Skip to main content

New Lloyds Bank credit card with Avios points rewards

The Lloyds Bank Avios Rewards Credit Card, launched on 5 November, offers up to 1.25 Avios per £1 spent plus other travel perks

Customers can collect double Avios points on their credit card spending in their first six months

Customers can collect double Avios points in their first six months with the new Lloyds Bank credit card

Lloyds Bank have launched a new travel rewards credit card, allowing customers to collect Avios points on their regular spending.

The Lloyds Bank Avios Rewards Credit Card, which went live on 5 November, is set to increase competition in the airline and travel credit cards market.

In fact, successful applicants will receive two Lloyds Bank credit cards – one MasterCard and one American Express – increasing the number of merchants for customers to spend with.

Annual fee

However, an annual fee of £24 could deter customers, especially as the British Airways American Express Credit Card offers 1 Avios per £1 spent with no annual fee.

Despite this, customers who spend big can easily make up the difference in Avios points collected within their first year.

An introductory offer of double Avios for the first six months on all spending up to £2,500 per month, plus a flight cabin upgrade when you spend £7,000 might be enough to convince customers to part with the £24 annual fee.

Along with this new offering, Lloyds Bank have also launched a more premium credit card double with an annual fee of £140 and up to 1.5 Avios per £1 spent.

Consumer choice

The choices for consumers who wish to turn their spending into travel rewards is “growing” according to uSwitch personal finance expert, Michael Ossei.

“For customers who are not the biggest spenders but still have a good credit rating, the British Airways card could still be a more attractive offering with 9,000 bonus points for customers spending £1,000 in the first three months.

“That’s enough for a return flight to Berlin, but Lloyds Bank Avios Rewards card customers will need to spend £3,600 to get the same amount – although in the long term they can earn more after the bonus period,” said Mr Ossei.

The Lloyds Bank card, in terms of Avios, may work out better for customers with bigger budgets, but it also aims to have a broader appeal as an everyday credit card.

Along with the Avios rewards, the cards offer 13 months 0% interest on balance transfers and purchases, as well as no foreign transaction fees.

Head of credit cards at Lloyds Bank, Mark Powys said: “The Lloyds Bank Avios Rewards Credit Card is an exciting way for customers more in tune with travel to make their money go further for them, whether that is through flights and cabin upgrades, hotels or activities for the family.”

  • Z Shah

    I’ve had this credit card with Lloyds for 3 years now. The American Express gives me 1 point per £1 and the MasterCard gives me 1 point per £5 spent. After the introductory offer, there haven’t been any other ‘bonuses’ to keep me interested as a customer.

    I feel that the added ‘bonuses’ for this card doesn’t seem to make up for the annual fee. It all depends on how much you spend on your card per month. If you’re a big spender, there are better cards out there which will offer you more value for your money.