Newest Review: ... number of your own choice - but each card needs to be changed - changing the PIN for one card will not automatically change it for the othe... more
An odd couple.
Lloyds TSB Airmiles Duo
Member Name: anwar7
Lloyds TSB Airmiles Duo
Date: 12/01/10, updated on 12/01/10 (712 review reads)
Advantages: see review
Disadvantages: see review
What is the Lloyds duo card?
As the name implies the Lloyds duo credit card is not one, but two credit cards. There is an airmiles Duo American express card and a Duo MasterCard. The idea being that if one card is not accepted by a retailer then you have another. The American express card is not as widely accepted apparently as the charges to the retailer are higher.
The rewards you will receive are different too. You will receive 1 airmile for every £10 you spend using your American express and just 1 mile for every £50 spent using the MasterCard. Each card has its own number although they are the same account and you can use the same pin number for both accounts. The cards are different colours to help you tell them apart, green for the MasterCard and grey for the American express card.
The application process.
Once I had decided I was going to apply I did so online via the Lloyds TSB web site. There is a link for the Duo credit card and the application process took just a few minutes to complete. As I am already a Lloyds TSB customer I didn't have to provide any documentation. My letter of acceptance arrived quickly through the post. If you prefer you can apply in your local branch or by phone. All the information you need is on the banks web site so I'm not going to repeat it here.
My cards pin numbers and cards arrived separately as you would expect and I activated them by calling the number on my letter of introduction. Each card has a separate pin number and this can be changed if you prefer at any cash machine. I prefer to use the same pin number for both cards and this was easy to do.
It is possible to transfer any balance you have from other cards to your Duo card. At the moment you will have to pay a 3% fee but will then be given 6 months interest free. However this is not quite as good as it seems. In order to qualify for the interest free period you need to spend 100 in the first 3 months of owning your card. You should bear in mind that when you make a payment it will be allocated to the cheaper borrowing first. This means any payments will go to reducing your transferred balance leaving your spending to attract a higher rate of interest. The 100 pound spend is a very clever ploy to get more money from you in a sneaky way!
The interest rate for purchases is 15.9% variable at the time of writing. You will get up to 56 days interest free time before you are charged interest. I always pay my balance in full every month so don't pay any interest. As an example of the interest cost, a £1000 purchase would cost you £144 in interest for a year, if you paid the minimum payment each month.
If you use your card to make cash withdrawal then the costs are much higher. You will be charged a 3% fee with a minimum charge of £2.50. In addition there is no interest free period and the rate is a massive 27.9%.
Lloyds boast that this card has excellent fraud protection although I have not had to put it to the test so can't comment! There is also an overseas emergency contact number in case your cards are lost or stolen.
The minimum credit limit for the card is £500, this is for both cards as remember although you have two cards it is one account! If you make a cash withdrawal then your limit is just 50% of this.
Like most credit cards you can apply to have an additional card holder who must be over 18. There is no annual fee for this credit card.
If you use the card abroad you will be rewarded with double airmile. However there are extra fees involved so be careful and check the up to date terms and conditions before you travel! In this country you will be rewarded extra miles when you use your card with other airmiles partners, these include Tesco and play.com.
You can pay your credit card bill in several ways. I pay mine online(more about this later) However you can also pay by post using the tear off payment slip you will receive with your statement each month,by phone to the number on your statement or in a high street bank.Be aware that any late payment will result in a £12 fee!
I have been using my cards since October so feel I can comment! The first thing to say is that not everywhere accepts my American express card, This is the card that pays the most miles and to be honest I have not bothered using the MasterCard as the reward incentive is just not worth the effort! I do have other credit cards so this is not a big issue but it is annoying!
I mostly bank online and was pleased to see my new credit card account was quickly added to my account list. I like being able to see my up to date transactions without waiting for my statement to arrive. I assumed that making a payment from my current account to my credit card account would be easy. However as you may know you need to provide both a sort code and account number for the new payee. There is no mention of either on my paper statement or online. I had to phone the Lloyds helpline to obtain this information and after being kept waiting for 15 minutes I was given the wrong account number!
I did eventually get the correct information but was unimpressed to see that although these are both Lloyd's accounts it takes several days for my payment to reach my credit card despite being taken from my current account!
I have had to phone the Duo customer service tem on a few occasions now and have always been kept waiting for several minutes. On one occasion the line was disconnected twice just as I managed to get through!
The staff have been friendly enough but not that efficient-wrong account number given and incorrect information about statement dates.
Overall I would only recommend this card if you are interested in collecting airmiles. I would only recommend using the American express card as this pays 5 times the airmiles as the MasterCard. I always pay my balance in full every month and so pay no interest. If you are unable to pay in full then the interest is high for this card and I have already explained the pitfalls of making a balance transfer.
Summary: credit card that gives airmiles
More reviews in the field of Credit Card
- One of the best if not the best loyalty card
- The 2nd best loyalty card out there, but personal choice
- little green card
- Free Money!!!!!!
- Is it as good as it seems?
- Perfectly fine, until you have a problem
- Sweet as Nectar
- Tesco Clubcard Reward Rip-off
- Love your body - for less
- worthwhile for regular shoppers