Lloyds Bank
Enjoy unlimited 1% cashback for your first year and fee-free spending worldwide, with a competitive 12.9% APR and access for both new and existing Lloyds customers.
The Lloyds Ultra Credit Card stands out with its introductory offer of 1% uncapped cashback on everyday and overseas purchases for the first twelve months. After the initial year, cashback drops to a still-useful 0.25%. As an additional perk, there are no fees for international spending or ATM withdrawals if you pay off your balance in full every month. With a competitive representative APR of 12.9% and no annual fee, this card is open to both new and current Lloyds customers. Applicants should be aware that spending on things like gambling or online trading is excluded from the cashback programme.
How to Apply: Step by Step
- Visit the Lloyds Bank website and navigate to the Ultra Credit Card offer.
- Check your eligibility using their soft search tool to avoid impacting your credit score.
- Complete the online application with your personal and financial information.
- Submit your application and wait for the decision, which may be instant.
- If approved, set up a direct debit to pay in full monthly and start using your card.
Top Advantages
One of the best features is the unlimited 1% cashback on all worldwide spending for the first year, with cashback paid annually in January. This can truly add up if you use the card for regular household expenses or travel.
Additionally, there’s no fee for overseas purchases or ATM usage, which makes it one of the rare cards suitable for both domestic and international transactions without extra charges, as long as you clear the balance every month.
Main Drawbacks
After the first year, the cashback rate drops significantly to 0.25%, which is much lower than the initial 1% and less rewarding for ongoing benefit seekers.
Eligibility must be checked through Lloyds’ own site, potentially making comparison less convenient as it won’t show on many third-party apps or eligibility calculators.
Our Verdict
This card is an excellent choice for everyday spenders, frequent travellers, and those who always settle their balance in full. The uncapped 1% cashback and fee-free global use are rare in the market. However, it loses some shine after year one. It’s most attractive if you can maximise its benefits in the introductory period and always pay your balance in full.
