Lloyds Ultra Credit Card

mta999

In a way it doesn't really matter what the credit limit is as you can always pay some off mid cycle and continue to earn cash back

grumpy_codger

mta999 said:

In a way it doesn't really matter what the credit limit is as you can always pay some off mid cycle and continue to earn cash back

This doesn't work for very big purchases.

Nasqueron

Pedalbin55 said:

Lloyds  check your eligibility first, then they offered me a very poor credit limit way below my needs/expectations. Apparently the computer decides the limit and cannot be changed by a human, despite my efforts.Wonder if Lloyds are keeping the credit limit low to avoid paying too much cashback?
Has anyone else experienced this?

No not at all, credit limit is done solely based on income and credit history. As above, even with a £500 limit, you could spend £500, earn cashback and pay the £500 off and spend again. The only time it'd be an issue would be trying to buy something really expensive and not being able to split payments. You could always get the card, pay off every month for 3-6 months and try for a credit limit increase

SiliconChip

The MSE Eligibility checker tells me I have both a 0% chance of approval at an interest rate of 12.9% and that I'm 100% pre-approved at a rate of 14.9%, any thoughts on which of these I should place most trust in? I don't care what the interest rate is as I always pay full balance, but it seems a bit perverse for there to be such a large difference in approval chance with a small difference in the interest rate.

Edit: when I refreshed the checker it only showed the 14.9% option, still with 100% approval, so I applied and I was successful with a £1000 limit, less than I requested in the checker but fine for everyday purchasing.

jbrassy

One thing people might want to be aware of: with Lloyds, you cannot download your transactions into Excel or as a csv file. You can only download statements as a pdf which is a bit annoying when trying to work out finances.

I appreciate this is a minor point (or irrelevant for a lot of people), but I find it amazing in 2025 that you can't do this. Lloyds online banking setup is quite poor in general (app is OK though). 

I think once the 1% cashback ends, I'll be switching back to BC Rewards for overseas spending.

vernall

Opened this when first saw on here. I am sure I read that the 1% cashback is paid too you each January, but clicking on the ‘how do I get my cashback’ button it says it is reduced from your balance of what you owe them each month. I earned just over £27 in cashback last month and nothing is being shown as that amount being reduced from my statement balance for last month. 

any ideas? 

Gandalf644

vernall said:

Opened this when first saw on here. I am sure I read that the 1% cashback is paid too you each January, but clicking on the ‘how do I get my cashback’ button it says it is reduced from your balance of what you owe them each month. I earned just over £27 in cashback last month and nothing is being shown as that amount being reduced from my statement balance for last month. 

any ideas? 

It is paid every January: 

https://www.lloydsbank.com/credit-cards/ultra.html?utm_source=GOOGLE&utm_medium=paid+search&utm_campaign=UK_Brand_Lloyds_Credit+Cards&utm_term=lloyds+ultra+credit+card&utm_adgroup=UK_Brand_Lloyds_Credit+Cards_Ultra&gclsrc=aw.ds&gad_source=1&gad_campaignid=13973821171&gclid=EAIaIQobChMItcbvqZLnkAMVjZZQBh2uqxLQEAAYASAAEgJUSvD_BwE

vernall

Thanks

i knew I hadn’t imagined it

this is what it shows for me though

Barkin

jbrassy said:

One thing people might want to be aware of: with Lloyds, you cannot download your transactions into Excel or as a csv file. You can only download statements as a pdf which is a bit annoying when trying to work out finances.

Hmmm...I have .csv and .qif options, as well as .pdf

EarthBoy

vernall said:

Thanks

i knew I hadn’t imagined it

this is what it shows for me though

That says your statements will show how much cashback you've earned, but it doesn't say that's it's paid every month.  It's saved up and paid in January, so it only reduces the January balance.