, so my advice to you is to hold on before you say:
"I wish I've waited"

Pspvita

only 18 months interest free now


Still 24 month 0%:
lloydstsb.com/cre…3_8
"Saving - 0% interest for up to the first 24 months on balances transferred within the first 90 days (3% fee)*
Balance Transfer fee refund - refunds part of a 3% fee so overall a 1.5% fee is payable***.

* To stay eligible for promotional rates, you must stay within your credit limit and make your payments on time each month.

**Minimum balance transfer is £100 and is subject to your credit limit. Balances must be transferred within 90 days of opening the account and your promotional period starts from the date we open your account. If you don’t pay off your balance in full, any payments you make will pay off Transactions charging the highest rate of interest first, and so on down to the lowest rate of interest in the following order: Cash Withdrawals, Purchases, Balance Transfers and Cheques, followed by the default charges. Terms and conditions apply to all Lloyds TSB 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.

***The standard balance transfer fee of 3% will be applied when a balance transfer is processed. For example, if a customer transfers £1,500 a BT fee of £45 will be applied. We'll refund 50% of that, i.e. £22.50 into the customer's credit card account within 60 days of the qualifying balance transfer completion date. Minimum balance transfer amount is £100.

Terms and conditions apply to all Lloyds TSB 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.

If you are concerned about your credit rating do not do balance transfer. The rating will go downhill.

"* To stay eligible for promotional rates, you must stay within your credit limit and make your payments on time each month."
This is the most important sentence for applicants to know when applying for most credit cards 0% offers.
To avoid this set a direct debit for the minimum payment of the balance, call the number on the back of the card and ask them to do it as soon as you receive your card, and make sure you stay within your credit limit, as if you miss or forget a payment you will lose the 0% offer and the rate will jump to 17.9% APR and the BT fee can not be refunded. PLEASE BE AWARE !!!

maverik_77

If you are concerned about your credit rating do not do balance transfer. … If you are concerned about your credit rating do not do balance transfer. The rating will go downhill.


Your credit score will go downhill only if you apply for a few cards in a shot time no matter whether your application was successful or not, if you apply for one credit card Purchases or Balance Transfer within about 6 month it won't affect your credit score that much.
Bare in mind that your credit score will go down each time you apply for any bank account, store card, insurance for car, home, pet ...etc. or any loan or finance, as well as credit cards.
If someone has no credit history, (students or young adults for example) then applying for a credit card would help them build their credit score and will be good for them as long as they can avoid being charged the massive interest (pay in full each month), or if they have a fair credit score they might qualify for a good 0% offer, and pay in full or transfer the balance to another 0% offer when theirs run out.
There is no point to have a brilliant credit score and not using it for offers like this to keep it high, it's the same like buying a new car but not using it to keep it new!!

I had a 22months 0% with barclay. I use the credit card and have set up a direct debt to withdraw what I owe them. Improves credit score? I tend to get accepted on any credit card I apply, but they no use to me. minimum payment: loosing money as the outstanding balance stays there.

Its hard to repay once you use alot of the credit... (I know few people who struggle)
Edited by: "ali4u131" 7th Aug 2013

ali4u131

I had a 22months 0% with barclay. I use the credit card and have set up a … I had a 22months 0% with barclay. I use the credit card and have set up a direct debt to withdraw what I owe them. Improves credit score? I tend to get accepted on any credit card I apply, but they no use to me. minimum payment: loosing money as the outstanding balance stays there.Its hard to repay once you use alot of the credit...

You get accepted because they know they can make money from you

DweebDude

You get accepted because they know they can make money from you



Ive been using credit cards for 2-3 years, never paid the banks interest. Like I said i've set up a direct debit. So the credit card withdraws money from my current account every month, hens no charges occur. If i don't pay them the minimum payment come into affect.
Edited by: "ali4u131" 7th Aug 2013

I've got about 8k left on an rbs personal loan, the interest rate is a but naff though, 8.5% roughly any method if transferring the balance on to one of these 0% deals?

buckfast67uk

I've got about 8k left on an rbs personal loan, the interest rate is a … I've got about 8k left on an rbs personal loan, the interest rate is a but naff though, 8.5% roughly any method if transferring the balance on to one of these 0% deals?



Find a card that allows you to transfer to your bank account (MBNA)

mbna.co.uk/cre…1PJ

((4% fee))

. Unsure if you would get a £8k limit though, or if you got a lesser amount, whether you could part pay your loan?

Or stick all your outgoings on a credit card instead of using debit card, and then transfer the balance to this deal

Amerviv

Your credit score will go downhill only if you apply for a few cards in a … Your credit score will go downhill only if you apply for a few cards in a shot time no matter whether your application was successful or not, if you apply for one credit card Purchases or Balance Transfer within about 6 month it won't affect your credit score that much.Bare in mind that your credit score will go down each time you apply for any bank account, store card, insurance for car, home, pet ...etc. or any loan or finance, as well as credit cards.If someone has no credit history, (students or young adults for example) then applying for a credit card would help them build their credit score and will be good for them as long as they can avoid being charged the massive interest (pay in full each month), or if they have a fair credit score they might qualify for a good 0% offer, and pay in full or transfer the balance to another 0% offer when theirs run out.There is no point to have a brilliant credit score and not using it for offers like this to keep it high, it's the same like buying a new car but not using it to keep it new!!


Applying a new card only makes it go down a little for 6 months. If it is a balance transfer and to a 0% interest card it goes down more in the same 6 months. Also it will be reflected in either cases that you are in need of more credit. If you have credit on a 0% card for long (say 12 months) that too reflects negatively on your credit score.
If you are having credit on a card and want a balance transfer it does not make a huge difference. On the other hand just to use it because it is available is not advisable.

maverik_77

Applying a new card only makes it go down a little for 6 months. If it is … Applying a new card only makes it go down a little for 6 months. If it is a balance transfer and to a 0% interest card it goes down more in the same 6 months. Also it will be reflected in either cases that you are in need of more credit. If you have credit on a 0% card for long (say 12 months) that too reflects negatively on your credit score. If you are having credit on a card and want a balance transfer it does not make a huge difference. On the other hand just to use it because it is available is not advisable.


I've been using the 0% credit cards offer for 4 years now, and today I have 3 credit cards on my name only all 0% offers on Purchases and Balance Transfer, and if what you're saying is correct then my credit score should be so down now that Credit Card c companies won't give me credit anymore and I wouldn't have the 3 credit cards offers I have today, last week also Lloyds bank offered me their purchases Credit Card (which will be my 4th active credit card) but I declined their offer as I was waiting for a good BT Card like this one and because I don't need a Purchases card offer at the moment.
It's been very useful for me using these offers as I kept my cash to get paid interests from saving accounts, ex. ISA form Halifax was 4.5% tax free at the time (March&April 2012), also I use Lloyds Vantage Current Account for 5% interest but taxable until 31/Oct/2013 then will be 4% up to 6k.
If you can have more credit you will have more spare cash, then you can use Santander 123 for 3% interest for balance between 3-20k
Now I'm earning £17 a month after tax from Lloyds Vantage for 6k which gives me £408 in 24 month, and will transfer 6k next month to this Lloyds Platinum credit card (instead of paying the 6k balance to my current credit card from my Lloyds Vantage) which will cost me only £90 in fee for 2 years, this will leave me with a profit of £318 after tax just by keeping the money in Lloyds Vantage for 24 month. time this by 3 as I have my personal, joint, and the wife's Vantage accounts, so this is nearly an extra grant a year.
Basically I'm using Lloyds Credit Card's money to make profit in Lloyds Vantage accounts without even using my own money.
There're loads of benefits in using these Credit Cards Offers to make money in any saving accounts give you more than 0.75% after tax,or to save money by paying off (by using the spare cash) higher interest loans on store cards, payday loans, another higher interest credit cards, overdrafts, car finance, personal cash loans, or even mortgages, as long as the interest rates you're charged is higher than 0.75% a year (1.5% for 24 month) which this card charges you.
And I believe that loads of people can benefit these offers if they pay in full or transfer the balance to another 0% credit card at the end of the 0% offer and pay their depts. slowly and cheaply starting from the highest interest rates charges.



Edited by: "Amerviv" 7th Aug 2013

Banned

Seems like a bloody good deal to me.

So is it 18 or 24 months?

x

This only available to new customers then?

ChipSticks

So is it 18 or 24 months? x


24 month as described above.
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