Find Out How to Sign Up for a Lloyds Bank Credit Card – Balance Transfer Card

Lloyds Bank has introduced a new credit card that offers borrowers 21 months of 0% interest on any debt they transfer.

The card is ideal for those who pay high-interest rates on credit card debt, but it has a 3% fee that needs to be considered. Why does the Lloyds account fit in a highly competitive credit-card market?


Check out the benefits and how to sign up for the Platinum Balance Transfer Card in this article! Read on to learn more about this credit card.

Find Out How to Sign Up for a Lloyds Bank Credit Card - Balance Transfer Card
Image Source: Lloyds Bank

Benefits of the Lloyds Bank Platinum 28 Month Balance Transfer Credit Card

The balance transfer fees is 3% for 3 months reverting to 5%. When it comes to purchases, the bank offers 0% for 6 months reverting to 19.94%. 

Longer terms are available elsewhere, including an interest-free duration that may offer more breathing space for investors looking to lower interest rates in the next few years.


However, higher transfer fees are often required in order to obtain a longer 0 percent interest period on balance transfers. That dilutes to some extent the appeal of an additional four-month period.

Rewards of the Lloyds Bank Platinum 28 Month Balance Transfer Credit Card

Those seeking cards with no transfer fees can find that, although on balance transfers in exchange for a shorter interest period of 0 percent. And there’s no promised cashback or bonuses here.

Its card does not charge an annual fee. Because of the balance-transfer offer, many people applying for it will do so, this could keep total costs to a minimum during the balance-transfer period.


While the card advertises a 3 percent transfer fee for all balance transfers, in the first 90 days of account opening this is discounted to 1.5 percent. However, any balance transfers made after the first 90 days of being a cardholder will be charged the full transfer fee of 3 percent.

How to Apply

Card applications may be made online, in a branch, or by telephone. Details such as previous addresses (if you have been living in your current home for less than three years), annual income, and any current credit or store cards.

The bank will also ask for information such as outgoings and employment status, which are required. Overall, it takes around 10 minutes to complete the online application process, with a decision taken in half that time.

To apply, you must be a native of the UK with a normal annual salary, aged 18 or over. You must be free of Judges of County Court (CCJs), Individual Voluntary Agreements (IVAs) or bankruptcies.

You must not be unemployed, and you are not a worker. Within the last 30 days, you have not been declined for a credit card from Lloyds Bank.

Interest Rates and Fees

The Lloyds Bank Platinum 28 Month Balance Transfer Credit Card is a great credit card option if you are looking to obtain a new credit card. Make sure to consider the rates and fees that accompany this card.

Note that the fees and rates we list in this article are not verified from Lloyds Bank, so also make sure to speak with a representative if you are interested in this credit card to get the official rates and fees.

  • No annual fee;
  • Balance transfer APR: 19.94%;
  • Balance transfer fee: 3% for 3 months reverting to 5%;
  • Purchases APR: 19.94%;
  • Cash advances: 19.94%;
  • Minimum monthly payment: 2.5% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance;
  • Foreign usage charge: 2.95%;
  • Cash advance fee: 5%.

Contact Info

Find Out How to Sign Up for a Lloyds Bank Credit Card - Balance Transfer Card
Image Source: The Guardian

If you would like to get in contact with a Lloyds Bank representative, you can reach them by calling 0345 602 1997. Their head office address is 25 Gresham Street, London EC2V 7HN.


While a longer interest-free, balance-payment period, this card provides an enticing compromise between the duration of the transfer period and the transfer fee paid.

Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.

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