Lloyds low rate credit card 5.7% APR
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Lloyds low rate credit card 5.7% APR

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Editor
Found 29th Sep 2017
Lloyds Bank has dropped the rate on its no-frills credit card to just 5.7 per cent APR interest – the lowest rate on the market for a bog standard card for everyday spending.

Instead of offering 0% on balance transfers or purchases for a fixed period and then reverting to an APR of around 18% as other cards do, this card charges a consistently low rate from the off.

This means you won't get caught short if you haven't paid down your balance by the time the 0% offer ends. Instead, you'll pay interest at a much lower rate overall.

You can transfer existing balances to the card – there’s no fee for the first 90 days - but obviously you’d be better off finding a 0% balance transfer card if you have existing debts.

Be aware only those with the best credit scores will qualify for the lowest rate. Others may be rejected or offered a card with an APR of 10.9% or 14.9% APR depending on your circumstances.

In short, this card’s a hot deal if you just want a card with a consistently low rate and not have to worry about promotional deals ending etc. The next cheapest low rate card is AA or Tesco Bank at 5.9%.
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5 Comments
Some cards like marks and Spencer or Clydesdale are offering 28 months interest free, so why would you pay interest from the get go? If you can't budget and pay the balance of in 28 months you shouldn't be getting a card in the first place!
Woogass55 m ago

Some cards like marks and Spencer or Clydesdale are offering 28 months …Some cards like marks and Spencer or Clydesdale are offering 28 months interest free, so why would you pay interest from the get go? If you can't budget and pay the balance of in 28 months you shouldn't be getting a card in the first place!


Santander 30 months 0% on purchases
Woogass1 h, 46 m ago

Some cards like marks and Spencer or Clydesdale are offering 28 months …Some cards like marks and Spencer or Clydesdale are offering 28 months interest free, so why would you pay interest from the get go? If you can't budget and pay the balance of in 28 months you shouldn't be getting a card in the first place!


Usually the cards that have interest free, you have to spend on them within a certain number of days from account opening. I don't know about the ones you specifically mention, but i took out a interest free card for 30 months and only purchases made within first 60 days counted for the free interest for 30 months. Any spending after the first 60 days attracted the usual extortionate rate.

It appears this card may not have any limit on when you make purchases which looks interesting and hopefully others will follow. Heat for that from me.
harmageddon50 m ago

Usually the cards that have interest free, you have to spend on them …Usually the cards that have interest free, you have to spend on them within a certain number of days from account opening. I don't know about the ones you specifically mention, but i took out a interest free card for 30 months and only purchases made within first 60 days counted for the free interest for 30 months. Any spending after the first 60 days attracted the usual extortionate rate. It appears this card may not have any limit on when you make purchases which looks interesting and hopefully others will follow. Heat for that from me.

I have taken many cards let's say Santander cc for 24 months I can purchase whenever I want within the 24 months and no interest until the end of 24 months period by that time I always balance transfer or pay it all off.
humadoon1 h, 54 m ago

I have taken many cards let's say Santander cc for 24 months I can …I have taken many cards let's say Santander cc for 24 months I can purchase whenever I want within the 24 months and no interest until the end of 24 months period by that time I always balance transfer or pay it all off.


Yeah same as that
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