Maximise your Avios, air miles and hotel points

More about the forthcoming changes to your Lloyds Avios Rewards credit card

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Yesterday we ran an article on the changes to the Lloyds Duo Avios credit cards which were sent to cardholders on Monday.

I said that I expected letters to follow to holders of the Lloyds Avios Rewards cards shortly.   I now have details of what will happen.

This is what you need to know:

This is going to be a very slow process.  Letters will be staggered between now and April 2019.  It isn’t clear if this is due to Lloyds looking to avoid a squeeze on their infrastructure or if they are hoping to tie it in with your annual renewal date.

The changes will apply to your account 60 days from the date the letter is sent

However, if the changes were linked to your renewal date, there would be no reason for Lloyds to be telling people, as they are, that – as the new replacement Lloyds Avios Mastercard is free – you will receive a pro-rata fee refund on your existing card

If you have had a Club Lloyds current account for at least six months, you receive an extra 0.1 Avios per £1 (0.2 Avios per £1 for foreign spending)

Some customers may receive a retention offer at the time of the switch

There will be a 2.95% foreign exchange fee going forward (the card currently has 0% FX fees)

There will not be an upgrade voucher going forward

The Lloyds call centre is telling some people that there is a final cut off of 2nd February for spend to count towards your upgrade voucher, irrespective of your year end.  This is NOT confirmed in writing yet so treat it as rumour.

The Avios earning rate on the new Mastercard will be the same as the one offered to ex-Lloyds Duo Avios cardholders:

0.4 Avios per £1 you spend in the UK

0.8 Avios per £1 you spend outside the UK

0.4 Avios per £1 transferred on a balance transfer (this is a new benefit – Lloyds Duo Avios cardholders used to get Avios on balance transfers but Lloyds Avios Rewards cardholders did not)

….. plus the extra 25% bonus for Club Lloyds current account holders.

One thing I don’t know is whether this new Lloyds Avios Rewards Mastercard will be reopened to new cardholders or whether it will remain exclusively for ex-Amex cardholders.

Lloyds Bank has set up a special website on the changes and you can find more details here.

With everyone getting 60 days notice and the letters being staggered over almost a year, there is no need to rush out and get a 0% foreign exchange fees card or get a replacement Avios-earning Amex.  I would wait until you get your letter and then make a move.


Want to earn more points from credit cards? – September 2022 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

25,000 Avios for signing up and an upgrade voucher for spending £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

5,000 Avios for signing up and an upgrade voucher for spending £20,000 Read our full review

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

EDIT: Until 25th October 2022, there is an exceptionally generous sign-up bonus on The Platinum Card. You will receive 60,000 Membership Rewards points – double the usual amount – and £200 to spend at Amex Travel. You need to spend £6,000 within six months to earn the bonus.

British Airways American Express Premium Plus

25,000 Avios and the UK’s most valuable card perk – the 2-4-1 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

60,000 points, £200 travel credit and an unbeatable set of travel benefits – for a fee Read our full review

Virgin Atlantic Reward+ Mastercard

15,000 points bonus and 1.5 points for every £1 you spend 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 Platinum

40,000 points sign-up bonus and a long list of travel benefits Read our full review

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

Capital On Tap Business Rewards Visa

50,000 points bonus until 2nd October – the most generous Avios Visa for a limited company Read our full review

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.

Barclaycard Select Cashback credit card

1% cashback and no annual fee Read our full review

Comments (164)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Caroline Wood says:

    Struggling to find your article on using this upgrade voucher. Does the availability need to be in the lower or upper cabin?

    • Rob says:

      Upper. It is NOT an upgrade voucher in reality. It is a voucher which lets you book a redemption in WTP or CW (or CE) for the Avios of the next cheapest cabin.

      No need for their to be any availability in the ‘lower’ cabin.

  • Calchas says:

    “0.4 Avios per £1 transferred on a balance transfer (this is a new benefit – Lloyds Duo Avios cardholders used to get Avios on balance transfers but Lloyds Avios Rewards cardholders did not)”

    I have the Lloyds Rewards Avios cards and I have received that bonus on balance transfers for many months now. It is not a great return but since they do it at a 0% fee I transfer all my balances to the Lloyds card each month and pay it off the next day in full (to avoid the interest) by direct bank transfer.

  • Linda says:

    Has anyone received their letters from Lloyds regarding the closure of the Rewards Avios cards yet?

  • Eric Brierley says:

    Ok, I’m in need of some help. I’m a bit confused at which cards to get for getting my Avios, I’m a solo traveller. I only get avios by using my lloyds AE card and converting Tescos points.
    I take it it will be best to get A BA Card, but to go for the free one or to pay a fee say with the AE gold ?, I’m not a big spender probably lest then 10k per year ( i’m on min wage so have to watch spending ) I have over cards apart from the Lloyds Duo, Tesco for places that don’t take AE and a Halifax card for using abroad.( Fee Free on foreign transactions)
    Can you transfer credit from another card to a new AE card or does that not count for sign up points ? Cheers

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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