Now you can get 0% on balance transfers and purchases for less with the Lloyds Platinum Purchase card.
Lloyds TSB is now offering a 2% balance transfer fee refund on its Platinum Purchase Credit Card.
So instead of 3%, customers will only have to pay a 1% fee on any balances they transfer. That’s a £50 saving when moving £2,500 worth of credit card debt!
The move makes the Lloyds TSB Platinum Purchase Credit Card one of the cheapest balance transfer deals on the market.
But what else can it offer?
All round goodness
The Lloyds TSB Platinum Purchase Credit Card is a handy tool to have in your wallet if you need to save and spend at the same time.
That’s because it comes with 13 months interest-free on both balance transfers and purchases.
So you can save by freezing the interest on existing credit card debt while at the same time spend interest-free on the things that just can’t wait.
This dual action on balance transfers and purchases is available on quite a few credit cards right now. But the Lloyds TSB Platinum Purchase Credit Card is one of only a handful which offer the same 0% period on balance transfers as purchases.
Best 50/50 cards
You can check out the full range of all-round credit cards using our comparison centre.
But below I have picked out the best 50/50 split all-round credit cards.
|
Credit card |
0% balance transfers |
0% purchases |
Balance transfer fee |
Cost of transferring £2,500 |
APR |
|
15 months |
15 months |
1% |
£25 |
17.9% |
|
|
15 months |
15 months |
2.9% |
£72.50 |
16.9% |
|
|
15 months |
15 months |
2.9% |
£72.50 |
16.9% |
|
|
14 months |
14 months |
2.9% |
£72.50 |
18.9% |
|
|
13 months |
13 months |
1% |
£25 |
17.9% |
|
|
13 months |
13 months |
3% |
£75 |
17.9% |
As you can see the top all-round 50/50 deal is currently on offer from Halifax with its All in One Credit Card. Like the Lloyds proposition it also charges just 1% on balance transfers, but lasts for two months longer.
[SPOTLIGHT]The 1% balance transfer fee available from both Halifax and Lloyds is the cheapest 0% offer you can get at the moment. You can see how significant the savings can be just in this small batch of deals.
The Lloyds TSB Platinum Purchase Online MasterCard will save you £50 compared to the Bank of Scotland Platinum Purchase Online MasterCard - and you get the same deal!
But if the fee is less important to you than the length of the deal you might be better off elsewhere.
Separate strengths
It would make life a lot easier if the top balance transfer credit card was also the leading interest-free purchase credit card or vice versa. But that's just not the way the cookie crumbles.
So even though an all-round credit card is a great multi-purpose tool, you might be better off getting cards that have separate strengths, which can offer you longer 0% periods on either balance transfers or purchases.
You can avoid paying any interest on purchases for a whopping 17 months with the Halifax Purchase Credit Card. While the Tesco Clubcard Credit Card for Purchases offers 16 months of worry-free shopping. That’s three to four months more time than the Lloyds TSB deal.
Elsewhere the top balance transfer credit card is the Barclaycard 27-Month Platinum Visa, which lasts more than two years and comes with a 3.5% fee. That’s 14 months more leeway than what the Lloyds deal can offer, but also 2.5% more expensive.
More on credit cards:
The best cashback credit cards
The best 0% purchase credit cards