Lloyds Ultra Credit Card

londoner62

Hi all,

I currently use a Halifax Clarity card for my foreign parts spending and just got a Lloyds Ultra because of the cashback; which is the better to use for cash withdrawals and purchases abroad?

Thanks for the guidance.

MACKEM99

LLOYDS gives 1% cashback for first year. Can't comment on cash withdrawals.

grumpy_codger

https://forums.moneysavingexpert.com/discussion/comment/81992477#Comment_81992477

For purchases Lloyds one is obviously better because of the cashback. This is assuming that you pay the balance in full.

For cash it depends on your personal interest rates - both charge no fees for withdrawals and conversion.

» Lloyds Ultra Credit Card | Lloyds

EAB2

On the face of it lloyds ultra is the card I need for spending abroad, but they've got to make money somewhere.

If they're not charging a fee for foreign transactions like most credit cards, what rate do they charge for conversion?

Anyone have any comparables?

Gandalf644

https://forums.moneysavingexpert.com/discussion/comment/82032346#Comment_82032346

I used both my Lloyds Ultra and Virgin Travel Credit Cards when in the USA last month.

Both are Mastercards and both were using exactly the same conversion rate, which appeared to be the standard prevailing Mastercard Conversion rate.

I presume they make enough profit from those who carry an ongoing balance on the Ultra card (and their other credit cards) as well as merchant charge fees to more than cover any fees for overseas usage.

EarthBoy

https://forums.moneysavingexpert.com/discussion/comment/82032374#Comment_82032374

Lloyds Ultra Credit Card is Visa, not MasterCard. The only MasterCard that Lloyds still offer is their World Elite card.

Gandalf644

https://forums.moneysavingexpert.com/discussion/comment/82032446#Comment_82032446

Sorry, you are right, it is Visa.

I meant to compare it with my Natwest Travel Visa CC (but got my Virgin Travel Mastercard muddled in).

Either way, the same applies, both the Ultra and Natwest Travel CC converted at the same rate in the USA.

NoodleDoodleMan

The recently advertised Santander Rewards credit card looks like a good alternative.

https://www.santander.co.uk/personal/credit-cards/santander-rewards-credit-card

Detail_Merchant

https://forums.moneysavingexpert.com/discussion/comment/82035474#Comment_82035474

The 3% cashback sounds tempting, but it's only on certain specific categories.
Only 0.25% cashback on everything else.
I like the simplicity of 1% cashback on everything (in the first year) from Lloyds Ultra.

mta999

I use the 3% Santander one for fuel, travel e.g trains and eating out at restaurants. I use the Lloyds 1% for everything else