Lloyds Cashback Creditcard 1% cashback ending (for me)

Lifes_Grand_Plan

Hi folks,

Did a search but couldn't spot previous discussion on this which is surprising as it must have been discussed and I probably just can't find it.

Anyway Lloyds have just e-mailed to say that my 1% cashback is ending on my creditcard in a month. Obviously it was a 1 year offer to attract people, so looks like I may have to shop around for a new card with better cashback than the 0.25% Lloyds offer otherwise.

Before I do that though, I thought i'd see if any fellow MSEers have had success speaking to Lloyds and getting them to extend the 1%?

Also I think I checked this when I moved to Lloyds Ultra - cashback is normally paid in January but I think the T&Cs said if you close the CC before then, they just apply the cashback to your last bill. Has anyone actually closed it and can confirm this please?

TIA

wiseonesomeofthetime

I've closed a Lloyds Cashback cc this month and the cashback was credited to the card, leaving a positive balance, which I just moved into my Lloyds current account via chat bot.

So, yes, it is easy to do and done as you suggested.

Lifes_Grand_Plan

https://forums.moneysavingexpert.com/discussion/comment/82147005#Comment_82147005

Thanks. I don't have a Lloyds current account so wonder how they'll handle the positive balance for me. Think i'll contact them to ask.

Who did you move your CC to (if you don't mind me asking). Seems like Amex is the current best option for anyone that's already tried Lloyds. There doesn't seem to be loads of decent rewards CC's out there at the moment, at least not for straight cashback rather than points.

mta999

They add the cashback balance to your credit card

This can leave you with the problem of having to spend this exact amount to bring your card down to zero before closing it

the way I did this was I paid my energy account (octopus) that exact amount as a one-of payment

flaneurs_lobster

Think you are right, not too many cards similar to the Lloyds Ultra for cashback.

Only other card I use is Chase, but it comes with a bunch of strings to get the 2% cashback on a subset of spend.

Be interested if you get any joy when asking to extend that 1% period, my card's up in a few months too.

mta999

Another option is to get a 0% purchase card which doesn't give you cashback of course but it does mean that you can put the money into a savings account and effectively earn 4% or more if you get a 12-month one

tom192

What happens if you close your Lloyds Ultra card and then re open a new one?

Mines due to expire in November

mta999

It is worth a try because as far as I know Lloyds does not have any specific 'you must wait six months rule' like Barclays for example

however I do know that once you close the credit card is still continues to show on your app for several months which may mean that you can't apply for a second card until it disappears off the app, but it is worth a try as I said

Lifes_Grand_Plan

Update from Lloyds was that they can't / won't extend the offer and no other similar offers available at the moment.

Interestingly the suggestion from them was to open up a new card. I might do that but do it in the wife's name (current card is in my name with her as additional card holder) just to avoid any potential issues.

wiseonesomeofthetime

https://forums.moneysavingexpert.com/discussion/comment/82147125#Comment_82147125

"Moved" it to Lloyds Ultra, only closing the CC after transferring 90% of my Lloyds Cashback CC credit limit across to it first.

jbrassy

So I am coming up to my 1 year anniversary of having the Ultra credit card. I messaged Lloyds in the app just to double check when the 1% cashback rate is coming to an end. They said the 3rd October 2027, which I thought was a mistake. However, the customer service agent on the chat said there was a memo on Vision+ confirming that my promotional rate has been extended by another 12 months. I don't know what Vision+ is or why I was given the extension (I didn't even ask for it), but I'm obviously pretty happy about it. The only potential reasons I can think of are that I'm a Lloyds Premier account holder or that I spend quite a lot on the card. Would be interesting to know if this has happened to anyone else.