Lloyds Ultra Credit Card – 1% Cashback, Overseas Fee-Free & Low APR Offer

The Lloyds Ultra Credit Card presents a practical way to earn as you spend, offering an industry-leading 1% cashback during your first year. There are no annual fees associated, allowing you to make daily purchases here or abroad without worrying about unwanted costs. The credit card boasts a highly competitive representative APR of 12.9%, making it well-suited for those with good credit discipline.

For overseas travellers, this card shines with no foreign transaction or ATM withdrawal fees – a rare benefit. Cashback is uncapped and paid annually each January, giving cardholders a real incentive to use it for regular and planned spending, up to their credit limit and subject to the usual responsible lending criteria from Lloyds Bank.

How to Apply: Step by Step

1. Visit Lloyds Bank’s credit card portal and select the Ultra Credit Card option.

2. Complete the online eligibility check, which won’t affect your credit score.

3. Fill in your personal and financial details as accurately as possible.

4. Submit your application and await an instant decision in most cases.

5. If accepted, your card and PIN will arrive within a few days, ready for activation.

Pros of the Lloyds Ultra Credit Card

Enjoy fee-free spending abroad and fee-free ATM withdrawals, making this an excellent travel companion. Cashback is set at 1% in the first year and is not capped, which maximises value for frequent spenders.

The interest rate is low for a credit card at 12.9% representative APR, especially compared to many other rewards cards. No annual fee helps you keep more of your cash rewards.

Cons of the Lloyds Ultra Credit Card

After the first year, cashback drops significantly to 0.25%, making the rewards less attractive. This product is most valuable for the first twelve months.

As with most rewards cards, carrying a balance and paying interest will typically outweigh the benefits of cashback. Also, exclusions apply to certain spending types.

Our Verdict

The Lloyds Ultra Credit Card is ideal for responsible spenders looking for uncapped cashback and travel flexibility, especially during the first year. Pay off in full each month to avoid interest, and this card delivers impressive value, both at home and overseas. If you’re seeking a straight-forward rewards card with minimal fees and a solid earning rate, it’s a strong contender.