Avios

Avios

November 05, 2013 06:40 ET

Lloyds Bank to Provide More Choice on Rewards to Credit Card Customers

- Lloyds Bank launches the Choice Rewards Credit Card enabling customers to turn everyday spending into a variety of rewards

- The new Lloyds Bank Avios Rewards Credit Card will allow customers to earn even more travel rewards

LONDON, UNITED KINGDOM--(Marketwired - Nov. 5, 2013) - Lloyds Bank today announces the launch of a new market leading credit card that gives customers even more choice of rewards for everyday spending. The Lloyds Bank Choice Rewards Credit Card is an innovative, flexible and convenient credit card, available to new and existing customers through branch, telephone and online.

The new credit card offers the ultimate range of reward options to customers. Rewards can be collected by earning Choice points on everyday spending, which can be redeemed for shopping vouchers, cashback, free time rewards or travel rewards through Avios.

  • Shopping vouchers can be redeemed with a variety of high street brands including Boots, Debenhams, Amazon and Argos.
  • Alternatively, customers can opt for cashback on their everyday spending
  • Customers can also choose free time rewards such as magazine subscriptions, English Heritage membership, or wine.
  • Customers can also select travel rewards through Avios

For customers seeking compelling travel rewards, the launch of the enhanced Lloyds Bank Avios Rewards Credit Card provides another option. The earning power on Avios travel rewards will increase by 25% across both the American Express and MasterCard credit cards that customers receive on opening an account. Additional money-saving benefits include:

  • No transaction fees when spending abroad (typically 2.5-3.0%)
  • A flight upgrade voucher when a customer spends £7,000 in a year
  • 0% interest on balance transfers and purchases for 13 months

Avios can be used for travel rewards including flights1 with British Airways and oneworld® partner airlines, hotel accommodation world-wide, car hire, days out and other travel experiences.

New and existing customers can apply for the Avios Rewards Credit Card Account through branch, telephone and online at www.lloydsbank.com or www.avios.com/uk. A £24 annual fee will apply to both the Lloyds Bank Choice Rewards Credit Card and the Lloyds Bank Avios Rewards Credit Card.

For customers looking for a no fee credit card, Lloyds Bank continues to offer competitive non-rewards credit cards:

  • The Lloyds Bank Platinum Credit Card is offering 0% balance transfer and purchase offer for the first 13 months at 17.9% APR. There is a 2% refund on the standard 3% balance transfer fee.
  • The Platinum 24 month Balance Transfer Card (available online) is offering 24 months 0% on balance transfers and 3 months 0% on purchases. There is a 1.5% refund on the standard 3% balance transfer fee.

Mark Powys, Head of Credit Cards, Lloyds Bank

"We are launching more credit card options to provide choice to consumers. Our customers have told us they want cashback, shopping vouchers, more travel rewards and better balance transfer deals. Our new credit card range will better meet the needs of our customers and enhances competition in the credit card market."

Notes to editors:

  • The Lloyds Bank Choice Rewards and Lloyds Bank Avios Rewards credit cards will be offered to new customers from 4 November instead of the Duo Avios Credit Card
  • Existing Duo Avios customers will continue on their existing deal and terms and conditions
  • Choice points can be accessed through the redemption site through Lloyds Bank internet banking.
  • For customers without online banking they can redeem vouchers by calling 08456062175

The Lloyds Bank Credit Card Accounts offerings include:

Lloyds Bank Choice Rewards Credit Card

  • 10 Choice points for every £1 spend on the Choice Rewards American Express Credit Card
  • 10 Choice points for every £5 on the Choice Rewards Mastercard
  • 10 Choice points for every £5 of balance transferred from other credit cards and store card providers
  • Balance transfer offer 0% for 13 months and 0% on purchases for the first 13 months
  • Vouchers can be redeemed from:
    • Amazon
    • Argos
    • Boots
    • Currys PC World
    • Debenhams
    • Homebase
    • House of Fraser
    • iTunes
  • Customers taking out a Lloyds Bank Choice Rewards Credit Card will receive double Choice points on spend using their American Express® credit card for six months from opening their account, up to the value of £2,500 spend each month.

Lloyds Bank Avios Rewards Credit Card Account

  • Increased collection rates from the existing Duo Avios Credit Card account
    • 1.25 Avios per £1 spent on the Avios Rewards American Express Credit Cards
    • 1.25 Avios per £5 spent on the Avios Rewards MasterCard
    • 1.25 Avios for every £5 of balance transferred from other credit cards and store card providers
  • No foreign transaction fees
  • Flight Cabin Upgrade voucher for BA flights when you spend £7,000 in a year
  • Balance transfer offer 0% for 13 months and 0% on purchases for the first 13 months

1 Excluding taxes, fees and carrier charges

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