Joining Club Lloyds - any reason not to?!

[Deleted User]
[Deleted User] Posts: 0 Newbie
Name Dropper First Post Photogenic First Anniversary
in Budgeting & bank accounts
Hi guys,

As above. I've been with Lloyds since I was a kid and they've always been really good to me, not that I've ever really tested them :cool:

Currently on a Classic account (£1500 paid in each month, 3/4x Direct Debits) and always in credit, with an Online Saver (£1000 reserve, always) and a Platinum Credit card which I zero each month... - is there anything stopping me from joining? Any for's or against's etc.?

Not interested in switching accounts anytime soon.

Thank.
«1345

Comments

  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    I think your question is "do I want some interest and other perks or not?".
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Name Dropper First Post Photogenic First Anniversary
    PeacefulWaters wrote: »
    I think your question is "do I want some interest and other perks or not?".
    Applying now :D
  • jim100uk
    jim100uk Posts: 10 Forumite
    Combo Breaker First Anniversary First Post Debt-free and Proud!
    edited 25 April 2018 at 12:21PM
    I was expecting to see comment from Martin today re Lloyds Club accounts !

    Received a letter yesterday telling me that on 1st July 2018 my Club Platinum Account Fee was increasing and that the 2% interest on balances up to £5000 is being reduced to 1.5%. I shall be reducing my credit balance from July and putting it in a fixed saver (such as Atom) from that date.
  • EachPenny
    EachPenny Posts: 12,239 Forumite
    First Post Combo Breaker
    slipd wrote: »
    .....is there anything stopping me from joining? Any for's or against's etc.?

    Just make sure you follow the T&C's carefully to avoid the monthly fee and to earn interest. :)
    "In the future, everyone will be rich for 15 minutes"
  • Katiehound
    Katiehound Posts: 7,552 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    ha- but now the interest rate is dropping, yet again.....almost not worth having anymore. No doubt some other banks now look more attractive
    Being polite and pleasant doesn't cost anything! --
    Many thanks
    -Stash bust:in 2022:337
    Stash bust :2023. 120duvets, 24 bags, 43 dog coats, 2 scrunchies, 10 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 59 cards, 6 lav bags,36 angels,9 bones, 1 knee blanket, 1 lined bag,3 owls, 88 pyramids = total 420 total spend £5. Total for 'Dogs for Good' £546.82

    2024:23 Doggy duvets,29 pyramids, 6 hottie covers, 4 knit hats,13 crochet angels,1 shopper, 87cards=163 £86 spent!!!
  • anotheruser
    anotheruser Posts: 3,485 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
    A reason not to?
    Because it's a faff opening a joint account.
  • swindiff
    swindiff Posts: 864 Forumite
    Name Dropper First Anniversary First Post Newshound!
    The wife and I have 3 accounts between us. Its worth it for the 18 free cinema tickets per year and £300 annual interest :)
  • smjxm09
    smjxm09 Posts: 663 Forumite
    First Post First Anniversary Combo Breaker
    Was £300 but not any more, well from July anyway
  • swindiff
    swindiff Posts: 864 Forumite
    Name Dropper First Anniversary First Post Newshound!
    I would keep them just for the cinema tickets. Can transfer the money out to a higher rate account, just need to put £1500 in and back out each month to avoid the fee.
  • 20aday
    20aday Posts: 2,610 Forumite
    First Anniversary Combo Breaker First Post PPI Party Pooper
    I've been a Club Lloyds customer for the past few years now and if you meet the criteria I'd say it's worth it-they sometimes offer 'preferential' rates for Club Lloyds customers too.

    Depends how much you're looking to keep in it I guess; Tesco Bank offer 3% interest on balances up to £3,000 with a monthly pay in of £750/month with three active Direct Debits required.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
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