Lloyds Amex Duo is it a Mainstream card ?

Dannydebt

Sorry if this sounds stupid but there is a lot of talk about Sub Prime and mainstream cards.

Is the Duo card (You get a Amex and Mastercard) from Lloyds a 'Proper' mainstream card, and is it difficult to get, or just as easy or hard to get as any other credit card ?.

Thanks

cse

Amex don't really do subprime, so this would probably be considered mainstream. If you bank with Lloyds already, you might well find it easier to obtain than comparable mainstream cards

BugsyBrowne

Dannydebt wrote: »

Sorry if this sounds stupid but there is a lot of talk about Sub Prime and mainstream cards.

Is the Duo card (You get a Amex and Mastercard) from Lloyds a 'Proper' mainstream card, and is it difficult to get, or just as easy or hard to get as any other credit card ?.

Thanks

Its easy to get mainstream credit cards with a good credit rating,but harder to get with an average credit history(rating).

Its like asking someone who's got the worst credit rating ever if they found getting a Vanquis credit card hard and the simple answer would be No hence their credit rating matched that particular card.

InsideInsurance

Dannydebt wrote: »

Is the Duo card (You get a Amex and Mastercard) from Lloyds a 'Proper' mainstream card, and is it difficult to get, or just as easy or hard to get as any other credit card ?.

If in doubt, look at the APR and fees.

If there is no fee and the APR is below 20% then it is mainstream or premium

If there is an annual fee then the APR will be skewed by it so look at the purchase rate which should be below ~19% for a mainstream or premium card

APRs (Exc fees) from 20% to 25% are the start of the sub prime but not the real bad ones.

Anything 25% (exc fees) or over are real sub prime offerings.

It is important to look at fees as you'll see some top end private banks etc have cards with an APR of 50% plus but that is because they have a £2,000+ per year fee that must be factored into the APR calculation