Lloyds Bank Cashback credit card

molerat

Applied last night.  Accepted for £3K.  Just have to wait now for all the stuff to come through to register for the app. Soft search showing on CreditKarma.

ccdorset

deinoflex said:

ccdorset said:

I have an existing Lloyds Platinum Credit Card and tried to swap it to the Cashback card online, however I couldn't get past the eligibility checker, it just said there was a problem and to try again later.

However, when I try again it now says I have an application in the system so cannot apply again as it may be approved.

I phoned Lloyds today and they said that apparently they have not been able to swap any existing cardholders to the cashback card, due to a technical problem which the IT team are trying to fix. They advised me to try again at the end of the week or early next week. :-(

I tried the same thing last week, failed with can't be done online, tried again following day, didn't get the 'application in progress' but got the same online failure, rang them up, got the 'wait till next week for it to be sorted' response. I gave up and applied for the cashback card as an extra card. Once it's up and running I'll close the platinum one.

I tried to apply to swap my card again today, but still no luck.

Thinking I may need to do the same as you, I was just a bit reluctant as I applied for a second AMEX recently.

GTR_King

This credit card looks good but is it any better than Barclaycard Rewards Cash Back Card?

WillPS

GTR_King said:

This credit card looks good but is it any better than Barclaycard Rewards Cash Back Card?

Yes, if you spend more than £4000 and you don't use it to spend overseas then it is better.

If you spend less than £4000, it is the same (with less flexibility around when you can get your cashback).

If you need to use it for spend overseas, the Barclaycard is the better prospect.

[Deleted User]

GTR_King said:

This credit card looks good but is it any better than Barclaycard Rewards Cash Back Card?

With the £20 freebie if you spend £1000 in 3 months then yes. 

Barclays is 0.25% full stop I believe?
Lloyds is 0.25% to £4000 then 0.5% after

GTR_King

Well I only really spend £100 each month on my CC

So don't think it will be worth it, 

But I have the old Barclaycard Cashback CC 

WillPS

The old black Barclaycard Cashback card, or the purple Barclaycard Reward card?

The former is better in every regard when compared to the new Lloyds card (until Barclaycard inevitably nerf it anyway).

Either way I wouldn't be particularly motivated to change if spend was always that low.

dr_adidas01

Deleted_User said:

GTR_King said:

This credit card looks good but is it any better than Barclaycard Rewards Cash Back Card?

With the £20 freebie if you spend £1000 in 3 months then yes. 

Barclays is 0.25% full stop I believe?
Lloyds is 0.25% to £4000 then 0.5% after

Yes the Barclaycard is 0.25% for everything you buy except for:

Balance transfers, money transfers, cash withdrawals, buying currency or traveller’s cheques, or any cash-like transactions you make such as money orders or wire transfers. It also doesn’t include gaming-related transactions such as gambling, betting and buying lottery tickets.

GTR_King

The old Black one which had Amex and Visa is the one I have at the moment

WillPS

GTR_King said:

The old Black one which had Amex and Visa is the one I have at the moment

Unless you want the £20 bonus there is no reason to take out the Lloyds card then. The black Barclaycard Cashback Visa is better than any other non-Amex cashback card on the market, at a straightforward 0.5% on all spending.

The only reason I can think for taking the Lloyds card longer term would be a backup in case Barclaycard lower the cashback rate on the card - which is quite likely at some point, but in that case you could just apply for the Lloyds card when/if that happens.