Has anyone got a lloyds advance card?

D&DD

Just trying to find a good life of balance transfer one to get rid of the morganstanley one at 21% :eek: found this and it seems ok 5.5% for the life of balance?

Redrum_2

Check out Martin's thread here http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1107182516,76509, or click the credit card link on the left

5.5% LOB is pretty competitive, but Martin quotes 3 cards that offer better - 2x Amex Cards and Intelligent Finance. If you're transferring a lot of money, then 0.5% less on your rate can make an awful lot of difference

As for the Advance card specifically, if all you're going to do is transfer a balance and pay some off every month, then there's not much wrong with it per se

But if you're planning to spend on it, then there's 2 things you need to be wary of:

1) Most importantly - don't spend! If you do, all future payments you make will go against the cheapest balance first, meaning you'll pay 11.9% against your purchases until the full transfer is paid off

2) Unlike most other credit cards, the Advance card incurs interest from as soon as you make your purchase - there is no "up to 56 days' interest free credit"