This may account for the fairly muted reaction that the cards have amongst the Head for Points community.
The Lloyds Avios cards also have to compete with the British Airways American Express cards. As the 2-4-1 voucher given by the BA Amex cards is the most generous perk of ANY British loyalty credit card Lloyds was always going to struggle.
The Lloyds Avios Rewards card has a £24 annual fee and earns 1.25 Avios per £1 on the Amex and a laughable 0.25 Avios per £1 on the MasterCard. The APR is 22.7% variable including the £24 fee based on a £1,200 credit limit.
The Lloyds Premier Avios Rewards card has a £150 annual fee and earns 1.5 Avios per £1 on the Amex and a laughable 0.3 Avios per £1 on the MasterCard. The APR is 50.8% variable including the £150 fee based on a £1,200 credit limit.
However, these cards have some very positive features which are often overlooked:
These cards charge NO foreign exchange fees. And, amazingly, you still earn Avios points on your foreign spend. Anything you buy abroad on your Lloyds Avios Rewards card is 2.99% cheaper than buying it on your BA Amex or 99% of other UK credit and debit cards. Even the handful of other cards with no FX fees (Post Office, Halifax Clarity) do not give any rewards, albeit both of those cards are free.
The upgrade vouchers earned on these cards are a decent deal for a solo traveller. The BA Amex 2-4-1 voucher may be great value but it is also pretty useless if you prefer to travel by yourself. The Lloyds upgrade voucher lets you upgrade one return Avios redemption flight by one class (excluding Club World to First). I explained here how it works.
There has never been a sign-up bonus for these cards. However, Lloyds has introduced a refer-a-friend scheme.
If you are referred by another cardholder, you will receive 4,500 Avios points. The person who refers you will also receive 4,500 Avios, up to a maximum of 20 referrals.
If you would like a referral, please email me at rob at headforpoints.com and I will arrange it.
Note that ‘Customers who hold or have previously held a Lloyds Bank Avios Rewards Credit Card Account will not be eligible for the 4500 Bonus Avios offer.’
Want to earn more points from credit cards? – June 2021 update
If you are looking to apply for a new credit or charge card, here are our June 2021 recommendations based on the current sign-up bonus.
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the other top current deals:
British Airways American Express
5,000 Avios for signing up, no annual fee and a companion voucher for spending £20,000 Read our full review
British Airways American Express Premium Plus
25,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review
The Platinum Card from American Express
30,000 points and an unbeatable set of travel benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
15,000 points bonus and the most generous non-Amex for day to day spending Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers.
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
American Express Business Platinum
40,000 points sign-up bonus and a long list of travel benefits Read our full review
British Airways Accelerating Business American Express
Earn both Avios and BA On Business points with your business spending Read our full review
Capital On Tap Business Rewards Visa
The most generous Avios Visa or Mastercard for a limited company Read our full review