Credit Card (UK)

Lloyds Bank Platinum Low Rate Credit Card full review

Find out more about a very low-cost card on this Lloyds Bank Platinum Low Rate Credit Card review and check if you are eligible.

Lloyds Bank Platinum Low Rate Credit Card: a low cost card for everyday deals

This review will tell you everything about this credit card. Source: The Mister Finance.
This review will tell you everything about this credit card. Source: The Mister Finance.

If you are interested in enjoying a low ongoing rate, this Lloyds Bank Platinum Low Rate Credit Card review is worth checking.

Lloyds Bank Platinum Low Rate Credit Card

How to apply for the Lloyds Bank Platinum Low Rate

Learn how to apply for the Lloyds Bank Platinum Low Rate Credit Card and enjoy low rates and no annual fees with excellent customer service.

To sum up, this card has no annual or monthly fees, and the ongoing rate is pretty low.

Credit ScoreNot disclosed
APR10.94%
Annual Fee£0
FeesMinimum monthly payment: £5 or 2.5% of the total amount of interest, default charges and fees plus 1% of the outstanding balance;
Balance transfer fee: 5%;
Foreign transaction fee (EU): 2.95%;
Foreign transaction fee (other countries): 2.95%;
Late payment fee: £12;
Cash advance fee: 5% (minimum – £0)
Welcome bonusNone
RewardsNone

Although the card doesn’t feature a welcome bonus or rewards, you may find it useful if you are searching to build stable finances.

How does the Lloyds Bank Platinum Low Rate Credit Card work?

Lloyds Bank offers a wide range of credit cards designed for different purposes.

The offerings are online, and the bank gathers cards for those looking for everyday spending credit cards, balance transfer cards, and large purchase credit cards.

One of these credit cards is the Platinum Low Rate, a very cheap card for those who are searching for low rates.

Even though it doesn’t offer a welcome bonus or rewards, it comes with a low and variable ongoing rate of 10.9%.

On the other hand, if you are looking for a card with an APR of 0%, this Platinum might not be worthwhile for you. However, this card doesn’t charge any of the following fees:

  • Annual or monthly;
  • Replacement card;
  • Additional card;
  • Duplicate statement;
  • Exceeding limit;
  • Inactivity.

Indeed, a very cheap card, but with a good package of benefits that includes excellent customer service, versatility, and protection.

Additionally, applicants can check eligibility with no impact on their credit scores.

Thus, as can be seen on this Lloyds Bank Platinum Low Rate Credit Card review, this card can be a fantastic tool for those who seek to minimize costs with low rates and no annual fees.

Lloyds Bank Platinum Low Rate Credit Card benefits

You'll get a credit card to pay for every expense. Source: Freepik.
You’ll get a credit card to pay for every expense. Source: Freepik.

Certainly, this Platinum Mastercard is suitable if you are after low rates and low fees. However, it may not be the best if you want rewards, bonuses, and 0% intro APR on purchases and balance transfers.

Pros

  • The card comes with a low ongoing and variable rate;
  • It offers prequalification with no impact on your credit card;
  • It provides excellent customer service;
  • There are no annual or monthly fees.

Cons

  • There are no rewards and no welcome bonuses.

Pre-approved credit cards for low credit score available now

We analyzed your profile and found some offers that you can apply for today.

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How good does your credit score need to be?

Unfortunately, this information is not disclosed. But you can check your eligibility with no impact on your credit score.

How to apply for a Lloyds Bank Platinum Low Rate Credit Card?

As shown on this Lloyds Bank Platinum Low Rate Credit Card review, this Platinum is a good choice for those looking for versatility and affordability.

Now, learn how to apply for it!

Lloyds Bank Platinum Low Rate Credit Card

How to apply for the Lloyds Bank Platinum Low Rate

Learn how to apply for the Lloyds Bank Platinum Low Rate Credit Card and enjoy low rates and no annual fees with excellent customer service.

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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