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? – February 2024 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

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

Barclaycard Avios card

Barclaycard Avios Mastercard

5,000 Avios for signing up and an upgrade voucher at £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.

Virgin Money is offering double points on spending until 14th April (£5,000 cap) to new customers when you apply for the Virgin Atlantic Reward+ Mastercard. Click here to learn more.

British Airways American Express Premium Plus

25,000 Avios and the famous annual 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 & four airport lounge passes Read our full review

The Platinum Card from American Express

40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review

Virgin Atlantic Reward+ Mastercard

15,000 bonus points 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:

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

American Express Business Platinum

Crazy 120,000 points bonus (to 9th April) and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

Huge 60,000 points sign-up bonus (until 9th April) and free for a year Read our full review

Capital On Tap Business Rewards Visa

Get a 10,000 points bonus plus an extra 500 points for our readers 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

2% cashback on all your business spend for 3 months (1% thereafter) 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.

  • JPR says:

    If the upgrade voucher has not yet been triggered then one has 60 days beyond whenever the letter is dated to earn it? Is that correct?
    On day 61 it’s all over?

  • Alan says:

    Just read their FAQ page and rather amazed to see no mention of what happens for existing voucher earning! I’m ready to trigger it whenever required but assumed that would be a fairly frequently asked question!

  • Anna says:

    This is dismal. I will be moving all my non-Amex spend to the HH card when the changes take place. Surely Lloyds must realise they are going to lose a lot of customers?

    • Callum says:

      Losing unprofitable customers isn’t necessarily a bad thing.

      Especially as many will be defecting to the Horizon card – owned by Lloyds Banking Group.

      • Andrew says:

        Is the Horizon card available to people who didn’t have one of the closing products?

        The MBNA site doesn’t appear to be promoting it.

  • Kathy says:

    The uncertainty about the voucher is annoying. If I only have until Feb to earn it that means I need to focus all my spend on the Lloyds card, if I have all year I can apply for the new Virgin fee free card and get the enhanced bonus on that – only have until end of Sept to apply for that one.

    Or do a big manufactured spend – buy a refundable J flight and then cancel for a refund – but I’m not keen on that sort of thing, always feels risky to me.

    • Daniel Macdonald says:

      I prefer a refundable hotels. Com booking for 11 months time.

      Never a worry.

      • Ken Middleton says:

        Will the refund not go back on the same card account?

        • Alan says:

          Yes, but it won’t be an issue if your voucher has been triggered. Agree I would prefer to do with hotel rather than flight – far easier to cancel.

  • Lev441 says:

    It’s a shame about the upgrade vouchers disappearing… I have had some real good value from them over the past few years.. especially having had access to 3 x cards in the family! Also there’s now no real incentive to put spend through the card… you can get avios a lot easier through other means (SPG, amex gold/plat, BAPP/BA blue card etc, Clubcard etc)

    I’ve not spent a penny on the MasterCard version of the card since I got it… and looks like that won’t change as I’ll put through the majority of non amex spend through the virgin. Rewards+ card (at least til I’ve gone through my first card year).

  • Anna says:

    You would hope that if they’re staggering the letters it’s being done on the basis of renewal date so everyone has one last chance to earn a voucher. My renewal date is early Feb and we need to change a car around then so I could just squeeze in one more before April…!

  • Callum says:

    I have an Avios Reward card and definitely get Avios for balance transfers.

  • Whiskerxx says:

    mmm…. so when is the renewal date?
    The anniversary date of opening the card, or the anniversary date of being charged the fee?

    • TGLoyalty says:

      They should be the same statement month as the fee is charged on the anniversary of opening the card

      • Ben says:

        Yes, mine is the same statement month – Opened 08/08/17 but the £24 was taken out on the 24/08/17.

        I however got the letter last week do I have 30 or 60 days to earn a voucher?

      • Jac says:

        My card was opened mid Sep with the 24£ fee charged early Oct. Will i be able to earn a new voucher from Sept (even early Sept) or only from Oct?

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

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