MBNA / Lloyds Card Swap

I've noticed that Lloyds group seem to be offering 'card swaps' to existing card holders. The premise is that rather than opening a new card with another provider, you swap to a new deal (and they would transfer any existing balances to the new card's standard rate).

In theory it allows the existing credit limit to be kept and gives access to new deals (such as moving from a balance transfer card to a 0% spending card), but does anyone know if they do hard checks beyond the 'eligibility checker' and does it show on credit records as a new account having been opened?

Comments

  • Chrysalis
    Chrysalis Posts: 4,635 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    The latter probably yes but its me speculating.

    They should inform you if they going to do a credit check.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350K Banking & Borrowing
  • 252.7K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243K Work, Benefits & Business
  • 619.9K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 255.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.