Lloyds Choice rewards

mrchagle

Hi there.

I am the Barclaycard DUO card / AMEX and VISA card.

I also have the American Express platinum which pays 1.25% / plus an extra annual bonus of 1.25 in the anniversary month - Fee £25 per year.

However I'm looking elsewhere and found

http://www.lloydsbank.com/credit-cards/choice-rewards.asp

Trouble is with rewards points it's difficult to work out if you're better/worse than a cashback %age.

Anyone have any thoughts on the Lloyds Choice reward scheme?

Thanks ;-)

bengalknights

Personally i always go cash over points as its easier to see the benefit

SLZ

mrchagle wrote: »

Anyone have any thoughts on the Lloyds Choice reward scheme?

I don't like it as a reward scheme, the rewards aren't worth it to me but if the rewards appear worth it to you then go for it.

Personally I prefer Lufthansa's Miles & More and Hilton's HHonors credit card as I can generally get 1.5¢ per mile and 0.5¢ per HHonor point while HHonors aren't the most lucrative, they're the easiest to build up from multiple sources as well as easy redemptions but the best would be Starwood Preferred Rewards which is worth 2.4¢ per point.

20aday

If you spend more than £350/month then it'll potentially benefit you (and if you have a Club Lloyds account £12 of the £24 Annual Fee is waived).

I had it myself a couple of years ago; certainly helped with birthdays & Christmas in terms of Shopping Vouchers. You can have the points turned into cash (which'll be credited to your statement).

callum9999

bengalknights wrote: »

Personally i always go cash over points as its easier to see the benefit

This is effectively a 1% cashback card if you only want cash. If you're happy with vouchers (the range isn't great but would still be useful for most people) then it's effectively 1.5% back.

Whether 1% cash/1.5% voucher with a £12 annual fee is better than their existing 1.25% cash with a £25 annual fee depends on whether they can use the vouchers or not.

tbeamish

I still have yet to find a better deal for our household spending. We make regular purchases from Apple and Amazon so split the rewards between these vouchers. Spending around £800 per month (almost entirely on the Amex card) we end up with about a £10 voucher every month. I don't want the hassle of introductory offers and so I'm just sticking with Choice Rewards for the time being.

I'm surprised that it doesn't feature on the MSE cash back card top picks list. It features rewards cards as well and they just don't appear to stack up. The rest seem to offer between 0.5% and 1.0% return whereas Lloyds is really giving out 1.5% if you're happy to take rewards or 1% if not. Any ideas why it's not made the cut?