Lloyds Bank Cashback credit card

Fingerbobs

Deleted_User said:

Fingerbobs said:

Deleted_User said:

molerat said:

Well, that is a bit slow.  Been waiting patiently for my card to arrive and have just received a text to say it is on its way.

Was the same with me, took a week or so between application and delivery. You can get the PIN from the app if you don't get the letter (mine turned up 2-3 days after the card). You have 3 months to get the £20 bonus so it's not the end of the world

Finally received my card today, a week plus one working day after application. Already had the PIN letter last week, strangely. 

Also I just checked all three CRAs, and I see no searches (hard or soft) on any of them. 

If you are checking the free ones, that is not surprising, they don't update in real time unlike your full report. I got one of those delightful emails from Clear Score telling me something had changed on my report about 2 weeks after

I know you can only get an updated report once per month with Equifax and Experian, but all were updated on the day I checked them, so would include any searches performed since the last update, which would include the Lloyds application. 

I have a few other credit cards and other accounts across the Lloyds group, so I assume they used information they already hold about me. 

Asghar

I'm assuming that the cashback is rounded down when it is calculated, so if you spend £3.99 on one transaction then there is no cashback amount and £7.99 will only result in a cashback of 1p.

In effect only full multiples of £4 will get you 1p for each one.

Fingerbobs

Asghar said:

I'm assuming that the cashback is rounded down when it is calculated, so if you spend £3.99 on one transaction then there is no cashback amount and £7.99 will only result in a cashback of 1p.

In effect only full multiples of £4 will get you 1p for each one.

No, it's cumulative. Cashback is calculated on the total spend for the billing period. 

alewin

Fingerbobs said:

Asghar said:

I'm assuming that the cashback is rounded down when it is calculated, so if you spend £3.99 on one transaction then there is no cashback amount and £7.99 will only result in a cashback of 1p.

In effect only full multiples of £4 will get you 1p for each one.

No, it's cumulative. Cashback is calculated on the total spend for the billing period. 

Are you sure, hope your right, do you have cashback showing on your account?
On the Lloyds website (if I'm allowed to copy), it states that "Cashback is calculated on each purchase, rounding down to 2 decimal places after the penny."
So going by what Asghar said, if you bought a morning coffee and a doughnut for £3.50 every weekday on the way to work then that's £17.50 spent with no cashback.

Fingerbobs

alewin said:

Fingerbobs said:

Asghar said:

I'm assuming that the cashback is rounded down when it is calculated, so if you spend £3.99 on one transaction then there is no cashback amount and £7.99 will only result in a cashback of 1p.

In effect only full multiples of £4 will get you 1p for each one.

No, it's cumulative. Cashback is calculated on the total spend for the billing period. 

Are you sure, hope your right, do you have cashback showing on your account?
On the Lloyds website (if I'm allowed to copy), it states that "Cashback is calculated on each purchase, rounding down to 2 decimal places after the penny."
So going by what Asghar said, if you bought a morning coffee and a doughnut for £3.50 every weekday on the way to work then that's £17.50 spent with no cashback.

Yes, I’m sure. I’ve just had my first statement, and it shows £2.50 cashback on a total spend of pretty much exactly £1000 (I went a few pennies over). Very few transactions were exact multiples of £4. 

I’ve had a few cashback cards over the years, and they’ve always been based on cumulative spend. 

northwalesd

Agreed. it's cumulative. I'm shoving as much as I can through mine currrently as I'm getting 0.75% cashback until 30th Oct.

[Deleted User]

dr_adidas01 said:

Deleted User said:

dr_adidas01 said:

Deleted_User said:

Has anyone managed to change from a Halifax card to a Lloyds one? I have a really old Halifax cashback card (like 22 years open sort of old) but as I spend over £4000 over the course of a year this would be quite nice to have instead, I asked the AI bot thing in the Halifax app but it didn't understand my question...

I asked Lloyds if I could do it with an old halifax credit card and was told they don't do this as they are two separate brands even though they are owned by Lloyds Banking group.  I was told I would have to apply separately for the rewards credit card which I have done.

They are two separate banks not just 'brands'.

For clarity, Lloyds Banking Group is not a bank, it is a company that own's banks.

Your just splitting hairs I just repeated what the customer service rep said. I know they are separate banks Halifax and Bank of Scotland are HBOS and have there own banking license and Lloyds Bank also has its own banking license. 

As you point out Lloyds Banking Group is the company that owns both banks along with many other financial organisations. 

You sign the credit agreement with the underlying bank (not the brand) and the fact that they have a common owner doesn't change that.

Scrounger

northwalesd said:

... I'm getting 0.75% cashback until 30th Oct.

How did you manage to get 0.75% cashback?


Scrounger

northwalesd

Scrounger said:

northwalesd said:

... I'm getting 0.75% cashback until 30th Oct.

How did you manage to get 0.75% cashback?


Scrounger

Soon after my card transitioned to the cashback card I got a 0.5% cashback boost offer by email (so that's 0.5% in addition to the standard 0.25%). Had to activate it. Runs for all purchases from 30 Jul to 30 Oct.

Asghar

Fingerbobs said:

alewin said:

Fingerbobs said:

Asghar said:

I'm assuming that the cashback is rounded down when it is calculated, so if you spend £3.99 on one transaction then there is no cashback amount and £7.99 will only result in a cashback of 1p.

In effect only full multiples of £4 will get you 1p for each one.

No, it's cumulative. Cashback is calculated on the total spend for the billing period. 

Are you sure, hope your right, do you have cashback showing on your account?
On the Lloyds website (if I'm allowed to copy), it states that "Cashback is calculated on each purchase, rounding down to 2 decimal places after the penny."
So going by what Asghar said, if you bought a morning coffee and a doughnut for £3.50 every weekday on the way to work then that's £17.50 spent with no cashback.

Yes, I’m sure. I’ve just had my first statement, and it shows £2.50 cashback on a total spend of pretty much exactly £1000 (I went a few pennies over). Very few transactions were exact multiples of £4. 

I’ve had a few cashback cards over the years, and they’ve always been based on cumulative spend. 

Thanks for the confirmation.

On my old Amex card the cashback is always per transaction and rounded down, so it's always multiples of £2 being 0.5% cashback.

It's not worked out on the total spend during each statement, so all the odd pounds and pence are not totalled up.