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The Lloyds Choice Rewards credit card offers a decent amount of cashback in retail vouchers. You're issued with both an Amex card and a Mastercard - so you can still earn points at places where Amex isn't accepted. You earn 50 Lloyds 'Choice points' per £5 spent on the Amex card (doubled for the first six months) and 10 points per £5 with the Mastercard.
- You have to spend at least £5 in each transaction to collect points.
- You earn double points with the Amex card for the first six months of holding the card, up to a maximum of £2,500 spend per month.
- Once you've accrued 33,250 points worth of 'cashback' you can go online and convert it into a £50 retail voucher.
- You can also redeem points straight for cash or Avios points (1,000 min) though the cashback rate is far less generous - 1.16% in our example above.
- The £24 annual fee is halved to £12 if you hold a Club Lloyds current account.
- You'll be charged 18.9% interest if you don't pay the card off in full at the end of each month. Including the £24 annual fee, the card has a 23.7% representative APR.
- Cashback: Up to 1.6% cashback in retail vchrs, before annual fee.
- Max cashback/year: N/A
- Annual fee: £24
- Min spend: N/A
- Min income: N/A
A nonsense piece of regulation means we have to tell you if you were to spend £1,200 at an annual interest rate of 18.94% (variable) your Representative APR, including the £24 annual fee, would be 23.7% (variable).
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