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Summary box - Lloyds TSB Airmiles Duo Credit Card account

Return to the Lloyds TSB Airmiles Duo Credit Card account information

Summary box - Lloyds TSB Airmiles Duo Credit Card account
The information contained in this table summarises key product features and is not intended to replace any terms and conditions.
APR Typical 15.9% APR variable
Interest Rates Introductory rate Monthly rate Simple annual rate Effective annual rate
Purchases N/A 1.240% 14.880% 15.9%
Cash withdrawals N/A 2.075% 24.900% 27.900%
Balance transfers 0% p.a. for 6 months on Balance Transfers you make in the first 6 weeks after we open your account. If you make at least £100 of Purchases in the first 3 months after we open your account this rate is fixed for 6 months from the date the transferred balance is put on your account. Otherwise, this rate is fixed until 3 months after we open your account. 1.240% 14.880% 15.9%
Interest-free period Maximum 56 days for purchases if you pay your balance in full and on time.
Interest charging information

You will not pay interest on new purchases if you pay your balance in full and on time. Otherwise, the period over which interest is charged is as follows:

Interest charging information
From Until
Purchases date debited to your account statement date prior to paying in full
Cash withdrawals date debited to your account paid in full
Balance transfers date debited to your account paid in full

Even if you pay the balance in full, the interest charge on Cash Withdrawals and Balance Transfers for the period from the previous statement to the date of full repayment will be added to your account the following month.
Allocation of payments

If you don't pay off your balance in full your monthly payment will reduce your balance in this order:

  • Interest
  • Charges
  • Payment Protection Cover premiums (if applicable)
  • Balance Transfers and Cheques at 0%
  • Other promotional Blance Transfers and Cheques, in the order they were added to your Account
  • Balance Transfers and Cheques charged at the standard rate
  • Purchases
  • Cash Withdrawals
  • All other amounts.

This means that 0% balance transfers are paid off before balances charged at a higher rate, such as Cash Withdrawals.
Minimum repayment

The greater of:

  • 2% (minimum £5) of the balance shown on your statement; or if it is more
  • the amounts for interest and Payment Protection Cover premium (if applicable) on your statement.
Credit limit Minimum credit limit £500. Your cash limit is 50% of your actual limit
Maximum credit limit subject to status
Fees No annual fee.
Charges Cash withdrawals 3% or minimum £2.50
Balance Transfers 3% for each individual Balance Transfer. The standard interest rate is charged on Balance Transfer fees.
Credit card cheques 3% or minimum £3.00 for each individual cheque.
Foreign currency transactions 2.95% of the amount of the sterling transaction value.
Copy statements £6 for copies of non-current statements.
Copies of transactions £5 for each copy of a record of a transaction.
Default charges Late Payment charge, Returned Payment charge and Overlimit Charge £12
These details are correct on  1 November 2009.

Credit cards are designed to be a flexible form of borrowing. Paying the minimum amount every so often can help you manage your money more effectively, although we would not recommend that you make minimum payments for a long period of time once your promotional offers have ended. Once your account is open, you can set up a direct debit for any fixed amount over the minimum payment by calling 0845 606 2172. Lines are open Monday-Friday 8am-10pm, Saturday-Sunday 8am-6pm.

The following example highlights the difference between only paying the minimum and paying a fixed amount.

For a purchase of £1,000 on your Lloyds TSB Airmiles Duo Credit Card account... 

Monthly payment information
Monthly Payment If you pay the Minimum Payment each month If you pay £50 each month
Without taking into account any introductory rates, how much interest will you be charged in the first year? £144 £120
How much interest will you be charged in the second year? £131 £45
How long would it take to clear the balance? 21 years 10 months 2 years 1 month

The above example assumes the following:
– The transaction takes place on 1 January and you make no further transactions.
– You always make the payment each month on the 15th.
– Your statement is produced on the 1st of each month.
– This is a simple example and does not account for any annual fees or introductory rates.

Lloyds TSB Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Authorised and regulated by the Financial Services Authority.

The Lloyds TSB Airmiles Duo American Express® Card is issued and administered by Lloyds TSB pursuant to a license from American Express®

Return to the Lloyds TSB Airmiles Duo Credit Card account information

Terms and conditions

Customers who apply through Airmiles and are accepted for the Lloyds TSB Airmiles Duo Credit Card Account before 30th April 2010 will be eligible for the 1,500 mile voucher if they make a £10 Eligible purchase on their Airmiles Duo American Express Card before 30th June 2010. The £10 Eligible purchase must be completed in one transaction. For all bookings using the voucher the outbound journey must be completed by the 31st December 2010 after which time the voucher will expire. 1500 mile voucher cannot be used in conjunction with any other offer. An eligible purchase does not include cash withdrawals; money transfers; cheques; interest, fees or charges; Payment Protection Cover; transactions at casinos, betting outlets or bookmakers; or payments to offline or online current, savings, sharetrading, spread betting, gambling or other similar accounts. Customers will only be eligible for one joining bonus from Airmiles. In the event that a customer re-applies for the Lloyds TSB Airmiles Duo Credit Card Account, Lloyds TSB may process an application and issue the Lloyds TSB Duo cards but Airmiles will not award a further bonus offer. 1,500 miles will show on the customer's Airmiles account as a voucher within 30 days of receiving their first credit card statement detailing the Eligible purchase and will not form part of the Airmiles balance. Once on the account the voucher may be used as full or part payment towards flight or Eurostar bookings on any Airmiles route. At the time of booking travel a minimum of one night's accommodation must be booked through Airmiles in the country of origin, or destination, within the specified dates of travel. Customers may book tickets for more than one passenger but the voucher can only be used for a single booking. If all the miles are not used in a single transaction then the unused Airmiles will expire immediately. Eurostar bookings must be made via our customer contact centre, travel can be booked up to 120 days in advance. Bookings are strictly subject to availability. Eurostar fares may vary. Airmiles bookings are strictly subject to availability and Airmiles Customer and Booking Terms and Conditions and our Carriers’ Conditions of Carriage. Seats available to us may be limited on some routes – especially in peak periods. Zones and prices are correct at time of going to print, but subject to change. Examples shown are return economy from London. For direct international flights from regional airports, add 500 miles (if direct flights aren’t available, connecting flights may be booked by calling 0844 49 333 49).

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