Joining Club Lloyds - any reason not to?!

[Deleted User]

Hi guys,

As above. I've been with Lloyds since I was a kid and they've always been really good to me, not that I've ever really tested them :cool:

Currently on a Classic account (£1500 paid in each month, 3/4x Direct Debits) and always in credit, with an Online Saver (£1000 reserve, always) and a Platinum Credit card which I zero each month... - is there anything stopping me from joining? Any for's or against's etc.?

Not interested in switching accounts anytime soon.

Thank.

PeacefulWaters

I think your question is "do I want some interest and other perks or not?".

[Deleted User]

PeacefulWaters wrote: »

I think your question is "do I want some interest and other perks or not?".

Applying now

jim100uk

I was expecting to see comment from Martin today re Lloyds Club accounts !

Received a letter yesterday telling me that on 1st July 2018 my Club Platinum Account Fee was increasing and that the 2% interest on balances up to £5000 is being reduced to 1.5%. I shall be reducing my credit balance from July and putting it in a fixed saver (such as Atom) from that date.

EachPenny

slipd wrote: »

.....is there anything stopping me from joining? Any for's or against's etc.?

Just make sure you follow the T&C's carefully to avoid the monthly fee and to earn interest.

Katiehound

ha- but now the interest rate is dropping, yet again.....almost not worth having anymore. No doubt some other banks now look more attractive

anotheruser

A reason not to?
Because it's a faff opening a joint account.

swindiff

The wife and I have 3 accounts between us. Its worth it for the 18 free cinema tickets per year and £300 annual interest

smjxm09

Was £300 but not any more, well from July anyway

swindiff

I would keep them just for the cinema tickets. Can transfer the money out to a higher rate account, just need to put £1500 in and back out each month to avoid the fee.

20aday

I've been a Club Lloyds customer for the past few years now and if you meet the criteria I'd say it's worth it-they sometimes offer 'preferential' rates for Club Lloyds customers too.

Depends how much you're looking to keep in it I guess; Tesco Bank offer 3% interest on balances up to £3,000 with a monthly pay in of £750/month with three active Direct Debits required.