Lloyds is also closing the Lloyds Choice Rewards credit card.
This was an interesting hybrid card. It was a half-hearted attempt to create a card along the lines of American Express Membership Rewards. You earn points on your spending which could be transferred to Avios BUT could also be used for High Street shopping vouchers and a range of other rewards.
The earning rate if you transferred to Avios was poor, however, which is why very few Head for Points readers took one out.
It is no surprise that the card is closing because it was another ‘two pack’ product which included an American Express element. What IS a surprise is that Lloyds Choice Rewards cardholders are being moved to the Lloyds Avios Rewards credit card.
This seems odd to me. If Lloyds Choice Rewards cardholders were serious about earning Avios, they would have taken out a Lloyds Avios Rewards card in the first place! If I were Lloyds I would have moved them to a generic card with no rewards, or at least given them the option. What will happen now is that a lot of people who have no interest in Avios will start earning them, with many of the points presumably doomed to expire unused.
If you have a Choice Rewards card, you have four months from the day you receive your letter from Lloyds to spend your points balance. Any unused points will be foreited in return for a cash payment.
You can find out more on the Lloyds Bank website here.
Want to earn more points from credit cards? – October 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:
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 (SPECIAL OFFER), £200 travel credit and unbeatable 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
10,500 points bonus – 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.