Lloyds TSB Advance online card

pinkfluffybabe

Hi

I have been looking online at this card which is offering 5.5% on balance transfers for life of balance. I am already a LTSB Platinum card holder (no balance).

I was thinking about moving some of my Egg Loan onto it to lower the interest on some of it. Currently have £5500 left on loan.

Is this a good idea? Or should I stick with what i've got?

Does anyone have experience of this card/credit limits that have been given?

Thanks

Clariman

pinkfluffybabe wrote:

Hi

I have been looking online at this card which is offering 5.5% on balance transfers for life of balance. I am already a LTSB Platinum card holder (no balance).

I was thinking about moving some of my Egg Loan onto it to lower the interest on some of it. Currently have £5500 left on loan.

Is this a good idea? Or should I stick with what i've got?

Does anyone have experience of this card/credit limits that have been given?

Thanks

You may have difficulty getting the card if you already have an existing LTSB card, but why not phone them ask. Better to phone them and ask what their policy is on giving additional cards, rather than having a credit check done just to find out they wouldn't give you a card anyway.

One thing to watch with the LSTB Advance CC and that is you should not use it for purchases. The Ts & Cs are such that they charge you interest on purchases from day 1 i.e. there is no interest free period at all. At least, that is how the Ts & Cs are on my card. Check the online Ts & Cs before applying.

Clariman

pinkfluffybabe

According to the online banking website info, they would simply close my existing platinum card once this one was opened. That would be fine as I used it as a 0% for 6 months and am now finished with it.