Lloyds Ultra credit card

Theleak250

Lloyds clearly has a criteria we are not privy to. As I have been rejected I will try again in six months. I have held Lloyd credit cards in the past with good standing.

Re the post above, banks sometimes send out emails to existing customers offering a credit card. I received an email from HSBC about their rewards card, so I applied and was rejected. The app still offers me the card. I already have a credit card (standard) with HSBC and it states the reward card could be the second one. Very frustrating to be rejected for both.  

J_B

Mrs B has had a Lloyds account for many years, well, I think it was TSB before they merged!

When we were married, it was changed by one of their employees who happened to be one of the church choir at our wedding - how things have changed! 🤣

She also has a Lloyds credit card that she rarely uses. It has a 2k limit.

We applied for an Ultra card which was immediately accepted ... with a 1k limit.

Dare we ask for an increase or wouldn't they like that so soon?

mta999

Usually you have to wait six months although of course you can always pay a bit back if you need to spend more and get the 1%

retiredbanker1

n1david said:

It is possible that they are looking for customers who are likely to pay interest, in order to offset the cost of offering 1% cashback.  Therefore, someone who is well off and likely to pay off the balance each month, while spending a lot to get lots of cashback, may not be their target customer...

I don't think so - they will make 2-3.5% on most transactions - it makes sense to attempt to get new customers by accepting a lower rate of commission rather than get zilch.

jay1804

J_B said:

Mrs B has had a Lloyds account for many years, well, I think it was TSB before they merged!

When we were married, it was changed by one of their employees who happened to be one of the church choir at our wedding - how things have changed! 🤣

She also has a Lloyds credit card that she rarely uses. It has a 2k limit.

We applied for an Ultra card which was immediately accepted ... with a 1k limit.

Dare we ask for an increase or wouldn't they like that so soon?

With Lloyds bank you can request to redistribute your credit limits between them. 

Can I redistribute my credit limit between two cards?

Yes. Once you’ve got 2 Lloyds Bank credit cards, you can request to redistribute your credit limits between them. For example, if there’s a promotional interest rate on one card, you could move a portion of your available credit from your other card, so you can take full advantage. 

You can redistribute your credit limit once every 6 months, moving a minimum of £100 and up to 90% of your available credit limit. Any single card must have a credit limit of at least £500. 

Your outstanding balance remains the same, and this won’t increase your combined credit limit. It’s simply a way to split your credit limit to better suit your needs. 

If you’d like to redistribute your credit limit, please give us a call.

https://www.lloydsbank.com/credit-cards/help-and-guidance/second-card.html

n1david

retiredbanker1 said:

n1david said:

It is possible that they are looking for customers who are likely to pay interest, in order to offset the cost of offering 1% cashback.  Therefore, someone who is well off and likely to pay off the balance each month, while spending a lot to get lots of cashback, may not be their target customer...

I don't think so - they will make 2-3.5% on most transactions - it makes sense to attempt to get new customers by accepting a lower rate of commission rather than get zilch.

I don't think they make anything like as much as that these days.
https://www.headforpoints.com/2025/10/19/why-are-uk-credit-cards-less-rewarding/